Still Upside Potential in Bitcoin, While ETH Faces Competition

November 6, 2021 | By | Reply | 25 Readers More

Source: Adobe/Daniel Prudek

There is still potential for the price of bitcoin (BTC) to rise before the top of the market cycle, analysts at crypto exchange Kraken said. Meanwhile, ethereum (ETH) has recently seen a strong performance, but is to face tougher competition going forward, they warned.

Commenting on the historical performance of bitcoin in November, Kraken said that it is the best performing month on average, with a 53% average return. However, the report also warned that volatility in either direction should be expected, with November on average being “materially more volatile” than other months.

Broadening the scope to the entire fourth quarter, Kraken said that the last quarter of the year is typically “a favourable quarter for BTC,” returning on average 119%.

However, the underlying data also showed that there are large differences between the best fourth…

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