Bull Run Kickoff: Market Expert Anticipates Crypto Market Surge
In a recent CNBC interview, Brian Kelly, the CEO of BKCM, a digital asset investment firm, expressed his positive outlook on the cryptocurrency market.
He compared the market’s current trajectory to indicators seen in traditional stock markets, highlighting the expansion of the crypto market to encompass smaller-cap cryptocurrencies like Polkadot, Cosmos, and Solana.
Kelly underscored the significance of the market’s widening rally and the substantive developments occurring within various cryptocurrencies. He pointed out the burgeoning activities within decentralized exchanges and the rising popularity of decentralized lending in the DeFi space.
These factors, according to Kelly, suggest a broadening bull market with robust fundamentals, indicating the potential for a prolonged upward trend spanning 12 to 18 months, potentially affecting other digital currencies.
Addressing the U.S. Securities and Exchange Commission’s (SEC) possible approval of spot market Bitcoin exchange-traded funds (ETFs), Kelly anticipated a probable market reaction.
READ MORE: Analyst Foresees SEC Rejection of Bitcoin ETF, Warns of Market Impact
He noted the heightening speculative enthusiasm surrounding ETFs, foreseeing a probable sell-off upon their approval. However, he regarded any resultant dip as a buying opportunity, speculating that the entrance of traditional finance into Bitcoin through ETFs could drive a subsequent rally.
Kelly highlighted the interest from individuals and private wealth managers seeking to allocate a portion of their portfolios to Bitcoin through these vehicles.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
