en
Back to the list

CNBC: "Sell the house...sell the kids...buy Litecoin (LTC)"

source-logo  chepicap.com  + 6 more 29 May 2019 11:50, UTC

The hosts of CNBC's Fast Money have given their opinions on the latest crypto rally. A number of reasons were given to explain the BTC price action, and the gains seen by Ethereum (ETH) and Litecoin (LTC) were also mentioned.

The panel mentioned the recent Consensus event in NYC as a possible influence on the recent BTC rally, with renewed enthusiasm for crypto driving prices up. They also claimed that the BTC pump may be linked to some of the same factors that are behind gold stocks rising and USD/CNY performance, as investors look for safer havens.

Will #Bitcoin sizzle or fizzle this summer after racing 130% higher so far this year? Our traders discuss. pic.twitter.com/LYEDSKfVJd

— CNBC's Fast Money (@CNBCFastMoney) May 28, 2019

According to the team, if a trader looked at the BTC charts without any preconceptions about the asset itself, it would be a definite buy: "broken through key resistances, it goes higher". They also mentioned the performance of ETH and LTC, with 220% and 400% gains for 2019, respectively: "sell the house, sell the car, sell the kids, buy Litecoin".

In the past, CNBC's predictions have been seen as a perfect contra-indicator to the crypto market price action, with BTC rallying when they call it dead, and vice versa. It remains to be seen whether their bullishness will cut the rally short, just as $10k is coming into view.

Do opposite to what CNBC says. We are heading 4a big drop soon...

— navi the ⚡️SHEN (@chefnavi) May 28, 2019
chepicap.com

Similar news (6)
Add similar news