In its “October 2021 Market Recap & Outlook,” the veteran platform – Kraken – explained its bullish prediction with past events.
Kraken also outlined the advancements in the cryptocurrency space throughout the last few months, especially those involving bitcoin.
Institutional fund flows to Bitcoin during the last month saw an uptick as well.
Kraken gave a separate price prediction for bitcoin based on two popular technical indicators – Relative Strength Index and Bollinger Bands.
Back in August, when BTC’s USD value stood at around $50,000, he envisioned a price tag of $100K before the year’s end.
It is worth noting that the stock-to-flow model, created by the pseudonymous “PlanB,” which has been quite accurate in the past, gave even more optimistic bitcoin prediction.