Bitcoin has had to deal with some difficulties in the last few weeks owing to the obstacle at the $60,000 resistance level. Ethereum, on its part, has seen some major bull runs with the digital asset on its way to touch a new high. Considering this, prominent analysts have mentioned that Bitcoin is already showing signs of a bullish run.
This claim has also been bolstered by crypto exchange, Kraken with the exchange stating a new high price for the first and second digital asset in its latest report. In the report, Kraken positioned that should things go as predicted; Bitcoin would cruise to touch $90,000 while the second digital asset, Ethereum, would touch a price within the $15,000 region.
Bitcoin is presently on a six straight green month
The report also claimed that before the traders get thrilled at the famous surge predictions that it has been seeing, Bitcoin would first suffer a hit. Kraken mentioned that going by the previous records in history, Bitcoin would lose around $10,000 after the bears settled briefly in the market.
After the dip, the asset would then rise again and continue trading in the upward direction on its quest to reach the predicted price mark. Even though the digital assets suffered in March, the most were regarded as a very positive one by traders and analysts in the market.
In the report, Kraken mentioned that Bitcoin closed the month on the back of a profit worth 30%, which signaled a sixth straight month in the positive region. This is the first time the asset would be going on such a streak, with the previous one coming as far back as the 2012/2013 trading period. If history is anything to go by, Bitcoin might be on its way to match that same record, but this time with an increase of about 51%.
Ethereum’s market cap could surpass Bitcoins with the rise
Bitcoin is briefly trading at a region around $60,000, with the asset entering this month when around the $59,000 zone. If that record repeats itself, then the leading digital asset could well be looking within a touching distance of $90,000. While Kraken seems to have given Bitcoin a big hill to climb, the crypto exchange didn’t spare Ethereum the pressure.
With the asset presently trading at a region close to $2,000, Kraken says that the asset might be on for the biggest resistance test of its entire existence. Should Ethereum also match the projected historic movement, it could be looking at the $15,000 region, according to Kraken’s prediction.
Should this prediction come to pass, the Ethereum’s market cap would upset Bitcoin, which is already around $1.7 trillion. While Kraken holds a very high bullish view of the digital assets, the crypto exchange noted that this prediction does not mean that the digital asset would not be seeing some bearish returns in the coming weeks.