Ethereum did reach a new all-time high this very morning, and Bitcoin, despite not breaking any new price records, is fascinatingly sticking ground while remaining closer to the $60k price point. It means that the bullish run that did accompany these both well-accomplished cryptocurrencies has not left them, and it might seem that both of these can scale some great price walls with the passage of time, provided the bullish run remains intact.
According to the Kraken report, the currently ongoing trading patterns are the exact replica of the traditional trading schemes from back in the day, and if history repeats itself, then both Bitcoin and Ethereum could see a positive bump in their price. But for Bitcoin, it would have to take a $10k price dump before heading towards the north again. Bitcoin has gained almost 30% since the bullish run did manage to stick by it and has finished its sixth consecutive month in green which is an accomplishment of its own.
According to the historical records, something similar was happening with Bitcoin in 2013 when it did have months of increase back to back in terms of price, and currently, Bitcoin can match the same patterns after April because, on average, it is the second-best month with a medium increase of about 51% according to Kraken report.
If everything goes right and the previous trends are to be seen, then going straight, Bitcoin can see about a 50% surge in its price and settling for the $90k price point in the future. However, as far as Ethereum is concerned, the Kraken report was simply much more generous around it as it ended up giving a 700% price boost to Ethereum, settling the new price around $15k for the future exhibits if things continue on the same road these seem to be at the moment.
But it is highly unlikely that it would pave out exactly like last time, or the fact that volatility of the crypto market can be totally ignored here. Still, it is a long shot, but in the world of probabilities, this can be taken as a positive sign for the future of the crypto market if this ever happens.
If the big crypto fund management firms and institutional investors and companies like Tesla continue to purchase big quantities of BTC and ETH this will most definitely happen, and even will go higher