Bryan Kelly: three reasons why Bitcoin rally really began

Yesterday’s growth of Bitcoin not passed a major financial experts. BKCM LLC CEO Brian Kelly shared his forecast of the future of cryptocurrency in the show CNBC. This writes Bitcoinist.

How much will it cost Bitcoin

In the last 24 hours, the cryptocurrency reached a local high of $ 8300. Bitcoin is above eight thousand dollars for the first time since may.

Among the main reasons for the new bullrun analysts have identified the possibility of approval of the first exchange triptofana. While Kelly is not expecting the imminent arrival of the ETF.

The chances of the emergence of the first ETF on the crypt in 2018 is too low.

On 26 June, the Commission on securities and stock exchanges of the USA received another application to create an ETF for Bitcoin. The document was filed by CBOE Global Markets in partnership with SolidX and Van Eyck Investment. And although this is not the first appeal of the CBOE with the SEC, analysts have cited three reasons why it would be approved with high probability.

We will remind, recently the largest Fund BlackRock created a working group to consider options for investing in the stock market. Kelly interpreterpath this event as an indicator of the growing interest from major players.

People who didn’t want to buy Bitcoin in December because of the high price, now look for money in a completely different way. They understand that digital assets are not going anywhere and can be an important part of the portfolio of each investor.

The Kelly opinion shared by Barry Silbert. Previously, he has reported about record profit of his CryptoPhone, with most of the money for money received from institutional investors.

During his report, Brian Kelly called WEB 3.0 “the new Internet”. The analyst explained that large funds see in Bitcoin a key factor in creating an eco-system in the “new Internet”. Accordingly, the possession of a promising technology can bring good profit in the future.

Among the guests of the show on CNBC was also attended by the Futures Now trader Tim Seymour. The expert believes that Bitcoin is a very flexible asset. In his view, investors are more confident in buying it for 7800 than $ 6,000. Kelly agreed with the point of view of Seymour.

The more value comes to Bitcoin, the more important it becomes in the long run.

The main cryptocurrency not just compared with gold. Some even think that the coin will soon be able to replace the precious metal.

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