At a minimum, they are looking for widespread financial transformation. Describing Brian Kelly as a Bitcoin Superfan is no exaggeration. By agreeing you accept the use of cookies in accordance with our cookie policy. Late last week, the currency struck the $3,100 range for the first time in over 15 months, though at press time, the price has risen back up to roughly $3,400. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. “People may be skeptical [but] let’s remember in March, Bitcoin was $3,500, so it’s already tripled all right?…. Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. The first, and perhaps most important, item to take note of is Kelly’s audience, particularly at CNBC. The price had spent some time between $10,000 support and $11,000 barrier after a reversal from the 2020 high at $10,400. 20), Whale Moves $1.16B Bitcoin in Largest-Ever Dollar Transaction, Binance Responds to Allegations That Its U.S. “Well, for me, it’s going to be Bitcoin. In addition to his role as a prolific Bitcoin supporter of CNBC, Kelly also happens to be the CEO of BKCM, an investment firm specializing in digital assets. If he were a follower of music or pop culture, he just might have “I love Bitcoin” tattooed across his heart. According to a report published by Bloomberg, the Governor of the regulator bank, Benjamin Diokno has confirmed the formation of a task group that will be diving into the possibilities of digital currency. For next year, Kelly is even more optimistic and puts the cryptocurrency at $50,000. XRP/USD as reported earlier is holding above $0.24. “It’s better than gold at this point because we had the halvening, and when I look at the Bitcoin cycles, the bull markets tend to cluster around the halvenings, and so we’re tracking right along like the 2016 halvening cycle, and that would imply that sometime in Q2 2021 you’re looking at a Bitcoin price of 50,000. For now, the biggest task is to reclaim the ground above $320 which will allow bulls to focus on gains beyond $330 and ultimately $350. CNBC Fast Money host Brian Kelly … It just won’t happen. Investor sentiment is growing increasingly bearish regarding Bitcoin price action and since the fall from $13,800 and repeated rejections in the $12k zone it seems a drop to low 9s and below is becoming a real possibility. At other times in the recent past, he has claimed to have converted 90 percent of his wealth into digital currency like Bitcoin and Ethereum. The cryptocurrency market is mainly in the red when the United States is conducting its 2020 presidential elections. A historically financially conservative platform with a broad audience spanning traditional finance methodologies, CNBC is neither the go-to for investing advice nor is it an expected source of pro-bitcoin investment strategies.
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