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  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.
“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.”
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.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mia Stendal