The founder of BK Capital Management Mr. Brian Kelly says that the institutional investors need to come up and invest heavily in Bitcoin as the appropriate time with the correction in the prices of Bitcoin has arrived. He says that he has heard a zillion times from market analysts that Bitcoin is dead, the phenomenon is over, and crypto currency phenomenon is bubble; therefore one ought to look at the other side and straightforwardly invest in Bitcoin. Mr. Brian Kelly who is also a manager of portfolios of Digital Asset Fund has articulated his views in an online interview broadcasted over the CNBC news channel on the passing Tuesday.
Regarding the negative news of closing down of crypto currency exchanges in the nations of China and South Korea and the negative environment surrounding the whole phenomenon he says that this is the hands-off period where the money is moving from Asian markets towards the Western European and American markets as more and more institutional investors are coming up and investing heavily in this appropriate time when the prices of the Bitcoin have subsided.
Mr. Brian Kelly had also in the past have questioned the investors that there could never be an end of the phenomenon of cryptocurrencies; but also saying at the same time that the people must refrain from buying this crypto currency Bitcoin as the volatility is just too high at the time when the prices are such dangerously high. At the time when the prices of Bitcoin are touching a level of $ 20,000 in the international markets over the crypto currency exchanges which are spread geographically all around the world everyone was very much excited. At that time he was questioning the people to wait a little and let the prices subside on the correction side to start investing in.
In the passing previous week the prices of Bitcoin have become constant between the range of $ 10,000 to $ 11,000; therefore not crossing the mark and getting no recovery from the high ranges of $ 19500 which was in December of the year 2017. This has caused cynic waves to spread across the whole spectrum of crypto currency enthusiasts if the Bitcoin could end as a bubble? This was a whopping 50% drop in the prices of Bitcoin since the passing of December of year 2017. Last year in the month of December the whole crypto currency market was beaming with success as after the passage of Thanks giving Day the news of allowance of future trading in Bitcoin in United States send shock waves around the world and the whole ecosystem of crypto currencies; particularly of Bitcoin, was on a great rally unprecedented in the career of Bitcoin.
According to Mr. Brian Kelly; the down falling in the prices of Bitcoin is good for its health; and in general, good for the whole crypto currency world as it causes the shaky hands to go down and only the stronger ones to remain tied home have strong confidence in the phenomenon!