Bitcoin-related predictions continue in the same manner – an optimistic trend.
Today, we’re presenting another recent bullish take on the most important crypto in the market.
BTC is heading for a new all-time high
CNBC contributor Brian Kelly says that Bitcoin is heading for brand new all-time highs.
He said that he believes this will happen over the next couple of years, so it’s not a prediction for the short term.
“Without question – this next cycle. You’re talking probably a two-year cycle. In 2020, the supply of Bitcoin is going to get cut in half. The cycle for Bitcoin is usually about a year before to a year after. So over this two-year period, you will likely get this big upswing, particularly if the institutions come in, and I think we surpass all-time highs,” he said.
Bitcoin has already hit a bottom
Kelly also pointed to the active Bitcoin wallet activity and institutional investors as two main catalysts that are showing that BTC has already hit a bottom.
He said that the December $3,000 lows are probably the lows for this cycle.
Kelly said that active addresses are up by 26% from the January lows and transaction levels are back to the 2017 levels, and this means that there is quite a lot of network activity.
He also said that Fidelity is still rolling out its institutional platform.
He gave the big institutions as an example of another element that continues to grow – their interest in the crypto space.
He concluded by saying that the massive wave of institutional investors will bring Bitcoin back to the spotlight.
If BTC can surpass $6,200, new bulls are expected
We recently reported that CryptoSlate had mentioned Vinny Lingham who is a general partner at Multicoin Capital and the CEO of Civic.
He says that if BTC can break out of $6,200, it has the potential to signal the start of a major bull run.