A new Bitcoin forecast from Kraken: a massive rally is expected

Amid economic instability caused by COVID-19 and other macroeconomic factors, Bitcoin price continues to rise. The BTC coin overcame the threshold of $12K, but the experts predict its further growth. Kraken also offered its forecast foreseeing a huge rally in the nearest future. It became an encouragement for cryptocurrency investors who concluded that this coin has all properties of the most trustworthy asset and features the biggest potential compared to other kinds of assets.
So, what awaits the crypto coin soon? In the opinion of Kraken, the BTC rally will vary from 50% to 200%. There is a good chance that it will happen in the following months.
There is a thorough analysis of the situation in the blog of the platform. The prediction is based upon figures and indicators that lay the foundation for the conclusion.
For instance, it substantiated the prediction by the fact that August has always been a month with huge volatility for cryptocurrency. Also, it relied upon a 23% volatility of Bitcoin on the 24th of July that was a 21-month low. However, it enters the list of historic lows that were also observed with 15-30% volatility after which huge rallies followed.
Kraken specialists also paid attention to the fact that the behavior of BTC wasn’t ordinary in July. It’s a weak month in the industry of cryptocurrency trading, as a rule. But it was all different this year, and the month has become the second strongest month for BTC trading in history. Bitcoin price has increased by 14.5%. Also, the fourth week of the month was noted by 44% of the total trading volume.

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