Analysts of the Kraken exchange expect a tenfold increase in bitcoin

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Analysts at the American cryptocurrency exchange expect Bitcoin to rise during the next bull cycle, perhaps even to $356,841.

Analysts make their assumptions based ontechnical analysis and history of Bitcoin exchange rate during previous growth cycles. After the start of growth and crossing the 200-day moving average, the average rate of the first cryptocurrency rose 10-15 times from the minimum values. Accordingly, during the next growth cycle, the BTC rate could reach from $237 894 to $356 841.

Kraken analysts are no less positivelooking at the prospects for broadcasting. In their opinion, during the next bullish trend, the ETH rate could rise to $28 471, which would be 1 839% of current values.

Most recently, cryptocurrency analyst Michaelvan de Poppe predicted that Bitcoin could reach $30,000 as early as next month. The cryptocurrency market has indeed recovered a little over the past 24 hours and the total capitalization has exceeded
$1 trillion. BTC is currently trading at $20 600.