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Kraken predicts $96K BTC price top as analyst says $1T Bitcoin market cap is 'now cemented'
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Bitcoin (BTC) could nail the now-popular $98,000 price target — but it could end up being the cycle top, new research argues.
In its October 2021 Market Recap and Outlook, major U.S. exchange Kraken said that Bitcoin should reach around $96,000 if this quarter copies the last bull run.
With BTC price predictions reaching $300,000, new analysis from Kraken suggests that if BTC/USD were to copy its 2017 performance, this cycle's top could end up still being under $100,000.
While facing calls for a "worst case scenario" November closing price of $98,000, it could be that Bitcoin ends up peaking at around that level instead.
"At the current pace, 4Q is trending most similarly to 4Q2017 with a correlation of 0.88. It should be noted that 4Q2017
Read more on cointelegraph.comAbout this in other media
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