Analysts of the Kraken cryptocurrency exchange have published a report according to which they expect the rate of the first cryptocurrency to rise from 50% to 200% in the coming months.
In the report, the researchers write that on July 24, Bitcoin volatility dropped to its lowest level in 21 months. Analysis of historical data shows that in 12 similar cases, the bitcoin rate then increased by an average of 140%.
In addition, historically August is one of the most volatile months for Bitcoin. Therefore, analysts expect the uptrend, which began at the end of July, to continue in the coming months.
Note that in July, the growth of the first cryptocurrency rate was 24%. At the same time, 44% of the bitcoin trading volume recorded in July fell on the last week – just when the cryptocurrency market began to grow actively.
Recall that recently, analysts of the Hong Kong hedge fund Quantum published a report according to which Bitcoin may rise to $ 12,500, but then it will face an inevitable and powerful fall.
Note that in July, Ethereum miners earned $ 143.8 million, the highest in the last 23 months. At the same time, commission income amounted to 23% of the total income of miners.
