The Cryptocurrency businessman and commentator at CNBC, Brian Kelly, stated that there was no opportunity to approve the Bitcoin (BTC) fund in 2019. Kelly commented in an interview with Cointelegraph at the Crypto Finance Conference, Switzerland, on January 18.
Discussing the general state of the pre-coding market, Kelly predicts that 2019 will be better than 2018. Analysts argue that we are somewhere near the end of the bear market, but we can have other reductions, it will decrease. I am not surprised at all. Talking specifically about what we should expect from 2019, Kelly continues:
Perhaps in 2019, the main focus will be on currencies – Bitcoin, Litecoin, some of them – because we have quite a lot of tensions about geography and politics in the world. We began to realize some players using Bitcoin to replace their gold position or using Bitcoin as a way to counter the volatility and volatility of fiat currency.
According to Kelly, 2019 will see Bitcoin become a more accepted asset among mainstream investors.
However, when asked about the possibility of ETF Bitcoin getting the approval of government this year, Kelly said there was no hope for that.
Approval of ETF Bitcoin – an investment fund that tracks the value of basic assets and transactions on stock exchanges – by the US Securities and Exchange Commission (SEC) is a very expecting event that many people consider to be a prerequisite for large investors to participate in the pre-coding market.
In 2018, SEC received many Bitcoin ETF applications from various players, such as Winklevoss twins, but has not yet approved any of them. Expanding his views, Kelly said that the agency is unlikely to change its position in the near future, because there are too many unresolved issues. Since then, according to analysts, it will take more than a year to solve the current problems.
Kelly also predicts that in the coming years the world will face a new recession, followed by a new financial crisis. However, the nature of them will be different from previous crises, which will deliberately create a lot of opportunities fo rCryptocurrency.
In August last year, Kelly had previously predicted that Bitcoin ETF’s approval would not happen earlier in February 2019. He then confirmed the SEC’s argument that the current market of BTC is not ripe enough, however, he emphasized that it is growing rapidly.