Crypto Investor Brian Kelly Predicts Altcoin Surge in January
Crypto investor Brian Kelly believes that several altcoins could experience a surge in January, following the massive rally of Bitcoin. In an interview on CNBC’s Fast Money, Kelly, the founder and CEO of digital asset investment firm BKCM, points out a historical price pattern where altcoins start rallying about a month after Bitcoin’s movement.
Kelly attributes the current upward momentum in the crypto market to changing macroeconomic conditions. He suggests that for the past two years, these conditions have exerted downward pressure on the market. However, with rising interest rates, a stronger dollar, and other economic challenges facing regions like Europe and China, investors are finding risk assets like Bitcoin more attractive.
Looking ahead, Kelly predicts that Bitcoin will follow its historical price pattern and embark on a massive rally after the next halving event in April 2024. This event will cut miners’ rewards in half and make Bitcoin scarcer than gold for the first time in history.
Bitcoin Price Update
At the time of writing, Bitcoin is trading at $43,762, showing a 4.9% increase in the last 24 hours.
Hot Take: Altcoins Poised for Breakouts in January
Crypto investor Brian Kelly anticipates that January will be the month when altcoins experience significant rallies. He bases this prediction on a historical pattern where altcoins tend to surge approximately a month after Bitcoin’s movement. Additionally, Kelly believes that changing macroeconomic conditions are making risk assets like Bitcoin more appealing to investors. Looking further ahead, he expects Bitcoin to undergo a massive rally after the next halving event in April 2024. This event will reduce miners’ rewards and make Bitcoin scarcer than gold. Overall, Kelly’s outlook suggests potential opportunities for altcoin investors in the coming months.
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