Kraken report: Bitcoin is on the verge of a multi-year breakthrough, or may trigger a new round of bull market

Recently, the US exchange Kraken released a report for its VIP traders. The report said that Bitcoin is on the verge of a multi-year breakthrough, which may trigger a new round of bull market. This document highlights the trend of Bitcoin in the bull market since 2017.

Kraken said that this model shows that Bitcoin is in the stage of integration for many years, preparing for the next rise: “If Bitcoin can rise above $10,500 and thus hit a new high in the macro trend, it can be said that Bitcoin has entered A new bull market.”

Earlier news, Kraken also said that Bitcoin has not yet gotten out of trouble. BTC is currently in a triangle consolidation range. If it fails to cross the trend line and break the $10,000 mark, then it is likely to return to the multi-year support of $6200.