Since breaking the $8k barrier on May 14, Bitcoin has remained in this range for over a week. A short-lived correction sent it barreling back to $7k but a recovery came less than two days later after a certain high profile news outlet predicted a bigger dump.<\/p>\n
CNBC\u2019s Fast Money<\/a> is a well-known counter trade indicator for Bitcoin. Whatever it predicts you can almost guarantee the opposite will happen \u2013 this has occurred countless times since the mainstream outlet started covering crypto.<\/p>\n In its most recent show Fast Money said Bitcoin was stuck at $8,000. The interviewer asked Brian Kelly where he thought it would go next. His first comments were on the increased interest from institutional investors interested in offerings from Fidelity, while retail traders can now get in on the action via TD Ameritrade. He then went on to comment on the BTC halving which will happen in May next year;<\/p>\n \u201cThe big picture here is that we are starting to enter a cycle where you get a supply cut. Every four years the supply of Bitcoin gets cut in half and you generally have a rally the year into it and the year out of it.\u201d<\/p><\/blockquote>\n He added that we are entering this phase which is generally very bullish. Citing supply and demand, Kelly said the price would go higher but did not specify a figure or time-frame for this. In previous instances a bullish call by CNBC would be viewed as a sure sign of an impending dump.<\/p>\n After a more than 50% rally in the last month, Bitcoin is stuck at $8,000. Here's what @BKBrianKelly<\/a> says could drive it higher. pic.twitter.com\/Smxy7v2Pgw<\/a><\/p>\n — CNBC's Fast Money (@CNBCFastMoney) May 21, 2019<\/a><\/p><\/blockquote>\n\n