Make Kitco Your Homepage

Why $200k Bitcoin is next high; adoption phase not over yet - Greg King

Kitco News

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. 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.