RATE Group | Bitcoin Can Take 50% of Gold’s Market Share, Hit $250,000 — CNBC
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Bitcoin Can Take 50% of Gold’s Market Share, Hit $250,000 — CNBC

20 Dec Bitcoin Can Take 50% of Gold’s Market Share, Hit $250,000 — CNBC

Posted at 17:05h in Bitcoin News by

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Bitcoin (BTC) gained fresh rare support from mainstream media on Dec. 20 after CNBC entertained the idea of a $250,000 in the coming years. 

In an episode of the network’s Fast Money segment, several well-known Bitcoin bulls collaborated to present a buoyant picture of the cryptocurrency’s future. 

Kelly sympathizes with Draper’s Bitcoin price prediction

Resident analyst Brian Kelly joined Fundstrat Global Advisors co-founder Tom Lee in arguing that in the mid-term, the sky-high price tag was both possible and even a reasonable aim.

For his part, Kelly gave credence to investor Tim Draper, who earlier in the week had claimed BTC/USD could hit the $250,000 as soon as the end of next year. 

Kelly highlighted the fact that those levels fit with a price channel Bitcoin had maintained since 2013.

“If Bitcoin just stayed in this pattern — and this is normal analysis people do on all asset classes — if it just stayed that channel, the top of that channel’s around…

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