Note that analysts at the Kraken trading platform regularly comment on what's happening in the coin niche. For example, in September 2021, they shared their conclusions regarding the reasons behind the growth of digital assets the day before. As experts then opined, the improvement in the industry was primarily influenced by the return of Bitcoin miners to mining the cryptocurrency. Still, after the Chinese government's bans, many of the owners of computing equipment went offline en masse and started looking to other countries for their business.

Accordingly, Bitcoin's hash rate growth made it clear that even major problems at the individual state level cannot stop the cryptocurrency from becoming more popular. And that has created a positive for the market.

Also, the world of cryptocurrency has become popular because of the development of NFT tokens, which have attracted the attention of mass investors and introduced them to the world of blockchain. Read more about the experts’ point of view in a separate piece.

The rise of Bitcoin and other cryptocurrencies

Analysts have now taken up the topic of Bitcoin’s possible highs that await us this cycle.

When will Bitcoin stop rising?

Predictions about the highs among experts vary widely. Some are sure that Bitcoin will be able to go as high as $300,000 in the foreseeable future, while others insist that the crypto is quite close to its all-time high. It is the second scenario that Kraken analysts like best.

Here’s a rejoinder from the experts, in which they share their view of the market. The quote is cited by Cointelegraph.

At current rates, the dynamics of the fourth quarter of this year are closest to the same period in 2017 with a correlation of 0.88. It should be noted that Q4 2017 was the third best Q4 ever for Bitcoin with a yield of 220 percent. Assuming that the aforementioned scenario becomes reality, we can expect BTC to rise as early as the end of the month.

Accordingly, experts are betting on the major cryptocurrency rising in the last quarter of 2021. Typically, altcoins rally after Bitcoin. At the very least, they peaked in January 2018, a few days after BTC reached the $20,000 mark.

Dynamics of Q4 returns by different periods in Bitcoin’s history

Another forecast was based on the Bollinger Band and Relative Strength Index (RSI) indicators, i.e. technical tools. Analysts continue.

Historically, BTC’s cycle highs have coincided with the cryptocurrency reaching both its upper Bollinger Band and the monthly Relative Strength Index (RSI) value of around 96.

Estimated high for the cryptocurrency’s current cycle

At the moment, the RSI value is hovering around 71.7, so Bitcoin still has room to grow. Moreover, the cryptocurrency is unlikely to fall too precipitously even after the start of a bearish trend – experts have noted that the trillion-dollar capitalisation is now a new ‘bottom’ for the digital asset.

We checked the latest data: today Bitcoin is at $67,000, bringing its market capitalisation to $1.265 trillion. The first cryptocurrency currently accounts for 41.4 per cent of the entire coin market.

Bitcoin exchange rate chart for the last 180 days


That said, it's important to note that other cryptocurrency analysts have rather similar goals for Bitcoin. Many are betting that BTC will rise to $80,000 to $100,000. Read more about their views in a separate article. Keep in mind, however, that no forecasts are bound to come true, because it is only the subjective point of view of analysts.

The Kraken platform


We believe that the perception of a trillion dollar market capitalisation of Bitcoin as a baseline going forward is fair enough. Still, the cryptocurrency is now much more popular than the events of 2017-2018. It is now the national currency of payment in El Salvador, in addition the coin has already attracted the interest of Apple CEO Tim Cook, who has made a personal investment in the coin. So the future is clearly bright for cryptocurrencies.

What do you think about it? Share your opinion in our Millionaire Crypto Chat. There, talk about other topics that affect the world of decentralised assets.