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Purchasing BTC of 20,000 Tokens Becomes One of the Causes of Rising Bitcoin Prices

Written By Hanny & Melissa on Wednesday, April 10, 2019 | Wednesday, April 10, 2019

CEO and founder of BKCM LLC digital currency investment company, Brian Kelly said that the next Bitcoin (BTC) target was the price level of $ 6,000, based on his interview with the press on April 2 yesterday.

During an interview with the press entitled "Futures Now", Kelly stated that it might be a reasonable target (For Bitcoin) as the first step was to approach $ 6,000.

Kelly's statement came after a wave of prices that was quite strong and shocking when the price of Bitcoin rose very strongly by more than 15 percent, and broke the price limit of $ 5,000 for the first time since last November, even though the price began to be slowed down by unsold sentimentso meaningful.

Kelly suggested that the cryptocurrency market found its basis by saying."All the indications that we have - whether it's fundamental, technical, quantitative analysis that we do, all show that we might at least start entering the lowest level touch process (Forindication of Reversal). What's interesting about this step is that this occurs in increasing fundamentals and increasing institutional sentiment". He Said

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Kelly also suspected that institutional investors were one of the main drivers of the increase in cryptocurrency prices, he said: "Even individuals with large wealth, family companies, are now starting to take a serious interest in crypto. There are several large brokerage companies that launch several detention solutions. So there are many offers that occur below the surface ".

According to information developed, price increases were also reported as a result of BTC purchases of 20,000 tokens, in some exchanges or by 0.11 percent of the total Bitcoin supply of 17,620,525 BTC. (cnbc.com/ auth)

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In February, Kelly explained that Bitcoin was still below its true value at that time. However, Kelly will not be surprised if Bitcoin touches the price level of $ 1,500 for the short term first before experiencing a strong surge in the long term.

And in March, Arthur Hayes, CEO of BitMEX and supporters of Bullish Crypto, said the prediction was, "The 2019 cut will be very tight, but the market will return to $ 10,000.

That is a very significant psychological obstacle. $ 20,000 is the main recovery. However, it took 11 months from $ 1,000 to $ 10,000, but less than one month from $ 10,000 to $ 20,000 returned to $ 10,000".

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