On August 10, the research team of the Kraken exchange released its monthly report on Bitcoin volatility for the month of July 2020, which examines various factors that indicate Bitcoin’s adoption and growth.
- Kraken Intelligence says that a bull run with high prices and high volatility is possible in the months ahead
- Highlights BTC breaking out of a 2.5 year “pennant” formation
- Says volatility could exceed 100% as Bitcoin could rally between 50 to 200%, putting it at above the all-time high value of $20,089
- Also notes that BTC and gold, and BTC and S&P 500, are maintaining moderate 30 day correlations
- Bloomberg reported in July 2020 that Bitcoin could $12,000, while also saying it could hit $20,000 by the end of year