RATE Group | Brian Kelly Says Historic Bitcoin (BTC) Catalyst Brewing, But the Cryptocurrency May Face a Significant Sell-off First
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Brian Kelly Says Historic Bitcoin (BTC) Catalyst Brewing, But the Cryptocurrency May Face a Significant Sell-off First

03 May Brian Kelly Says Historic Bitcoin (BTC) Catalyst Brewing, But the Cryptocurrency May Face a Significant Sell-off First

Posted at 23:31h in Cryptocurrency News by

CNBC contributor Brian Kelly says Bitcoin’s imminent halving is likely to once again trigger a significant rally for the top cryptocurrency.

On a new episode of Fast Money, the founder and chief executive of crypto investment firm BKCM says Bitcoin’s monetary supply stands in stark contrast to the widespread push to prop up the global economy by printing money.

“What people should know is, as the whole world is quantitative easing, Bitcoin’s about to be quantitative hardening. So the software is going to cut the daily supply. It doesn’t mean that the price of Bitcoin is being cut in half. It just means that the daily supply is being cut in half. You might want to think about it like oil, where all of a sudden [in] 11 days, half the oil rigs are turned off, and therefore that supply gets reduced. In the past, this has been a catalyst for very big run-ups.

We’ve had a tremendous run-up coming into this. It’s got some wood to chop around…

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