The bitcoin price is headed for the stratosphere. The bitcoin forecasts have been pouring in from seasoned investors and strategists like Tim Draper and Thomas Lee, each with a bullish price attached. Now Brian Kelly, founder and CEO of digital assets investment fund BKCM LLC, is joining the chorus, suggesting that bitcoin could set a new record in the short-term.
Here’s a look at the bitcoin price since this time in 2016, where the bulk of the dramatic rise occurred over a short period of time
Kelly predicts that with a resurgence in bitcoin transaction volumes, “there’s no reason” why the bitcoin price couldn’t not only revisit the $20,000 level but attain a new high of $25,000 by year-end, according to an interview with CNBC.
He also said that Draper’s forecast calling for $250,000 BTC by 2022 isn’t out of this world, adding that it would reflect a 3,000% gain over a four-year period. While that might “sound crazy,” he said, it’s not unprecedented, given the 4,000% return that bitcoin’s generated in the past couple of years.