Panelists at CNBC say that Bitcoin price could be due for a pullback despite climbing more than 120 percent since the start of the year.
Third Time’s the Charm for Bitcoin?
After months of muted conversation around Bitcoin, CNBC analysts are now back in the saddle again, with cautiously bearish sentiments about BTC 00 as the cryptocurrency continues to enjoy a positive trajectory in 2019.
Bitcoin is booming as Consensus week is underway, but can the crypto rise above key resistance? @SeemaCNBC, @Bob_Iaccino, and @AnthonyGriz weigh in. $BTC pic.twitter.com/cH6pjmEQyP
— CNBC Futures Now (@CNBCFuturesNow) May 15, 2019
Since breaking above $8,000 Monday (May 13, 2019), the top-ranked cryptocurrency has seen two unsuccessful attempts at staying above $8,100. Anthony Grisanti of GRZ Energy told CNBC on Wednesday technicals are signaling a pullback at that level.
According to Grisanti:
We had rallied above [key resistance] but then failed on two different occasions. [Bitcoin] has doubled in the last five months so I would…