The most important event of 2019 was the Bitcoin rally, which began in April. In addition, cryptocurrencies have become even more popular among both retail and institutional investors.
Many experts said that cryptocurrencies in 2019 will be in the mainstream, and it seems that we are on the way to achieving this important goal.
New type of trade
BKCM supporter and CEO Brian Kelly called the year 2019 “turning point” for bitcoin, as the main cryptocurrency managed to significantly improve its position in global finance.
Brian Kelly appeared on Fast Money (CNBC) and announced a “new form of trading”:
“I’ve been talking about bitcoins since 2013: if earlier I was asked if Bitcoin is traded as a macro asset, then I answered no. But now the situation has changed. ”
He also said :
“What we see this year are large hedge funds. Traditional investors are now trading bitcoins , seeing this as an alternative or addition to gold, using cryptocurrencies for macro hedging. ”
Why is Bitcoin suddenly tracking gold? @BKBrianKelly breaks it down: #btc pic.twitter.com/UkAqEX8Zi4
– Squawk Box (@SquawkCNBC) August 8, 2019
However, Kelly himself refuses to recognize bitcoin as a safe haven for money, since it is “five times more volatile than the S&P 500”. At the same time, he points out that many investors call Bitcoin a “safe haven” and use it as “digital gold.”
Publication date 08/13/2019
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