In 2021, Dan Held, the director of growth marketing at crypto exchange Kraken, predicts what will happen to Bitcoin.
The Kraken chief credited the 2013 bull cycle with catapulting Bitcoin (BTC) into “mainstream visibility” in a new issue of The Held Report.
“It [Bitcoin] began the year [2013] at $13, spiked to $260, then retraced to $80 for nearly six months until the winter, when it skyrocketed over $1200.”
According to Held, the situation for Bitcoin in 2021 will be very different, citing more BTC holders, a big trading infrastructure, and a regulatory structure. According to Held, Bitcoin’s current price activity appears to be eerily similar to that of nearly a decade ago.
“As you can see, it’s eerily identical, with a strong first bull run, followed by a lengthy pullback and a final bull run.”
According to Held, if Bitcoin follows the same path it did in 2013, it would likely chop sideways for a little longer before going off in the fourth quarter of 2021.
