Cryptocurrency investor Brian Kelly stated that following the rise of Bitcoin, altcoins may also start to increase next month.
Speaking on CNBC’s Fast Money program, the CEO of digital asset company BKCM said that, looking at historical price models, some altcoins should start to recover in January.
“What we generally see in bull markets is that altcoins start to rise about a month after Bitcoin rises.”
Kelly stated that the cryptocurrency markets have been facing pressure due to macroeconomic conditions for about two years, but the situation has been reversed.
“I think this is a macro headwind. We have been struggling with macro headwinds such as rising rates and a strengthening dollar for almost two years. (…) When I look at global liquidity, I think gold and Bitcoin will do a good job.”
Finally, the investor emphasized that he believes that the leading cryptocurrency will have a big rise after the BTC halving in April 2024.
At the time of writing, Bitcoin is trading at $43,888, according to Bitstamp data.
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