Bitcoin (BTC) Will Hit $20,000 Again “Without Question”: CNBC’s Brian Kelly

Bitcoin To See New Highs Over Next Two Year Cycle

For over eight days now, Bitcoin (BTC) has held a steady uptrend. While last Tuesday’s move accounted for most of the past week’s gains, the crypto market has managed to continue up-and-up day-over-day, as buyers have continued to flood the market. And this, along with an array of other factors, has investors bullish across the board.

CNBC “Fast Money” recently hosted Brian Kelly, the chief executive of BKCM, in a bid to glean insight about what’s next for cryptocurrencies, specifically price-wise. Kelly, a somewhat notorious CNBC contributor (he has been slammed for shilling XRP at a few points), explained that Bitcoin’s recent move above and beyond $5,000 is actually a resurgence, adding that there’s a rapidly growing chance that December’s $3,150 low was likely it for this bear cycle.

Backing this call, the cryptocurrency investor looks to the number of active addresses, a number which he sees as a clear fundamental signal of Bitcoin’s strength. This figure, per Kelly, is up 26% since January, all while transaction numbers and hash rate have exploded.

This isn’t the only thing going for BTC and other cryptocurrencies at the moment though, as the BKCM head goes on to mention the fact that institutions are still loading their bags, so to speak. He specifically looks to the recent launch of Fidelity Investments’ institutional-centric platform, coupled with the recent record highs seen on the CME Bitcoin futures contract to further bring credence to his point.