Topic: CNBC Analyst Predicts Bitcoin Price Is ‘About To Explode,’ Citing ETF Buzz (Read 323 times)

We are already aware of the etf buzz, we are creating the freaking etf buzz, the trouble is we already know the etf will not be accepted, no etf in the near future will be accepted. Eventually crypto will get big enough that not accepting the etf would be a stupid option so they will agree to it however right now while we are in a stagnant market that followed a bear market before that ? Highly unlikely.

I am not saying the price will go low or anything, I think the price hit the bottom however I doubt it will skyrocket right after a etf acceptance anytime soon. It will get rejected again and the price will stay around the same.

LOL ETF hype is alive for all the time I am monitoring crypto. From 2014. I dont believe it will ever go away. Even once first ETF happens there will be hype about next better one.

I thought everyone had already moved on from this ETF stuff. I'd stopped hearing about it completely before seeing this thread.

I think the market's already priced in a rejection anyway; there's no rumor to buy and the ETF hype is dead after all the rejections and delays. We're still waiting until February now, right?

As far as what it would do for price......it's a good reason for a pump but that's all. The existence of an ETF doesn't fundamentally create new demand. The question is whether investors are really waiting for an ETF to invest in BTC. That sounds a bit farfetched.

Probably a sign that most of them don't really understand what it does and stands for in its entirety, and honestly speaking, I don't know it either. I can't be bothered by all these "big" events with how the market doesn't give a shit about anything that's even remotely positive during a bear market. Seriously, we have had so much fundamentally and non fundamentally good news, and yet none of it even bumped the price a dollar or two.

Last year the CBOE & CME futures were the drivers of the bull run, and the recent 'announcement' of Ethereum futures hasn't done one single shit with its price. Another sign that news heavily depends on the market sentiment in order to affect the price.

There can't be a parabolic rise every single year. This year needed to be bearish due to 2017s insane price upswing. Don't be frustrated because this year isn't looking too bullish. If anything, a bearish year is good, as that gives you time to accumulate. A bearish year with Bitcoin is usually followed by a bullish year, so if we don't see any bullish action by the end of the year, that just means 2019 will likely be that much more bullish. The time to buy is when people are thinking of selling.

And you are wise to be bullish. There were many bear markets since the beginning of Bitcoin and the same pattern repeats every time. There's a bull run that ends with a new all time high and a bear market that follows, which always ends above the point from which the previous run launched. This means that we are in a continuing long term uptrend that lasted 8 years. Even if we went down to 3000 USD it would still be a confirmation of this pattern that in less than 2 years will take us to a new high. I can wait

it seems like a price increase like last year is impossible to repeat again this year, yesterday the price of bitcoin dropped very far and that made many investors increasingly frustrated. this makes the price of bitcoin very difficult to rise.

As far as I can tell doing the exact opposite of CNBC has been the only near dead cert in recent history. Some day that'll change but coming out with stuff like this says to me it won't.

https://www.tradingview.com/chart/BTCUSD/bwSjuQIC-CNBC-Bitcoin-Indicator-Gives-An-Insane-95-Accuracy-For-Bitcoin/

I see nothing on the horizon that makes the likelihood of ETFs any higher than it has been in the past, which is not very high at all.

Weird that very few 'experts' have had a go at predicting what Bakkt will do. It could be huge, it could be nothing. It would be fun to see some guesses.

this is all very funny, well let's go back in the past, we are going back to February this year. He said this in February this year:

CNBC’s Ran Neuner Says Bitcoin Will End 2018 At $50,000


Congratulations on having bought bitcoin for your parents, but this: "  It’s too obvious that it’s about to explode "

I do not agree, there are many chances that the SEC will reject and the price will drop a lot

How do you mean?
I don’t see an overly bullish sentiment around the forum, not from anybody who knows what they’re talking about & has been here for a while.

I’d love to see an ETF gain approval but I just can’t see it being a possibility for at least a couple of years.

