Bitcoin price – 2 counterarguments for CNBC’s Brian Kelly who sees a $19Ok Bitcoin prime

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

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

Kelly named three explanation why a short-term Bitcoin pullback may happen. The explanations had been the pump of altcoins, overpriced tackle 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 Fintech Zoom reported, various cryptocurrencies, or altcoins, corresponding to XRP and Stellar (XLM) have surged steeply in current months. Their uptrends had been paying homage to the January 2018 altcoin mania, when BTC began to drag again and altcoins rallied.