In an interview with Bloomberg last Thursday, Michael Gronager, co-founder of Kraken and CEO of Chainalysis, noted that Bitcoin (BTC) and the cryptocurrency market bull rally is far from over.
Last month, Kraken CEO Jesse Powell opined that the current bull run is in its early stages. Commenting on his price prediction for Bitcoin, he noted that:
“We could see $100,000 plus per coin late this year, early next year.”
Meanwhile, Chanalysis CEO shared a similar prediction sentiment with Powell after noting in the Bloomberg interview that he expects BTC to reach a $100K price tag before 2021 runs out. Gronager stated that:
“I think we are still in the bull market. I think we can see above $100k by the end of the year, so I would be bullish on that as well. Long term, I would probably usually say the Moon is the limit, but we can go beyond that as well.”
The Chainalysis CEO joins the growing list of prominent personalities and analysts who predict that the benchmark cryptocurrency could surpass $100K before the end of the year. Others who share this sentiment include Kevin Wadsworth of Northstar & Badcharts, Jordan Belfort (alias The Wolf of Wall Street), Blockstream CEO Adam Back, Florian Grummes, and many more.
Key Bitcoin Levels to Watch — September 5
Bitcoin appears to have cooled off from its recent rally as the cryptocurrency trades in a sideways momentum between $50,500 and $49,500. That said, many technical pointers indicate that this range-bound movement could culminate in a resumption of the bull run above $51,000.
However, bulls need to prevent a sustained dip below the $49,500 level or risk triggering a bear cycle formed out of a double-top pattern at $50,500.
Meanwhile, our resistance levels are at $50,500, $51,400, and $52,000, and our key support levels are at $49,500, $48,000, and $47,000.
Total Market Capitalization: $2.29 trillion
Bitcoin Market Capitalization: $941.8 billion
Bitcoin Dominance: 41.1%
Market Rank: #1
You can purchase crypto coins here: Buy Tokens
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.