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Brian Kelly: Bitcoin Will Dump Significantly to Present a ‘Generational Buy’ Opportunity

While on CNBC’s Fast Money episode on August 22, 2019, Brian Kelly, CEO of crypto investment firm BKCM said Bitcoin has gotten a little ahead of itself. Also, he sees the top cryptocurrency dumping in price, in the short term, which will offer a generational buying opportunity. Bitcoin Dumps by 27% From its Year-to-date High  As at press time, Bitcoin’s price is $10,107, which is a 3.35% decrement in the past 24 hours. The cryptocurrency has also struggled to maintain its foothold at the $10,000 price level for almost three weeks now. In addition, Bitcoin has sunk by 27.15% from its year-to-date high of $13,796. Brian Kelly, on the other hand, believes Bitcoin will decline even further because the fundamentals did not support its spike to the $13,000 zone. Similarly, the dump in price will be comparable to that of December 2018 where Bitcoin had tanked as low as $3,400. When that happens, Kelly said it would present a generational buying opportunity. Bitcoin’s Active Daily Addresses Decline In Contrast with Price Explaining why he thinks Bitcoin will retrace in the short term, Kelly said Bitcoin’s active daily addresses have been declining since the end of June and July this year. On the contrary, Bitcoin’s price was surging while the decline occurred. Also, the CEO remarked that the 30-day moving average also shows that Bitcoin could tank even lower. When asked what the signs of a generational buy opportunity are, Kelly said it depends on what the active daily addresses are depicting. According to him, if the activity on Bitcoin’s network increases whereas the asset’s price is crashing, then it shows a bull run is ahead. Also, if the market sentiment changes to “Bitcoin is dead”, then that’s the time he feels the crypto asset will spring up once again. Bitcoin’s Dump in Price is Not a Certainty Nonetheless, Kelly was quick to point out that his forecast might not be the case. The latter, he attributed to the fact that a lot of institutional investors are moving to derivatives. As such, relying majorly on the active daily addresses to determine where Bitcoin is headed, might be misleading. He added that things might have changed this time around. Like Brian Kelly, several people in the crypto community are also bearish about Bitcoin in the short term. They have opined that Bitcoin will retrace to the $8,000 level soon. Others like WelsonTrader have remarked that Bitcoin will decline while altcoins, which have been stable or dipping most of the year, will finally take a significant leap in price. The post Brian Kelly: Bitcoin Will Dump Significantly to Present a ‘Generational Buy’ Opportunity appeared first on ZyCrypto.
ZyCrypto

Brian Kelly Is Short-Term Bearish but Sees 'Generational Opp' in Bitcoin

By CCN Markets: The bitcoin price might have broken back above the $10,000 level today, but one notable trader isn’t impressed. Speaking on CNBC, crypto investor Brian Kelly, who is usually the biggest bitcoin bull in the room, made it clear that he has turned bearish on BTC/USD despite its recent bounce. Longer-term, however, Kelly […] The post Brian Kelly Is Short-Term Bearish but Sees 'Generational Opp' in Bitcoin appeared first on CCN Markets
CCN

Brian Kelly Considers 2019 Will Be A Very Important Year For Bitcoin

Brian Kelly, the founder and CEO of BKCM LLC, considers that the current year is going to be a turning point for Bitcoin (BTC), the largest and most […] The post Brian Kelly Considers 2019 Will Be A Very Important Year For Bitcoin appeared first on UseTheBitcoin.
Use The Bitcoin

Brian Kelly Calls for Caution While Trading “Extremely Volatile” Bitcoin (BTC)

The price of Bitcoin soared above the $12,000 USD mark earlier on Thursday this week causing a frenzy in the cryptocurrency market. The coin is still on its volatile projection reaching highs last witnessed in December 2017 during the massive bull run. The increasing value of the pioneer cryptocurrency is sparking an interest in retail […]
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Brian Kelly news by Finrazor

OPINION

In the spotlight of this week: co-founders of Centra Tech are sentenced to jail, Brian Kelly has launced a new crypto ETF and JPMorgan is interested in digital assets.

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DIGEST

Centra Tech's founders are sentenced to jail, Marc O’Brien joined Crypterium, ETF is launhed, Jack Dorsey’s opinion, Binance adds TrueUSD, China published its crypto rating, electricity consumption, Sberbank used Hyperledger Fabric blockchain, Microsoft joins the crypto ban, JP Morgan talks about crypto, Wozniak supports blockchain, ETH futures, Taihuttu still holds BTC, IBM’s token, crypto education in France

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HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
Benzinga

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
Benzinga

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Wells Fargo Plans Blockchain-Based Internal Settlement Services

The world’s fourth-largest bank, Wells Fargo, announced plans to use its digital token to pilot internal settlement services, which would run on its distributed ledger technology (DLT) platform. Per the press release September 17, 2019, the pilot project is expected to take off in 2020 and would initially focus on USD transfers.  Digital Token forRead MoreRead More. The post by Anthonia Isichei appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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