Following a recent bad run of the markets which are showing bear-like trends at the moment, many investors are wondering whether this spells the end of cryptocurrency. On 23rd June, the original digital currency saw its decline to below the $6,000 USD mark for the first time in over six months. Not only does this impact other cryptocurrencies and investor sentiments, it has had an effect on the attitude of investors who are wondering if the market will ever see an increase again.
Brian Kelly, however, is not wondering and stated on national television last week with optimism that he thinks that Bitcoin is going to survive.
In a spot of banter on national television on CNBC, the hosts of Fast Money, Melissa Lee and Dylan Ratigan, attempted to have a “funeral” for Bitcoin before Brian Kelly, the CEO of BKCM, interrupted, expressing that a bright future is still ahead for the cryptocurrency.
— CNBC’s Fast Money (@CNBCFastMoney) June 22, 2018
Kelly believes that Bitcoin’s decline is going to be followed with a reverse pattern and will be on the rise for Bitcoin’s prices. He also thinks that the new regulations, such as in Japanese exchanges, will bring long-term benefits to cryptocurrencies, despite the current downturned market.
Kelly also gave his confident insight regarding the scene – reminding investors that Bitcoin’s price might be down from its highest peak but is still way up from a year ago, by about 150% more than it was.
Currently, Bitcoin is down by 0.04% day-on-day, and presently trades at $ 6,114.36 USD.