Bitcoin Could Surge to This Near Six-Figure Price by Year-End, According to Crypto Exchange Kraken

Cryptocurrency exchange Kraken says that Bitcoin could end the year with a massive surge that would more than double BTC’s value from its September closing price.

In a new report, Kraken says that Bitcoin has typically recorded the best annual performance during the last three months of the year (Q4).

 

“As positive of a quarter as 3Q ended up being for BTC, it ought to be noted that 4Q has historically been BTC’s best quarter with an average and median return of +119% and +58%, respectively.”

Based on the average return recorded over the years, Kraken says Bitcoin could end the year hovering close to $100,000.

“At BTC’s quarter-end closing price of $43,800, a +119% return in 4Q2021 would put BTC at roughly $96,000.”

Kraken says that a median return of 58% would see Bitcoin close the year appreciating to $69,000. Bitcoin is trading at around $54,800 at time of writing, suggesting an upside potential of 25%.

The cryptocurrency exchange also says that October tends to be a more volatile month for Bitcoin than September. Bitcoin is up by around 25% from October’s opening price of $43,820.

“Shifting focus to October, one will see that the month is typically more volatile than Sept. (average annualized volatility of 66% vs. 61%), and BTC tends to finish +13% higher when looking at historical averages. Though October has the promise of being a favorable month for BTC, one should take heed to November and December being just as favorable for the bulls.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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