Opinion: the Next Bitcoin Target is $6000

As we all remember, yesterday, April 2, 2019, there was a rapid breakthrough in the cryptocurrency market. The price of Bitcoin for some time was higher than $5000 followed by a slight rollback. It should be noted that according to data from the Coinmarketcap website, at the time of this writing, BTC rate is 4969 US dollars.

After this pump, founder of an investment company BKCM LLC Brian Kelly speaking on CNBC, noted that Bitcoin had shown excellent growth and stated that the next target was a milestone of $6000.

“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.

Recall, that just a few months ago, in an interview with Cointelegraph, Kelly said that Bitcoin price could fall below $3000 and even $1500, but this asset still remains undervalued. In his opinion, it is institutional investors that will be able to influence the price of Bitcoin.

“Even high net worth individuals, family offices, are starting to take a serious interest in bitcoin. 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”, Kelly added.

It should be noted that the cryptocurrency market continues to grow for the second day showing its yearly maximum. If you don’t want to miss the latest news from the world of the digital economy, stay tuned to our website and follow us on social networks.

We want to remind you:

The Price of Bitcoin Skyrocketed to Around 5 Thousand Dollars

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