In the debate on the general state of the cryptographic market, Kelly has predicted that 2019 will be better than 2018. The other hollows lower, that would not be. It does not surprise me at all. As for what we should expect from 2019, Kelly continued:
"In 2019, the focus will probably be on currencies - Bitcoin, Litecoin and some of them - because geopolitical tension in the world is very tense. We begin to realize that some global macroeconomic players use Bitcoin as an alternative to their gold position or as a way to protect against currency exchange rates and volatility. "
According to Kelly, in 2019, Bitcoin will become the more accepted value for traditional investors.
However, when asked whether Bitcoin ETF is likely to receive government approval this year, Kelly has said there is no "release" for it.
The Bitcoin ETF - an investment fund monitoring tool for stockholding and stock market trading - by the US Securities and Exchange Commission (SEC) is a highly anticipated event that many believe is a prerequisite for entering institutional investors into the cryptographic market.
In 2018, DIP has received several requests for Bitcoin ETFs from various stakeholders, such as Winklevoss Twins, but has not yet approved any of them. Developing his stand, Kelly said that it is unlikely that the agency will soon change its mindset because "there are too many questions open." According to analysts, it will take more than a year to solve the existing problems. Problems.
Kelly also predicted that in the coming years the world would face a new recession, followed by a new financial crisis. However, the nature of the latter will be different from the previous crises, which would create a chance for the cryptocurrencies and make it a real alternative to money.
As Cointelegraph published in August last year, Kelly predicted that the Bitcoin ETF approval would not be until February 2019. He then confirmed the DIP argument that the existing BTC market was not ripe enough but said he was developing fast.