Crypto investor Brian Kelly has made many comments following the massive rally in Bitcoin price. altcoin He believes that the price may start to rise next month.
Brian Kelly, founder and CEO of digital asset investment firm BKCM, said in a new interview on CNBC’s Fast Money that he expects some altcoins to rally in January following a historic price pattern.
What we usually see in bull markets is that about a month after Bitcoin moves, it trends towards altcoins. We saw Ethereum explode on Sunday night and then Solana and then it started moving down the list and so that’s what I expect. Let’s say it’s around January.
Kelly also thinks that crypto markets have been facing downward pressure from macroeconomic conditions for about two years, but now those conditions are changing to make risky assets like Bitcoin more attractive to investors.
I think this is a macro headwind. We have been struggling with macro headwinds for almost two years; Rising interest rates, strengthening dollar, all of these were problems. The Fed is probably done. Europe has a real problem on its hands. China has a big problem on its hands and Japan is unlikely to tighten up. So when I look at global liquidity, I think yes, gold and Bitcoin will both do well in this environment.
Finally, BitcoinHe predicts that will follow a historical price pattern and make a big rally after April 2024, the date of the next halving event when miners’ rewards will be halved.
What we have seen historically is that the 12 to 16 months after the halving are Bitcoin’s best performance. So everyone thinks about it. This time may be different because Bitcoin’s price is higher.
Now only 900 Bitcoins are issued per day, which is halved. That’s not a lot of Bitcoin. But it makes Bitcoin more scarce than gold. So for the first time in history you have an asset that is more scarce than gold.