Fri, 08/23/2019 - 06:57

Bitcoin Price Hovering Above $10,000 with Altcoins Flashing Light-Green

BKCM CEO Brian Kelly now claims that he’s short-term bearish as the BTC price is failing to make an upward move

Cover image via www.123rf.com

Despite a one percent uptick, the Bitcoin price is still in serious danger of suffering a major correction. The BTC price is sitting precariously at $10,122 with major technical indicators, such as the weekly RSI, pointing to another breakdown.

Image by coin360

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Bitcoin bull Brian Kelly recently voiced a bearish prediction, claiming that the BTC price got ahead of its fundamentals.

In the short-term, I am a little bit cautious,” Kelly told CNBC’s Squawk Box.

#Bitcoin is back above $10k, but @BKBrianKelly is feeling a little bearish. Here's why. pic.twitter.com/J5uf9ahq1x
— CNBC's Fast Money (@CNBCFastMoney) August 22, 2019

With that being said, altcoins are in a slightly better situation with Ethereum (ETH), Ripple’s XRP, and Bitcoin Cash (BCH) registering minor green updates.

However, if Bitcoin stumbles, these cryptocurrencies will inevitably fall as well.

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.