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Bitcoin could nail the now-popular $98,000 BTC price target – but it could end up being the cycle top, new research argues.
In its “October 2021 Market Recap & Outlook,” major United States exchange Kraken said that Bitcoin should reach around $96,000 if this quarter copies the last bull run.
“At the current pace, 4Q is trending most similarly to 4Q2017 with a correlation of 0.88. It should be noted that 4Q2017 went on to become Bitcoin’s third best 4Q on record with a return of +220%,” Kraken wrote.
“Assuming BTC continues to follow in the footsteps of 4Q2017, we could expect BTC to rally even higher into month end. For some context, a +220% in 4Q2021 would imply a price of $96,355 for BTC.”
In other trending Bitcoin News today: Apple CEO Tim Cook confirms owning both Bitcoin and Ethereum and says…
“It’s reasonable to own it as a part of a diversified portfolio. I been interested in it for a while, I been researching it and so forth and so I think it’s interesting.”
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/2YwXnhq
✔ Bitcoin Suisse Enables Lightning Payments: https://bit.ly/3ogutLl
✔ Apple CEO Purchased BTC & Ethereum: https://bit.ly/30eTvTb
✔ Kraken $96K Bitcoin Prediction: https://bit.ly/3n9LA2l
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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