Bitcoin-related predictions have been literally flooding the cryptospace this year, and most of them have been on the bullish side.
After the bulls from last week, things are intensifying even more in this direction, and more such predictions surface coming from vocal crypto enthusiasts and analysts.
Bitcoin is reportedly racing towards new all-time highs
CNBC contributor Brian Kelly just said that Bitcoin is heading towards new highs. He believes that this will happen thanks to a few essential catalysts.
He also made sure to highlight the fact that we won’t be witnessing this right away, but over the course of a few years.
“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,” Kelly said.
He continued, “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.
We’re out of the crypto winter
He also sais that BTC has already hit a bottom and the catalysts are active BTC wallet activity and institutional investors.
Kelly believes that the December $3,000 lows are the lows for this particular 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 massive network activity out there.
He also pointed out the fact that big players, big institutions are becoming more interested in the cryptospace and we should expect a massive wave of institutional investors. This is another trigger that will reportedly bring BTC back to its well-deserved spotlight.
Fergus Reynolds joined Crypto Daily Gazette as managing editor in January of 2018 and is helping to lead the digital media startup’s next phase of expansion. A veteran business journalist with more than 10 years experience economics, Fergus has published content for Huff Post and Buzz Fee and was among the earliest journalists covering bitcoin and the innovations it later inspired. Fergus tells us he has “several” bitcoins.