Sustainable bull run

‘Sustainable Bull Run’
Kelly characterized last week’s momentum in the bitcoin price as “huge,” adding –

“We need the fundamentals, which is the number of transactions, to catch up to this a bit. And if we see that, then I do think we’ve bottomed here and we’ve got a sustainable bull run ahead of us,” he told CNBC.

The interview with CNBC turned to institutional capital such as futures coming into bitcoin, which Kelly said will hopefully “dampen” the volatility that’s inherent with the BTC price. Once that happens, Kelly said bitcoin will become more “usable,” adding –

“The big problem with bitcoin now is using it as a currency is very difficult because of the volatility … That doesn’t mean it can’t reach those levels. It just might not do it as fast as it did in the last two years. It might take four years like Tim Draper said,” noted Kelly.