Bitcoin has managed to break the $ 5,000 mark for the first time since last November. Highly optimistic about this recovery, Brian Kelly, the founder and CEO of the cryptocurrency investment firm BKCM LLC, says the $ 6,000 mark would be a reasonable target for cryptocurrency.
Bitcoin, a big comeback?
The announcement of the return of the BTC seems to begin after the price has suddenly won more than 15% this week .
Brian Kelly commented on this event by saying that the cryptocurrency market is recovering.
"All the evidence we have, whether it's fundamentals, techniques, or quantitative analysis, suggests that we have started to put in place a leveling process," he says.In addition, during an interview on CNBC's "Futures Now" show, Kelly testified that the next Bitcoin target would be $ 6,000.
A sustained rise by institutional investors
According to CNBC, the surge in prices would have been supported by the purchase of 20,000 BTCs on several crypto-bourses, representing 0.11% of the current total supply of bitcoins (17,620,525 BTC).As for Kelly, he believes that institutional investors would be one of the main factors of this rise.
In his words:
"Even wealthy individuals, family offices, are starting to really care. Some major brokerage firms currently offer cryptocurrency custody services. So, there are a lot of things going on beneath the surface. "What do you think of the revival of the cryptocurrency market? Share your opinion in the comment section below.