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Brian Kelly: “Bitcoin's next target is $ 6,000”

Brian-Kelly-Bitcoins-next-target-is--6000 Brian Kelly | Head of BKCM LLC

The founder and head of investment company BKCM LLC Brian Kelly said that the next goal of Bitcoin was the mark of $ 6,000.

In an interview with CNBC's "Futures Now" program, Kelly said that after yesterday's sudden jump in the first cryptocurrency rate by 17% and reaching the $ 5,000 mark, the bottom of the cryptocurrency market seems to have passed.

"All indications that we have — whether it be fundamentals, technicals, the quantitative analysis we do — all suggest that we probably have at least started to put in the bottoming process. [...] What's interesting about this move is it's happening on improving fundamentals and improving institutional sentiment,"

Kelly said.

According to the head of BKCM LLC, large institutional clients should be the basis for the growth of Bitcoin.  

"Even high net worth individuals, family offices, are starting to take a serious interest. There's a couple major brokerage firms that are rolling out some custody solutions. So there's quite a bid going on under the surface," 

said Kelly.

Earlier, a cryptocurrency expert expressed the opinion that Bitcoin is undervalued by 50%. He noted that the year 2019 should be more successful for cryptocurrency than 2018, and it seems he was right. 

SOURCE

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