Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

CNBC’s Crypto Bull Says He’s Concerned About Bitcoin Market: Here’s Why

by Daily Hodl Staff
August 13, 2019
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

CNBC Bitcoin bull and CEO of crypto investment firm BKCM, Brian Kelly, says he’s concerned about Bitcoin’s short-term prospects.

On the latest episode of Fast Money, Kelly explains why he’s closely watching the number of new addresses being created on the Bitcoin network.

“What concerns me about Bitcoin right now is we’re not seeing the address growth. The reason why I look at that is because that’s fundamentals. That’s new money coming into it. So we really need to see that address growth.

What’s been going on is Bitcoin’s been trading right with gold for the first time since I started talking about it in 2013. Macro players and other investors are actually using Bitcoin as a currency hedge. So that’s starting to happen but it’s pure speculation. We need to see some buyers come in. Some real buyers.”

Although he’s playing it safe in the near term, Kelley says he thinks Bitcoin will jump higher at some point in the current cycle.

“I do think we have one more leg, and generally in Bitcoin and other commodities, the last leg of the rally is usually a pretty big, powerful trade…

ADVERTISEMENT

This is the perfect storm for Bitcoin. You have multiple currencies around the world breaking down at the same time that institutional investors are actually embracing this asset class. So the combination of those two things has funneled all the money into Bitcoin. That’s why Bitcoin’s outperformed so much in this environment.”

Crypto analysts are looking to see whether people in Argentina are investing in Bitcoin after the peso plunged 15% against the dollar on Monday. Dovey Wan, founding partner of crypto-asset investment firm Primitive Ventures, notes Bitcoin is trading at a high premium in the country.

Thanks @Mariandipietra for pointing it out, P2P Bitcoin OTC on Argentina usually refers to this price for trade. So the ARS pricing there is ~ $13448, does see a pretty high premium (over $2000 more!)

Now the question is how long such premium has lasted? why arb didn’t happen? https://t.co/5seqrUcf5Z pic.twitter.com/Wv7SEo1vHf

— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) August 12, 2019

Meanwhile, economist Alex Krüger is highlighting Bitcoin volume in Argentina on the peer-to-peer exchange LocalBitcoins, which dropped last week to a total of just 23 BTC.

“One could point at LocalBitcoins’ ever-growing volumes. However, volume is only growing in ARS terms due to the depreciation of the peso. Volume has been dropping steadily and registered only 23 bitcoin in total last week. (Would expect though a sharp increase this week).”

Source: Coin.dance
ADVERTISEMENT
Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • OpenDAX 3.0 With Exchange Liquidity Network (XLN) by Openware Goes Live
    March 6, 2021
  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$53,699.00
$53,699.00
7.7%
Ethereum
$1,819.29
$1,819.29
7.05%
Binance Coin
$241.77
$241.77
3.07%
Polkadot
$35.52
$35.52
4.4%
Cardano
$1.12
$1.12
0.06%
XRP
$0.478553
$0.478553
3.49%
ADVERTISEMENT

Spotlight

  • Bitcoin Breakout Signal Shows Top Crypto Likely Heading to $100,000 As Investors Choose BTC Over Gold: Bloomberg Analyst
    March 4, 2021
  • SEC’s Case Against Ripple and XRP Is Huge Risk for Crypto Exchanges, Says Kraken CEO
    March 8, 2021
  • The Elon Effect – Companies Now Racing for a Piece of the Bitcoin Pie
    March 1, 2021
  • IRS Answers Critical Question on Bitcoin and Crypto Tax Reporting for US Citizens
    March 5, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.