After six straight months of double digit returns for Bitcoin (BTC), some investors are wondering, is this the start of another 2017-style crypto market rally?
Certainly, Ether (ETH) and many other large-cap crypto assets rallied higher in March, some even outperforming BTC considerably. Yet, amid recent declines in monthly volatility, there are signs an even more significant move may be on the horizon.
That’s the finding at the heart of Kraken Intelligence’s March 2021 Market Recap & Outlook Report. Compiled by our in-house research experts, our report provides a comprehensive breakdown of market movements for assets including BTC, ETH, ADA, DOT, UNI and THETA.
Going further, we also put metrics behind the boom in NFT enthusiasm, which has captured the curiosity of millions worldwide – expanding awareness of the crypto asset class.
By downloading our report, you’ll gain new insights into not only the emerging NFT market, but the near-term price upside and potential price targets ahead.
History Says – March has historically been a less volatile month for bitcoin than February. Contrary to that, average volatility in April has been 99% – making it the most volatile month for BTC. April is also the second most profitable month averaging a 51% return. If trends and current market conditions are an indication, it may be fair to expect prices to continue climbing higher.
Ether You’re Bullish or Bearish – When looking at historical price action, ETH is at a bit of a fork in the road. On the macro time frames, technical indicators show price support is currently in the high $1,400’s with short-term resistance around $2,700. Historical price action also shows that a market cycle top could theoretically provide around a 700% return from March’s…