‘Room for Upside:’ Kraken Reviews December’s Crypto Market Rise

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Kraken Intelligence, our team of in-house research experts, has released its December 2020 Market Recap & Outlook Report, designed to summarize the month’s market developments and highlight key changes shaping our industry. 

Our newest report looks at what’s driving the most recent parabolic run and examines where BTC stands relative to both its prior market cycles and to more traditional assets. The report goes on to highlight the surge in Bitcoin’s adoption from corporations and celebrities, including NFL star Russell Okung, who became the first athlete to receive a salary in bitcoin. 

Additionally, we cover the monthly performance of assets including ETH, LTC, DOT and ADA.

Looking beyond crypto, we explore how the traditional markets have continued to rise in spite of a new COVID-19 strain, how the ECB expanded its Pandemic Emergency Purchase Program and which major industrial countries left their rates unchanged. 

By downloading our report, you’ll gain new insights and receive our latest data on the fundamentals that are driving growth in the industry. 

Key Takeaways:

  • Big Buying – Institutional adoption continued as companies such as MassMutual, SkyBridge Capital and One River Asset Management made multimillion-dollar Bitcoin allocations, while the CME announced it would offer ETH futures and Dow Jones said it will provide cryptocurrency indices in 2021.
  • Born to Run – The most recent parabolic run has left plenty of room for speculation among believers and skeptics. The technicals provide a much simpler picture – there is room for upside. We project prices could continue even higher, as history shows major crypto market tops often reach specific multiples of major indicators.
  • Behind The Rally – Bitcoin buyers continued to take purchases…

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