Kraken Newest Volatility Report States Bitcoin Rise to $20,000 Seems Likely
Kraken releases a volatility report each month discussing the market situation of the past month and the most important announcements. The October 2020 takeaways of the most recent report were mostly about the price action of Bitcoin and the break […]
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
Kraken releases a volatility report each month discussing the market situation of the past month and the most important announcements. The October 2020 takeaways of the most recent report were mostly about the price action of Bitcoin and the break in correlation with the S&P 500 and other indices.
With bitcoin rallying to a 33-month high, setting a higher high after 3 years of downtrending price action, and tending to go parabolic after breaking out of a macro downtrend, an ascent to $20,000 appears likely in the months ahead.
One surprising fact from Kraken’s report is the decrease in volatility. It seems that despite Bitcoin pushing to $16,000, the annualized volatility plummeted by 20% to a 19-month low of 35.5%. This is notable and indicates that the current bull rally is far healthier than it was in 2017.
BTC/SP&500 Comparison Chart – TradingView
Another major factor in favor of Bitcoin is the loss of correlations with the stock market and the inverse correlation with the Dollar. Although some of it remains there, after Bitcoin price broke $12,000, the S&P 500 and other indices couldn’t follow.
Even after the recent news about a potential vaccine, the stock market remains far weaker than Bitcoin. The U.S. dollar index also seems to not affect Bitcoin anymore.
PayPal has just recently announced that U.S. customers can start using the platform to purchase, sell, and hold cryptocurrencies today. Bitcoin is trading at $16,200 but didn’t react to the announcement just yet.
Big companies purchasing Bitcoin
During 2020, several multi-million companies have announced their purchase of large sums of Bitcoin. Grayscale fund trust reported a record quarterly inflow of $1 billion worth of Bitcoin in 3Q20.
Square, Inc also announced a $50 million Bitcoin purchase in October. Shortly after, PayPal finally confirmed the new service to enable users to buy cryptocurrencies. Additionally, London Stock Exchange-listed Mode revealed that up to 10% of their cash reserves were allocated to Bitcoin.
Kraken also provided a graph with the most notable upcoming events for Bitcoin and the cryptocurrency market like CME Futures expiry dates and other policy and regulative events.
Related articles
- Bitcoin Price Prediction 2024: Will Bitcoin Crash to $30,000?
- Crypto Price Analysis Amidst the Hamas-Israel Conflict: Will Crypto Crash?
- Will Bitcoin Price Crash towards 20K? This Analysis says YES!
- What Bitcoin Strategy yields $400M in Profits?
- What Will Happen to BITCOIN Prices? 2 Scenarios Traders are IGNORING
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
October 16, 2020 1:55 PM
Bitcoin Cash (BCH) Price Analysis – Rejected at the Resistance at ±$265!
The Bitcoin Cash price was able to rise up to the golden ratio at ±$265, where it was strongly rejected! Bitcoin Cash Price Analysis – Rejected at the golden ratio! After the Bitcoin Cash price strongly bounced at the golden […]
August 22, 2024 9:00 PM
MAJOR Bitcoin News: Bitcoin Price SURGE Expected At This Level
Bitcoin and Ethereum are at critical junctures, with key resistance levels in sight. Are the markets poised for a breakout, or will bearish pressures prevail? Explore the latest analysis and insights.
January 13, 2024 7:10 AM
Bitcoin Price Prediction: Will the BTC Price Crash to $35,000?
Will the BTC price crash to $35,000? Let's take a look at this Bitcoin price prediction article in more detail.
January 8, 2024 6:50 AM
Bitcoin Price About to Explode?: 100-Day Bitcoin Halving Countdown Begins!
What will be the impact of Bitcoin halving on the BTC price? Let's take a look at this Bitcoin price prediction article.
October 11, 2023 6:55 PM
Why is Bitcoin DOWN Today? Bitcoin Price fell Below $27,000!
Factors influencing Bitcoin's recent price movements: what it might signal for the broader financial landscape.
September 4, 2023 7:45 AM
Bitcoin Price Prediction: Bitcoin’s Price Could Explode to $50,000 in Just 6 Months!
What makes us foresee a significant uptrend in the upcoming months? Let's take a look at this Bitcoin price prediction article.
October 18, 2022 5:48 PM
When will Bitcoin reach $100,000? The year is NOT Near!
When can Bitcoin reach 100k again? (Hint: not anytime soon). Let's try to assess in this Bitcoin price prediction article.
July 29, 2021 10:32 PM
Bitcoin Price Prediction – BTC Breached 40K! Will it climb to 50K next?
What is next for Bitcoin prices? In this Bitcoin price prediction article, we analyze what has happened so far and give trade setups.
March 9, 2020 10:06 AM
Will CoronaVirus Impact the Bitcoin Price?
This is the sort of question that appears when every time Bitcoin price surges and drops significantly and apparently out of nowhere some analysts, experts directly associate such questions with anything like the US-Iran tension, Hong Kong protest, and so […]
October 15, 2023 2:21 PM
Bitcoin Price Prediction: Will Bitcoin Price GO UP SOON?
