CEO of Crypto Investment Firm Believes Bitcoin Rally Will Lead to Higher Prices

2018-7-25 00:30

In case you haven’t noticed, Bitcoin is rallying pretty hard right now. For Brian Kelly of BKCM LLC, these moves are likely to lead to a renewed bull run.

Brian Kelly: BTC Price Driven by Speculation on ETFs, Institutional Money, and Web 3.0

After a pretty lousy start to the year, Bitcoin prices appear to be resuming an upwards trajectory. The price has surged from below $6,000 in late June to over $8,243 at the time of writing.

Crypto investment and trading expert Brian Kelly believes the gains are likely to continue too. The BKCM LLC founder and CEO spoke to CNBC’s “Fast Money” on Monday. During the segment, he touched upon the bear market that some in the space are saying is now over:

“There were a lot of big sellers out there… That appears to be over.”

Kelly went on to claim that the digital asset market was a “reflexive one”. By this he means that when the value begins to climb, more people want to buy Bitcoin and this leads to higher prices along with even greater demand.

According to Kelly, there are three reasons behind the current price moves:

Bitcoin ETF. Greater murmurs from institutional players. Web 3.0.

First and possibly most important to the immediate price rally is renewed optimism for a potential Bitcoin ETF. It’s widely believed that the U.S. Securities and Exchange Commission (SEC) will decide if they will approve the most promising of the many proposals they have received. Whilst Kelly doesn’t think that the U.S. financial regulator will green-light the VanEck proposal he does go on to state:

“But that doesn’t stop speculation on that.”

Another important factor playing into Kelly’s belief that an even larger price move is on the horizon is increased institutional interest. He told CNBC:

“I can tell you from the calls that I’m getting, people that looked at [bitcoin] in December and didn’t like the price are coming back now and saying, ‘Alright, this thing is not going away. We need to understand what it is. Where does this asset class fit in to our portfolio?'”

Finally, Kelly believes that cryptocurrencies are an important factor in creating what he and many others call a “Web 3.0”. He refers to the outcome of the current transformative process as “a new internet, an improved internet.”

Cryptocurrencies will be a crucial part of this. They are already allowing the sending of value across global networks. The CEO continued:

“And that is exactly why institutions are starting to get into this. They’re seeing how this fits into a portfolio of web 3.0 stocks.”

Featured image from Shutterstock.

The post CEO of Crypto Investment Firm Believes Bitcoin Rally Will Lead to Higher Prices appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66204.83 (+0.10%)
Объем 24H $41.104b
Изменеия 24h: 5.90 %, 7d: 8.29 %
Cегодня L: $65723.56 - H: $66525.69
Капитализация $1304.17b Rank 1
Цена в час новости $ 8273.42 (700.21%)

bitcoin lead prices firm kelly ceo pretty

Источник: newsbtc.com

bitcoin lead → Результатов: 76


Фото:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Фото:

To Build Bitcoin Cash Mobile Wallet Startup Raises $600K

CoinText.io, a blockchain startup developing a way to conduct offline bitcoin cash transactions, just closed a $600,000 seed funding round, the company announced Friday. Lead by Texas-based Yeoman’s Capital, which has previously invested in Fantom, OpenGarden and tZero, the funding round will be used to develop a mobile wallet which can support bitcoin cash transactions

2018-6-30 01:46


Фото:

Banks’ Crypto Account Refusals Lead to Polish Bitcoin Association Challenge

An industry group in Poland is attempting to challenge banks that are allegedly refusing to provide services for firms associated with cryptocurrencies. The Polish Bitcoin Association (PBS) has appealed to the Office of Competition and Consumer Protection (OCCP), requesting that the antitrust authority start investigating the alleged restriction of competition. It filed a letter with

2018-6-29 21:00


Research: ETFs Could Lead Bitcoin Price to $35,000 and It Isn’t Far Away

According to a cryptocurrency research group, the bitcoin price could increase to over $35,000 with the emergence of a bitcoin exchange-traded fund (ETF), which isn’t that far away. Road to $35,000: Institutional investors or ETFs Prominent investors including Ari Paul, the co-founder of BlockTower, a cryptocurrency hedge fund founded by former Goldman Sachs executive, have.

2018-6-25 10:00


Фото:

Markets Update: The Triple Bottom has been Confirmed but Where will it Lead in the Future?

The top cryptocurrency market held by bitcoin core (BTC) has touched a triple bottom at $5,832 during the early morning June 24 trading sessions. Also read: The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More Triple Bottom Achieved: What’s Next for Crypto-Markets? As we mentioned above the last time prices were this low was back in

2018-6-24 21:37


Monero’s [XMR] Riccardo Spagni in hot flames over an offensive Tweet!

On Twitter as @fluffypony, Monero’s Project Lead Riccardo Spagni has expressed contempt over a recent tweet by an apparent Bitcoin Cash supporter named TheLegendaryTwatter. An Open Secret is a Twitter account that shares criminal stories of pedophilia and sex offenders from Hollywood with an intention to expose the truth. Recently, when the account posted the […]

2018-6-18 23:53


дальше еще 27 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Falters but Fundamentals Remain Intact

The bitcoin price may be down 15% on the week, but one high-profile crypto investor is focused on fundamentals and says the bottom could be in. The post Bitcoin Price Falters but Fundamentals Remain Intact appeared first on CCN.com

You Had Better Buy Bitcoin Right Now – CNBC’s Brian Kelly

Of late, there have been a lot of cryptoanalysts and Bitcoin fans voicing their opinions in favor of a bull run. Most of them have opined that a Bitcoin bull run is imminent between 2019 and 2020 especially because the Bitcoin network is getting a block reward reduction (halvening) in May 2020.

4 Reasons to Be Bullish on Bitcoin and Altcoins, According to Brian Kelly

Since bursting out of its rising wedge formation on April 2, the big question on everyone’s mind is: Has Bitcoin bottomed? CNBC’s resident Bitcoin expert, Brian Kelly, thinks so.   The founder & CEO of BKCM LLC, a digital currency investment firm, stated his opinion on Bitcoin’s recent surge this week on CNBC Fast Money — claiming that he believes this Bitcoin revival is real.

Brian Kelly Predicts Bitcoin Bull Run on the Cards

Bitcoin Bull run is on the cards says Brian Kelly, CNBC-analyst, as he reviewed the rebound the coin has posted in the past 24-hours. Nearly all of the assets posted gains higher than 6-7% with prices of bitcoin breaching $6,400 and looked to head upwards.