Kraken Analysts Outline Potential Bitcoin Surge to Staggering High of $322,478

Analysts at the crypto exchange Kraken are looking at Bitcoin’s historic price action to determine where the top crypto asset may be heading in the long run. A new report from Kraken Intelligence uses Bitcoin’s 200-week moving average as a crystal ball. Specifically, Kraken looks at the multiples that BTC has traded at relative to its 200-week moving average in the past. BTC is now trading close to its 200-week moving average of about $21,498, and a chart from Kraken shows that when Bitcoin’s price has previously dropped to 1x of its 200-week moving average – big rallies have often