As cryptos consolidate, most slightly lost in valuation. In this Bitcoin price prediction, we analyze whether Bitcoin price will go up soon.
February 19, 2024 4:58 PM
Bitcoin Price Resistance BROKEN! Will Bitcoin reach $30,000 again?
What's the road ahead for Bitcoin, especially with the $30,000 mark within grasp? Let's delve deeper in this Bitcoin price prediction.
August 11, 2023 5:18 AM
Top 10 Statistical Models for Analyzing Cryptocurrency Prices
This article will explore top 10 statistical models used in crypto price analysis, demonstrating how each can elucidate key aspects.
March 7, 2024 8:09 AM
BIG FET Price Prediction: Fetch.ai Price Eyeing $5 Before Bitcoin Halving? Here’s Why..
Could Fetch.ai possibly hit $5 before the Bitcoin halving? Let's delve into this FET price prediction piece and explore it further.
August 9, 2023 11:29 PM
Ethereum Price Prediction: Will ETH FINALLY Breach $2,000 for GOOD?
Ether prices took a hit. Was it day traders taking their profits? Let’s explore the trajectory of Ethereum in this Ethereum price prediction.
October 2, 2022 1:49 PM
Ethereum Price Prediction – Will Ether Price Increase in October 2022?
October is known to be a green month for cryptos. Will Ether price increase in October 2022? Let's assess in this Ethereum price prediction.
July 25, 2022 9:16 PM
Crypto Correction Happening – Why are Cryptos DOWN?
In the past 2 days though, we noticed a slight crypto correction lower. Is now the time to buy cryptos at cheaper prices or should you wait?
June 30, 2022 8:44 AM
Will Bitcoin Price reach $10,000? Very Possible, Here’s why!
Now that Bitcoin reached a price of $19,300, will Bitcoin price reach 10000 USD? Is the crypto crash still happening? Let's analyze.
June 19, 2022 7:04 AM
Top 5 Worst Cryptocurrencies Of The Week – Week 24
This post is all about the top 5 worst cryptocurrencies of the week. At the time of writing this, the BTC price is sitting at $18,412.92.
April 28, 2021 8:37 AM
Why is the Crypto Market Down? The Answer will SHOCK you!
After last week's correction, today marks another bad day for the crypto market. A major bearish news came from the US. Why are Cryptos down?
February 26, 2021 1:08 PM
Bitcoin crashes 6% again – What’s going on with Cryptocurrencies?
What's going on with Bitcoin's price & where can prices reach? Bitcoin crash affected the whole cryptocurrency market. Is this a bad signal?
February 17, 2021 11:01 AM
Don’t Buy Bitcoins right now, here’s why
ust three months after reaching $20,000 for the first time ever, Bitcoin hit another impressive milestone, climbing above USD 50,000 for the first time ever yesterday. After hovering at $10,000 for most of 2020, Bitcoin has more than quadrupled its value since October 2020. Over the past 24 hours, the crypto market is mostly recovering from a red day, as the majority of the top 10 cryptos were deeply in the red. Although Bitcoin's price is seen soaring high, there are several reasons why it is better NOT to buy Bitcoin at current prices, not because we don't like Bitcoins, but because...well that's what we're going to discuss in this article:
December 16, 2020 4:42 PM
Bitcoin Price Analysis: BTC Price Surpasses $20,000. What’s Next?
Bitcoin price has just surpassed the amazing $20,000 mark for the first time in its history and sights for more.
October 26, 2020 3:22 PM
Bitcoin Price Analysis – What Happened to BTC during the weekend?
Bitcoin prices consolidated during this past weekend and confirmed a previous level of support of USD 12,680 discussed in our previous Bitcoin Price Analysis. New Support level tested during the weekend Very low volatility was recorded for Bitcoin during the […]
September 3, 2020 7:22 PM
Ethereum Price Prediction – Is Ethereum Still Heading To $550 Or Is It Over!?
The price of Ethereum reached $490, about 11% under our bullish target of $550. Can Ethereum still reach the $550 mark? Ethereum Price Forecast – Ethereum reaches $490 then follows Bitcoin’s dump! The Ethereum price was able to break the […]
November 22, 2019 11:33 AM
Why is the Bitcoin price going down?
The price of Bitcoin is presumably the most regularly explored character of the cryptocurrency market. The important question for many users is why the price of Bitcoin is declining? What are the reasons? If you observe the market closely then […]
August 22, 2019 9:55 AM
Weekly Analysis Of Digital Currencies (August 25–,September 1, 2018)
This week, market capitalization of digital currencies has a slightly fluctuating trend with a commendable rate and right now it is at $231.17 billion.
April 9, 2019 7:49 AM
Why Crypto Volatility is Significant in the Cryptocurrency World?
Cryptocurrency market is full of surprises. Cryptocurrencies aren’t much distinct from other assets in that their rates are directed by the laws of supply and demand—if people want to purchase, prices rise; if people want to trade, prices decline. The […]
More from CryptoTicker