The CNBC analyst believes that the price of Bitcoin may experience a 50% drop from current levels. Kelly says it is unlikely that Bitcoin will fall below $10,000.
CNBC analyst Brian Kelly believes there is a possibility of a 70% drop from Bitcoin’s all-time high (ATH). On CNBC’s Fast Money program, Brian Kelly expressed his thoughts on the future of Bitcoin’s price. According to Kelly, the flagship of the cryptocurrency market is at risk of a 50% drop from current levels.
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Future analysis of cryptocurrency market by CNBC analyst
At the time of writing, Bitcoin is trading at $19,200. The CNBC analyst believes that Bitcoin will reach its price floor after reaching the price of $10,000. Brian predicts this will take several months. In this regard, he said:
Most likely, there are months left until Bitcoin reaches its price floor. In the next few months, a big person will go bankrupt when you least expect it.
According to Brian Kelly, the fall of Bitcoin will occur due to the wrong policies of central banks. The catalyst for the market decline will be rising inflationary expectations. All central banks in the world are making political mistakes. The price floor of Bitcoin will most likely be between 10,000 and 15,000 dollars.
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Source: dailyhodl