Kraken predicts 50% to 200% growth in Bitcoin in the coming months

posted about 2 months ago
Kraken Intelligence researchers released their Bitcoin Volatility Report for July 2020. Key takeaways include a remarkable +14.5% rally between Monday, July 27 and Friday, July 31 resulted in Bitcoin crossing $11,000 for the first time in nearly a year, more than $11 billion in volume traded and an annualized volatility of 45%.

Also, concerns over the state of the global economy and a shift towards safe haven assets resulted in Bitcoin’s rolling 30-day correlation with gold flipping from a 10-month low of -0.66 on July 2 to a 1-year high of 0.93 on July 31. Lastly the OCC’s approval of US nationally chartered banks providing crypto custody services, gold hitting an all-time high and Bitcoin’s dominance falling to a 1-year low set the stage for bitcoin’s +24% rally in July.
Tags: bitcoin, opinion