#Bitcoin Price Bullish Shift, What is Causing the Spike?
April 17, 2018 (Investorideas.com Newswire) During the first week of April, declining Bitcoin pressures were mounting around Bitcoin investors and traders but a recovery phase was aroused by passing $7000. At press time Bitcoin was valued $8,019, a slight drop of 1.50% during 24 hours. The increase in price is a welcome move that gives rise to analyst headlines like "Bitcoin could attain a new high of $25000 by year-end".
What's causing the Spike – Expert's Positive Prediction?
Seasoned investors and strategists like Thomas Lee, Tim Draper and Brian Kelly predict, "Bitcoin could set a new record in the short-term". Brian Kelly who is the founder and CEO of BKCM LLC, digital assets investment fund says it could peak to a new high of $25,000 by end of the year.
He says " "It's parabolic, but it would just be a continuation of the trend that we've seen"
During an interview with CNBC, Brian Kelly said, "This week we had big volume in futures. That'll hopefully tamp down the volatility a bit. It doesn't mean it can't reach those levels."
Kelly supports Draper's prediction for reaching Bitcoin $250000 by 2022 but also pointed out this prediction is four years out and said bitcoin will reach $20000 by the middle of the year and $25000 by the end of the year.
Moreover, he is positive about Bitcoin and other cryptocurrencies ; he calls it "the primary means of payment". In his view Kelly sees Bitcoin similar to the first big players on the internet in the early 80's.
Watch video -
Bitcoin In Early Days But It Will Be A Game Changer: CEO Brian Kelly | CNBC
Kelly explained Blockchain technology as follows;"I think this technology is going to work, it's going to be game changing, but it's very early days, so we can have this massive volatility,"
Tabassum is an enthusiastic author, web geek, writer & digital marketer. She has experience in SEO, Social Media, Branding, Content writing for tech, digital and cryptocurrency blogs. Connect with her on Twitter @tabassumnaaz9
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