BKCM CEO: Worried about the short-term market prospects of Bitcoin

According to CNBC, Brian Kelly, chief executive of BKCM, an encryption investment company, said he is concerned about the short-term prospects of Bitcoin. In the latest CNBC show, Kelly explains why he keeps a close eye on the number of new addresses on the Bitcoin network. "My current concern about Bitcoin is that we have not seen the growth of Bitcoin addresses. The reason I see this is because this is the basis. This is the new investment. So we really need to see this growth. Since I started talking about Bitcoin in 2013, Bitcoin has traded with gold for the first time. Macro investors and other investors are actually using Bitcoin as a currency hedging tool. So this started, but it is pure speculation. We need See some buyers coming in. Some real buyers.” Kelly said that although he is cautious in the short term, he believes Bitcoin will jump higher at some point in the current cycle.