Bitcoin is still in a rapid adoption phase, with the peak of the current cycle at $200,000, said Greg King, founder and CEO of Osprey Funds.
“I think we’re in a natural consolidation phase. Our view is that Bitcoin is in a bull run. It’s sort of in its fourth of fifth big bull leg of Bitcoin. If you look at it historically, as it’s gone through phases of adaptation, it puts in an all-time high that holds for at least 200 days, and once that happens, when that all-time high is pierced again, which we just had in November at $20,000, on average, the next bull run is a 900% return,” King said.
0:00 - Bitcoin price cycles
3:26 - Bitcoin as a currency
5:00 - Bitcoin's intrinsic value
6:22 - Osprey Bitcoin Fund
12:22 - Bitcoin derivatives markets
15:38 - Bitcoin's recent price action
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“I think we’re in a natural consolidation phase. Our view is that Bitcoin is in a bull run. It’s sort of in its fourth of fifth big bull leg of Bitcoin. If you look at it historically, as it’s gone through phases of adaptation, it puts in an all-time high that holds for at least 200 days, and once that happens, when that all-time high is pierced again, which we just had in November at $20,000, on average, the next bull run is a 900% return,” King said.
0:00 - Bitcoin price cycles
3:26 - Bitcoin as a currency
5:00 - Bitcoin's intrinsic value
6:22 - Osprey Bitcoin Fund
12:22 - Bitcoin derivatives markets
15:38 - Bitcoin's recent price action
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
StockTwits - https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
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