Rafael Shultze-Kraft, Glassnode's CTO, believes the price of the reference crypto will reach 6 figures in the future.
According to him, the price of the crypto could increase tenfold in the future. In particular, he said on Wednesday through his official Twitter account he is really optimistic about the reference crypto, supporting his prediction with six "of the most important on-chain market indicators that are currently hovering at the same levels they were at the start of 2017."
All the predictions made by the company's chief technology officer suggest that the price of Bitcoin will exceed 6 figures, with only one forecasting the price of the crypto will not exceed $200,000.
To arrive at these conclusions, Schultze-Kraft has measured the profits produced when these indicators moved from a similar position back in 2017 until the price of the crypto hit its all-time high at the end of that year. He has then multiplied the current Bitcoin price by the same percentage increase, resulting in the predictions he has shared.
However, Kraft-Schulze has asked his followers to take these figures with caution.
Glassnode's weekly on-chain data report from December 8 suggests Bitcoin is likely to fall before reaching new highs as investors look to make profits in the run-up to the retest of $20,000.
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