CNBC was the first news channel to broadcast extensive coverage of Wall Street. But with cryptocurrencies, his relationship does not work out. The fact is that CNBC is not able to give accurate predictions about bitcoin.
Tweet CNBC tweaks to channel analyst Brian Kelly. He runs BKCM, which “engages in global macro and foreign currency investments, including investments in digital currencies.”
Bullish tweet CNBC appeared in response to Kelly’s comments about the upcoming halving of Bitcoin:
– CNBC’s Fast Money (@CNBCFastMoney) May 1, 2020
“In the past, this event was a catalyst for large, very, very large climbs. In anticipation of this event, a strong surge has already occurred. Bitcoin tested the $ 9,000 mark. But I think that an asset has emerged that in the medium and long term will be more scarce than gold, given the ratio of reserves to growth in conditions when the whole world prints money. ”
In fact, most of the crypto community would welcome Kelly’s calculations. But when the corporate network tweeted about the upcoming halving, warning of a possible “big breakthrough”, a general sigh of disappointment could be heard all over Twitter.
You can’t argue with numbers
Jacob CanfieldA technology entrepreneur and stock trader, claims that CNBC forecasts are the perfect opposite indicator. Judging by his schedule, CNBC has not figured out what is happening on the cryptocurrency market. Then Canfield said:
“Almost every bull tweet we saw posted at the high of almost every rally, giving a strong sell signal. Each bear tweet is a clear indicator of a short turn and end of the rally …. On every bearish tweet, we usually earn an average of 30%. ”
In order for the CNBC indicator to work this time, a lot has to go wrong. After all, bullish catalysts are hard to ignore, including the upcoming halving and wider acceptance of cryptocurrencies.
Therefore, perhaps now halving, combined with the wider introduction of bitcoin, will change the CNBC twitter record. One can only hope.
Do you think this time the CNBC forecast will come true, or is it a bad sign? Share your opinion in the comments.
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Images courtesy of Shutterstock, Twitter.