Brian Kelly: reducing the cost of Bitcoin — a short-term correction
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In may, investor and co-founder of hedge Fund BKCM Brian Kelly in the short term will rise to 14 thousand dollars. The reason for growth will be the production of products to trade coins major investment banks by type Goldman Sachs.
Now Kelly stated that the downfall of Bitcoin 7 percent for the week — not that other, as a minor correction. Soon the first cryptocurrency will play a position and rise above 8.5 thousand dollars, he added. His words are quoted .
theWhen will Bitcoin grow up? The analyst
The stock market finally turned in a positive direction, said Kelly in an interview with CNBC. According to the analyst, the reason for this was the decision of the SEC to refuse to recognize Bitcoin and Ether securities, and the excitement around open-ended investment funds (ETF) focused on Bitcoin.
Bitcoin is too quickly increased from 5.8 to 8.4 thousand dollars. For someone current decline may seem surprising, but it's a normal correction. It is worth noting that Bitcoin is not yet ready for my Prime time and coin, and the market is still weak. The bright future of the coin is found.
Kelly added that the decision of the SEC approving an ETF is paramount. However, this will not happen until the USA does not appear adjustable cryptocurrency exchange, and cryptosmart not begin to provide quality services and products for institutional investors.
All this can happen in the next four to five months, says the analyst. Then the SEC will approve the ETF and Bitcoin and the entire stock market will go up. Waiting for? Time traditionally while away our in . There is very cool, and admission is free.
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