• According to cryptocurrency exchange Kraken, Bitcoin could reach this near-six-figure price by the end of the year

  • According to Kraken, a cryptocurrency exchange, Bitcoin could end the year with a massive surge that would more than double BTC’s value from its September closing price.

    According to a new report from Kraken, Bitcoin has historically had the best annual performance during the last three months of the year (Q4).

    “As positive as the third quarter was for BTC, it should be noted that the fourth quarter has historically been BTC’s best quarter, with an average and median return of +119 percent and +58 percent, respectively.”

    According to Kraken, Bitcoin could end the year near $100,000 based on the average return over the years.

    “At BTC’s fourth-quarter closing price of $43,800, a +119 percent return in 4Q2021 would value BTC at around $96,000.”

    According to Kraken, a median return of 58 percent would result in Bitcoin reaching $69,000 by the end of the year. At the time of writing, Bitcoin is trading at around $54,800, implying a 25% upside potential.

    According to the cryptocurrency exchange, October is a more volatile month for Bitcoin than September. Bitcoin is up about 25% from its opening price of $43,820 in October.

    “When looking at historical averages, October is typically more volatile than September (average annualized volatility of 66 percent vs. 61 percent), and BTC tends to finish +13 percent higher.” Though October appears to be a favorable month for BTC, November and December appear to be equally favorable for the bulls.”

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