2 counterarguments for CNBC’s Brian Kelly who sees a $19K Bitcoin top


CNBC Quick Cash dealer Brian Kelly sees three potential indicators of a value prime as Bitcoin (BTC) hits $19,000. Each basic and technical elements counsel a pullback might be imminent because the rally turns into overextended.

BTC/USDT 1-hour chart (Binance). Supply: TradingView.com

Kelly named three the reason why a short-term Bitcoin pullback may happen. The explanations have been the pump of altcoins, overpriced deal with progress and excessive funding charges. On Nov. 25, he said on CNBC:

“I’m nonetheless a Bitcoin bull. In the long term, I’m going to be a bull for the subsequent decade. However, if I take off the long-term investor hat and placed on my short-term hedge fund dealer hat, there are a few issues on the market that I’m beginning to see are indicators of a prime.”

Altcoin pump is shaking issues up

As Cointelegraph reported, different cryptocurrencies, or altcoins, corresponding to XRP and Stellar (XLM) have surged steeply in latest months. Their uptrends have been harking back to the January 2018 altcoin mania, when BTC began to drag again and altcoins rallied.