Dan Held, the director of growth marketing at crypto exchange Kraken, is predicting what’s next for Bitcoin in 2021.

In a new issue of The Held Report, the Kraken executive credits the 2013 bull cycle with catapulting Bitcoin (BTC) into “mainstream visibility.”

“It [Bitcoin] started the year [2013] at $13, had a spike to $260, then retraced to ~$80 for nearly 6 months until the winter, when it surged again to ~$1,200.”

 

Held says that the circumstances for Bitcoin are far different in 2021, citing more BTC holders, a massive trading infrastructure and a regulatory structure. Bitcoin’s current price action, however, appears to be mimicking its price action from nearly a decade ago, according to Held.

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“As you can see, it is eerily similar with an intense first bull run, then an extended pullback, with one last bull run at the end.”

Source: Dan Held

According to Held, if Bitcoin is closely following its 2013 path, the flagship cryptocurrency will likely chop sideways for a bit longer before taking off in the last quarter of 2021.

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Featured Image: Shutterstock/Mia Stendal




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