I’m a long term HODLER & I’d love to see an ETF approval as we’d moon due to it but it’s not happening yet imo.

that the important part of it though! ETF has always been 90% hype and whether it is approved or rejected will not  change a thing for bitcoin and its price apart from its hype and fear factor. these "institutional investors" that everyone keep hyping about with ETF are not even going to come in "bitcoin market" since with ETF whey are not buying bitcoin but they are buying ETF!
and since now everyone is tired of the same meaningless hype and most of them know better to think it is more than a hype, the effects of this type of news is vanishing.

That could very well be.  I have a feeling that there are a lot of people with very deep pockets who don't want to own on a computer/phone, in a wallet--the way most of us do.  They would be more comfortable buying something like an ETF that's listed on a stock exchange, which would make their investment much easier to sell.  That makes sense to me. 

And yeah, I'm tired of hearing about the ETF too.  I wish they'd either piss or get off the pot, but I'm hoping it actually does get approved.  My guess is that it would have a positive effect on price, but I wouldn't bet my house on it.

As far as this guy's prediction goes, it was made a couple days ago, and in that time bitcoin has dropped something like $300.  Sure, long-term bitcoin could "explode", but in the short-term it could fall even farther.  And it's obvious that his prediction didn't convince anyone to buy, at least not in huge numbers. 

You have to be careful when you read prognostications like this.  There were analysts back in the late 90s predicting AOL was going to the moon, and they provided all sorts of reasons that you might think made sense, but the bottom line is that no one knows what the price of anything is going to be at any time in the future.  That's especially true for something like bitcoin, which defies traditional analysis anyway.

LOL, he timed his predictions right.

Nothing will happen this year. There is just not enough steam for any trigger would release it. It is simple as that.

Yes, whales can easily read emotions on the chart and looking at the way everyone has been going around talking about some bullish movement when the market is still trying to find a direction is absurd and that can make it easy for the market to even get manipulated the more based on speculations of some sort. I really do not see anything exploding at the moment until it actually explodes, and in this vein, the market could even decide explode downwards.

As far as I am concerned, this is still a very bearish market and until we actually see a clear signal upward, nothing has changed. But everything will change in minutes if any rock solid positive news arrives hence being prepared by making use of available lower prices must be the wise decision, an average Joe like myself could do .

i don't count as well but i'm always BULLISH as f*** ,long term perspective of BTC is just as solid as a rock, its just so good in so many ways.
I'm also a long time hodler and bear or bull market, i do not deviate from the big picture and the LONG term succes ahead for BTC.

I actually think the fact that a lot of people are actually becoming bullish because of the end of the year would even make it so easy for the whales to feed on so many flesh in coming days as their emotions and expectations gets tampered with.

Well, one thing for sure right now is that whatever the likes of CNBC wants to say, I just see it as an attempt for some whales to make some gullible people think that this market is ready for an uptrend, but right now, what we are just seeing is the opposite. Even if anyone should be expecting anything bullish at the moment, it should not even be because of ETF or anything, because there is nothing to be bullish on.

Yeah, aside from the usual permabulls, sentiment has been pretty negative. If anything, the bulls have become more reserved. That's one of the reasons I've gotten more and more open to the bull case.

It's all up in the air until the range is broken. I won't be convinced until we at least break the upper bound of the triangle. Looking to hold the $7,500 area as confirmation.

it seems like a lot of people are getting too desperate to make profit these days since bitcoin has become stable and their day trading days of buying at $6000-$6200 and selling at $6900-$7200 is over

as for ETF and SEC, that news is overused in my opinion and because of that it has lost all its effectiveness. obviously nobody is caring about the rejections anymore and in my opinion at this point an approval is not going to do much either. although it would be a good news and might lead to some small rises but i don't think it can be a major thing anymore.... the hype is dead...

Who is bullish? Tom Lee does not count.

The most bearish thing about the current market is how bullish everyone has become.