The most important event in 2019 has become the rally of bitcoin, which began in April. In addition, the cryptocurrency become more popular among retail and institutional investors.
Many experts say that cryptocurrencies in 2019 will be in the mainstream, and it looks like we are on track to achieve this important goal.
A new kind of trade
A supporter of bitcoin, and the CEO of the company BKCM Brian Kelly called 2019, “turning” to bitcoin as the main cryptocurrency was able to significantly improve their position in global Finance.
Brian Kelly appeared on Fast Money (CNBC) and declared a “new kind of trade”:
“I’m talking about bitcoin since 2013: if you had asked me whether bitcoin is traded as a macro asset, I replied “no”. But now the situation has changed.”
He also said:
“What we see this year, is a large hedge funds. Traditional investors are now trading bitcoin, seeing it as an alternative or addition to gold using the cryptocurrency for macro hedging”.
Why is Bitcoin suddenly tracking gold? @BKBrianKelly breaks it down: #btc
However, Kelly refuses to recognize bitcoin as a safe haven for money because it is “five times of volatility, the S&P 500”. At the same time, he indicates that many investors called the bitcoin a “safe haven” and use it as “digital gold”.