• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin News / ‘Bitcoin will See a Boom, Just Not Tomorrow’, Says CNBC’s Brian Kelly
'Bitcoin will See a Boom, Just Not Tomorrow', Says CNBC's Brian Kelly

‘Bitcoin will See a Boom, Just Not Tomorrow’, Says CNBC’s Brian Kelly

January 17, 2020 by Ketaki Dixit

January 2020 has become an active month for the cryptocurrency market after several popular coins saw major hikes in value. In this increasingly bullish atmosphere, Bitcoin has remained steady in its quest to reach new price highs.

The popular financial analyst Brian Kelly claimed that Bitcoin had gone a bit bananas this year after resurgent comebacks from bearish territories, The world’s largest cryptocurrency rose by 22 percent this year. This growth has come in the span of 15 days, with many claiming that the bear run was upon us.

Brian Kelly’s comments were, however, a complete one-eighty from the popular market sentiment. In his words:

“If you look at the Bitcoin’s price movement right now, you cannot really call it a comeback. Even though the current price point has not been since last September, Bitcoin has still not broken any long-held record.  Bitcoin was the best performing asset last year, peaking with an 80 percent growth.”

According to Kelly, the current trajectory was just reminiscent of the cryptocurrency’s 2019 performance. The only thing that users need to notice is the address growth metric, which speaks volumes about the market’s actual condition, said Kelly.

The CNBC official stood firm on the fact that a lot of people do not pay attention to the fundamental pieces of the Bitcoin prize puzzle. He stated that mispricing the Bitcoin address growth was one of the few reasons why people lost money in Bitcoin trades.

If the address growth of Bitcoin is more than its price, it usually means that it is a buy signal. At the time of writing, Bitcoin’s price was more than the address growth which was usually indicated that people need to HODL their assets. Brian Kelly claimed that there will be a huge upside for Bitcoin, but the turn will not occur “tomorrow”.

Conclusion

Kelly may have been right about Bitcoin’s price dynamic because, for the first time in a week, the hourly and daily growth blinked red. Bitcoin was trading for $8625 with a total market cap of $156.67 billion. After a 24-hour fall of 1.32 percent, the 24-hour market volume had fallen slightly to $34.67 billion.

Filed Under: Bitcoin News Tagged With: Bitcoin (BTC), bitcoin price

Primary Sidebar

Recent Posts

  • Bitcoin Boom: $117M Influx Brings Investors Back To Digital Asset Market January 31, 2023
  • Bitcoin Best Month: 43% YTD Price Increase Amid Short Squeezes January 31, 2023
  • Binance And Mastercard Join Forces To Launch Crypto Card In Brazil January 31, 2023
  • XRP: Web3 Domain Provider Unstoppable Domain Adds Support For XRP Toolkit January 31, 2023
  • BudBlockz (BLUNT) Is Luring Away Solana (SOL) Investors January 31, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.