Keith McCullough,s the CEO of Hedgeye, said that today’s cryptocurrency market decided to sell all the Bitcoins it owns. The decision came from his analysis of how the market is in a slowdown period.
On October 6, the CEO of Hedgeye, a risk management firm, made a post on Twitter in which he affirmed his sale.
Some days later, McCullough followed his Tweet, where he stated that he defended his decision on the sale since, according to his analysis, Bitcoin has to exceed its average sale price. For this, Bitcoin would have to exceed $ 11K
RelatedPosts
Cryptocurrency mining in Africa: pain or gain
He also explained what he did in a post on Hedgeye’s official website. Here he affirms that he did not make his decision personally but wanted to maximize return on invested capital. McCullough hinted that there is a growing probability for the fourth quarter of # Quad4. Keith McCullough thinks there is a slowdown in inflation and monetary growth.
The CEO predicts in other statements that a strengthening dollar this week could reverse Bitcoin’s value. Notably, Bitcoin over this weekend rose to $ 11,300.
Keith McCullough surprised the world with this news
His 190 thousand followers received the shocking news on Twitter. Hedgeye Risk Management offers its clients the best tool for risk management.
Hedgeye gives advisory services for companies with more than $ one trillion in assets. This corporation offers financial advice and content on its YouTube channel “Hedgeye TV.” Keith McCullough offers economic advice on this channel, among other things, to his 42K followers.
In a Youtube video, the CEO said that Bitcoin looked bullish. He also said that it was inversely correlated, at a growing rate, with the US dollar index.
Keith McCullough formally talked about Bitcoin in December 2017. In that year, Bitcoin touched $ 20K. Since then, McCullough has talked about the currency.
