According to research from prominent cryptocurrency trader Jacob Canfield, who plotted out his results versus a BTC rate chart on the well-liked charting site TradingView, CNBC’s tweets can be made use of as a contrarian Bitcoin rate indicator with as much as 95% accuracy.
CNBC: A Contrarian Indicator with 95% Precision
Canfield promises that virtually “every single bullish tweet” has been at or near the prime of virtually every single BTC rally in 2018. In the meantime, each individual bearish tweet has represented a reversal of a former downtrend.
In the past 7 days on your own, Candield suggests, CNBC has made 3 bearish tweets, perhaps indicating that bitcoin has arrived at a base.
Canfield, who operates a day-to-day crypto investing signal site, suggests that CNBC by themselves have arrived at out to the trader to perhaps be a guest on just one of their reveals.
CNBC has been extensive been observed as a contrarian indicator following famously reporting on how to invest in Ripple following the cryptocurrency arrived at an all-time substantial of $3, only to then report on how to promote the #3 cryptocurrency by industry cap following a huge promote off to beneath $1 experienced occurred, at the time signaling the then-base for XRP.
Thinking about the accuracy of Canfield’s research and the consistency at which CNBC appears to make contrarian calls, let’s hope that CNBC decides that bitcoin is a bust in their future documentary, which could signal the remaining rally that ends the 2018 bear industry.
Bitcoin: Boom or Bust?
As Bitcoin, the top cryptocurrency by industry cap and the cryptocurrency that begun it all, reaches a pivotal minute in its existence, big American media manufacturer CNBC will air a unique 60-moment documentary this coming Monday evening, August 27.
On Monday, August 27, at 6PM ET, CNBC will air a new documentary targeted on bitcoin. The documentary, entitled “Bitcoin: Boom or Bust” and hosted by CNBC Fast Dollars host Melissa Lee, will be a deep dive into the authentic peer-to-peer electronic income developed by the mysterious Satoshi Nakamoto.
According to a push release, the documentary will explore the “good, lousy, and the ugly” sides of bitcoin. Subjects consist of crypto evangelists, how bitcoin is made use of by escorts in the sex trade business, billionaire venture capitalists, crypto revolution anarchists, and much more.
“This authentic documentary employs pop society, fascinating imagery and a hip-hop score (a staple in crypto-society) as it follows a extensive assortment of fascinating people, each individual with their possess passionate argument either for or versus bitcoin.”
CNBC strategies to show both sides of the “coin,” together with commentary from bears and bulls alike. This contains what CNBC calls a “riveting and vibrant interview” with The Wolf of Wall Street, Jordan Belfort, who compares bitcoin to the ripoffs he ran through his con man days, as well as a “chilling tour” via the darkish net to allow viewers see the frequently unseen legal underworld linked with cryptocurrency.