Since bursting out of its rising wedge formation on April 2, the big question on everyone’s mind is: Has Bitcoin bottomed? CNBC’s resident Bitcoin expert, Brian Kelly, thinks so.
The founder & CEO of BKCM LLC, a digital currency investment firm, stated his opinion on Bitcoin’s recent surge this week on CNBC Fast Money — claiming that he believes this Bitcoin revival is real.
“I actually think it is a Bitcoin resurgence,” Kelly told his fellow panelists, “I think there’s a really good chance that the December lows we saw in the $3000s were probably the lows for this cycle.”
‘A Strong Fundamental Tailwind’
One reason Kelly believes Bitcoin’s resurgence is the real deal is that the first and foremost cryptocurrency has only been improving on the fundamental front — particularly in regards to network activity. He explained:
There’s a couple things that are going on. You’ve seen improving fundamentals. You look at active addresses — that’s one of the big metrics I look at. That’s up 26 percent…