CNBC’s Brian Kelly Says Bitcoin Price is Rebounding, Bulls Are Coming Back

In the last 24 hours, virtual currencies seem to have recovered part of the price lost, and some cryptos such as Bitcoin gained more than $600 dollars in a few hours. Other currencies were also registering important gains, around 6-7%.

During his ‘Fast Money’ segment on CNBC, Brian Kelly explained why the market experienced such a rebound and what will happen in the next days with other virtual currencies.

He mentioned that the last recovery may be related to the CBOE Bitcoin futures. As he said, Bitcoin does not have a good performance during the days before the expiry data, but after it it can even grow up 20% in the next six days following the expiry.

It seems that Mr. Kelly is very excited about the future price of Bitcoin and other virtual currencies. He explained to the audience that altcoins are very correlated with bitcoin. But generally, Bitcoin is the leader.

If Bitcoin starts a bull run, most of the other altcoins would probably follow. The same would happen in a bear market.

But of course, some individuals are a little bit skeptical about Bitcoin resisting at $5,900. However, Kelly remains as bullish as always about the future price of Bitcoin and virtual currencies. Other experts explained that this movement in the market was related to a bull trap rather than a trend reversal for the middle and long term.

Other optimistic enthusiasts believe that this may be the start of a reversal.

At the moment of writing Bitcoin is being traded stable around $6350 dollars. Most of the top 10 virtual currencies are operating close to 0% change during the last day.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide