Meh, I'd never trust anyone from mainstream media for cryptocurrency predictions, knowing that these guys from CNBC has a reputation of giving the worst advice in a given moment. Might as well stock up and buy whatever I can rather than dump my coins now. Usually when these guys post their own prediction and thoughts about the market, it always goes the opposite direction.
This might not be the best time to buy but still I'm buying, just because of the dude's reputation on predicting market movements (lol).
Topic: CNBC goes bearish on Bitcoin (Read 493 times)
Would anyone be surprised if the markets see just the slightest bit of bullishness all of a sudden and these mainstream media outlets start calling the next bull market? It's the same logic in the bear market.
All that I can see from this is that when they are bearish, it usually means that prices have already tumbled low enough that a recovery could be coming soon.
They always need sensationalist headlines and follow the market sentiment. Their analysis is honestly not even worth looking at. Bitcoin could tumble down further in the short term given that $6k support doesn't hold up, but given a year, I wouldn't be surprised if the next recovery starts.
All that I can see from this is that when they are bearish, it usually means that prices have already tumbled low enough that a recovery could be coming soon.
They always need sensationalist headlines and follow the market sentiment. Their analysis is honestly not even worth looking at. Bitcoin could tumble down further in the short term given that $6k support doesn't hold up, but given a year, I wouldn't be surprised if the next recovery starts.
Doing your personal analysis before investing into cryptocurrencies market is very important instead of depending on those FOMO and FUD created by cnbc. I think market do behave in the opposite of this guy predictions and speculators .
So if I am understand correctly this man from CNBC never said the correct predictions, so in a funny way, you can say that now is the best time to invest.
When the casuals start hating bitcoin is when things are looking good. This may be it.
We are still missing the most important signal.
We still need Kwuckduck tell that Bitcoin is heading to 0. Only then we can be sure the bullish trend has started.
The kwuckduck permabear indicator can be misleading. He will always tell you it's going down, so you can't really extract any value from his predictions, other than a laugh. My advice is to avoid the duck at all costs, as well as avoid the llamas
I think im going to start believing 6k is the bottom, it just keeps resisting, we should have break it by now. Perhaps we'll have a couple of months of sideways action before people's brain click and realize they are missing the god damn bottom for the most important asset ever.
I would say this is the biggest buy signal you can get.
CNBC over the years have always been known to go the opposite way of the market and the last place anyone would even want to seek trading advice from, then definitely a biggest buy signal indeed . I remember how they were preaching FOMO during the bulls, coming up with reasons for users to keep buying and joining FOMO. I have known over the years that as long as you want to stay safe, just follow trends and know how you want to deal with it, but listening to mainstream media and most especially the likes of CNBC is one thing I would not even advise my enemies to do.price has been sticking mostly to that bottom horizontal line and another somewhat horizontal line on top making it into more of an accumulation phase.
Yes, these sustaining prices are clearly indicating that. In my observation, when prices are calm and persisting within some range then it will jump toward the upper side. Until $6200 and $6700 is holding then we expect testing of $10k at any time, the next big psychological resistance levels. 
plus, it doesn't seem like a proper descending triangle to me since the bottom isn't horizontal. it's more like a wedge, given the lower low in june. the falling wedge is a bullish pattern.
we'll just have to wait and see which way it breaks.
we'll just have to wait and see which way it breaks.
I don't think the pattern looks like anything anymore!
we have already left the intersecting two lines (whether the tip of a wedge or a the tip of the descending triangle) and price has been sticking mostly to that bottom horizontal line and another somewhat horizontal line on top making it into more of an accumulation phase.
Well, now it will go up.
That simply shows the level of bullshit that the mainstream media dishes out to the community who wants to listen or view the bullshit they have to always say.CNBC has been a platform where I believe people should know by now that, doing the opposite of whatever comes from them is always going to be the best. In fact, probably, I might start using them as an indicator soon, which is to go bullish whenever they say bearish and go bearish whenever they are beginning to call unnecessary moon. I just some see some media outfit using their platform to either generate FUD or FOMO for their own gain.
I have to somewhat agree that the chart for Bitcoin seems bearish right now. I know that's not what we want to believe, but a descending triangle is a bearish signal. Charting is not an exact science and I am definitely no expert, but I have been following several supposed experts (not CNBC) and they are mostly saying that the chart is still showing to be bearish until it proves otherwise.
i hear that. descending triangles are considered bearish, but it's definitely not guaranteed to break down. per thomas bulkowski’s backtesting, they break down less than 2 out of 3 times:
Quote
Breakout: Can be in any direction but is downward 64% of the time.
plus, it doesn't seem like a proper descending triangle to me since the bottom isn't horizontal. it's more like a wedge, given the lower low in june. the falling wedge is a bullish pattern.
we'll just have to wait and see which way it breaks.
I don't think they are sounds bias at all as we all knows that Bitcoin price is really unpredictable that not all the times that their news are all in favor of Bitcoin because if they do they it will make them bias and unreliable therefore we should not accused them of being bearish as i always read of some of their news are supporting Bitcoin market.
I think CNBC goal is to get more viewership and not much else.
I highly doubt the people mentioned actually end up taking those trades live. They either are demo trading or trading with a very small account.
The reason why they talk about Bitcoin so much is because its very hot right now and people are bored of stocks. So they started including Bitcoin and other Cryptos in their programs just to get more viewership. Basically audiences of younger ages are now watching CNBC compared to just old dudes with big pensions like a few years back.
And their method seems to be working. Look how many followers their Twitter account has.
I highly doubt the people mentioned actually end up taking those trades live. They either are demo trading or trading with a very small account.
The reason why they talk about Bitcoin so much is because its very hot right now and people are bored of stocks. So they started including Bitcoin and other Cryptos in their programs just to get more viewership. Basically audiences of younger ages are now watching CNBC compared to just old dudes with big pensions like a few years back.
And their method seems to be working. Look how many followers their Twitter account has.
They tweeted this recently. The dude with glasses that's always on the Fast Money show, I don't know his name but you should know who im talking about... the guy that's always bullish, well turns out now he's being bearish and predicting lower prices.
The fact that CNBC is as mainstream as it gets and they are going bearish makes me thing that the capitulation final stages may finally be at play. When these guys tell you to FOMO is usually the opposite, now they are telling you to sell. When the casuals start hating bitcoin is when things are looking good. This may be it.
I have to somewhat agree that the chart for Bitcoin seems bearish right now. I know that's not what we want to believe, but a descending triangle is a bearish signal. Charting is not an exact science and I am definitely no expert, but I have been following several supposed experts (not CNBC) and they are mostly saying that the chart is still showing to be bearish until it proves otherwise.
At some point there has to be a breakout in one direction or the other. I think if the price drops, it will be a good time to buy more Bitcoin.
Lowstrife has been tracking the win/loss ratio of CNBC Futures Now contributors, including people like Brian Kelly and Tom Lee. They're sitting at a 45% win rate, so I wouldn't rely on their calls too much.
It's a pretty small sample, but it gives you some idea how much credibility you should give these forecasts. Take them with an extra large grain of salt.
It's a pretty small sample, but it gives you some idea how much credibility you should give these forecasts. Take them with an extra large grain of salt.
First mistake you made: watching mainstream financial news. It isn't news, it's noise. They make their money by continuous blabbing about money matters, and it doesn't even matter if what they're saying is true. They thrive on rumors, because they know people's ears prick up when they hear a bunch of bullshit that wasn't verified and couldn't possibly be true.
If you take anything these charlatans say seriously, you need to rethink how you're processing information. My advice is to stop watching these garbage news sources and look for ones that at least do some fact checking before they report on things.
A really terrible mistake indeed and not just some mainstream media news, news from CNBC. That is like the home of bullshit when it comes to news. As long as they will just keep spotting rubbish for their own favor, they will keep doing so and I wonder how they are still getting credibility with people still paying attention to whatever comes from them. If you take anything these charlatans say seriously, you need to rethink how you're processing information. My advice is to stop watching these garbage news sources and look for ones that at least do some fact checking before they report on things.
I guess it is obvious that as they have decided to go bearish, the market is already doing great with an attempt towards $7k or thereabout and anyone who has followed this shitty news, would have had themselves to blame.
We are forgetting that cnbc or bloomberg or any of the "media" doesn't really have to be against bitcoin.
Whenever they say something bad about bitcoin we go out and say they are favoring regular fiat currency and regular financial stuff like forex and stocks and derivatives but you are forgetting that they are media. Media gets paid from watchers, the more watchers they have the more money they make, also they get paid by companies to say stuff they want them.
Hence, if bitcoin one day gets big enough to make them watched more and get paid more than media companies like CNBC will be favoring bitcoin and praising it.
Whenever they say something bad about bitcoin we go out and say they are favoring regular fiat currency and regular financial stuff like forex and stocks and derivatives but you are forgetting that they are media. Media gets paid from watchers, the more watchers they have the more money they make, also they get paid by companies to say stuff they want them.
Hence, if bitcoin one day gets big enough to make them watched more and get paid more than media companies like CNBC will be favoring bitcoin and praising it.
I hope this is one of the good news that can trigger an increase in bitcoin prices and make the price of bitcoin back to a very expensive price.
They tweeted this recently. The dude with glasses that's always on the Fast Money show, I don't know his name but you should know who im talking about... the guy that's always bullish, well turns out now he's being bearish and predicting lower prices.
The fact that CNBC is as mainstream as it gets and they are going bearish makes me thing that the capitulation final stages may finally be at play. When these guys tell you to FOMO is usually the opposite, now they are telling you to sell. When the casuals start hating bitcoin is when things are looking good. This may be it.
Just like you said, when they tell you to FOMO, the best is to run and when they tell you to go bearish, it is better you start buying, I have always learned that going the opposite lane from the mainstream media always pay a lot at the end of the day.
If you take anything these charlatans say seriously, you need to rethink how you're processing information. My advice is to stop watching these garbage news sources and look for ones that at least do some fact checking before they report on things.
The trick here is to not take anything these mainstream bobos say seriously. In all cases, especially when it comes to CNBC, they have turned out to be perfect counter indicators. During certain events I short their bullishness, and long their bearishness. The easiest money making opportunities were the consensus event and especially the BAKKT announcement, which CNBC was extremely bullish on, not just somewhat bullish.
I remember them saying that when Asia would wake up (as if traders regardless of where they are located are ever sleeping) and they process the BAKKT news, the price would jump up significantly, and when Asia 'woke up' the price tanked hard.
In the end, all news outlets try to sell your garbage and rehashed information, it's their nature. It's up to everyone here themselves to go straight to the source to consume the most important developments in the world of crypto.
When the casuals start hating bitcoin is when things are looking good. This may be it.
We are still missing the most important signal.
We still need Kwuckduck tell that Bitcoin is heading to 0. Only then we can be sure the bullish trend has started.
If something should be learned in your life when talking about Bitcoin is the word "HODL". If you understand what this word means then you don't have to worry anymore
Quite relevant because at many times holding solves the problem and this is nothing new but still people behave the same way and many would just get panic reading this and start creating the sell order in the market and thus market may ball bit due to this.
If something should be learned in your life when talking about Bitcoin is the word "HODL". If you understand what this word means then you don't have to worry anymore
Quite relevant because at many times holding solves the problem and this is nothing new but still people behave the same way and many would just get panic reading this and start creating the sell order in the market and thus market may ball bit due to this.
i don't usually listen to the CNBC advice but now that you guys are giving input about what they do, i guess i might start watching their signals. i would assume the market is now gonna go up base on what they just tweet.
they would have to spread fud again to pull down the price, some may not find it funny but the hgue investors are going to be happy about the fudsters.
Well, now it will go up.
the thing about the current price is that you can't really predict it at all. for the time being it is only the short term traders that are controlling things while everyone else is staying out watching then go from $6k to $7k and back for example. predicting it is a fools errand.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
yeah, this is what i have also noticed and it is not just CNBC, it seems like it is a very popular approach. they don't predict/speculate anything! instead they just go with the flow...Actually, a "Mike Hearn FUD+ragequit selling" event would be great. That would be the type of event that rules out any doubt of the bear market ending or not. It's a very typical way in which markets bottom. Someone that has certain notoriety within the asset ragequits, the price dips hard, and then that's it, you can be pretty sure we bottomed.
I would love to see someone like Mike Novogratz dump and call Bitcoin dead. It doesn't need to be a developer, just someone with some sort following or known to hold a big position. The Winklevii would do tho. On the tech side, someone like Roger Ver, Cobra, some Core dev... I think that would do to kill all the noobs in one shoot so we can buy some cheap coins.
bitcoin and drama are inseparable. there is always something and the market is so excitable about all of that. this time i thought SEC will be the drama that happens but they keep disappointing us with postponing their decision instead of rejecting this ETF proposal.
since old tricks rarely work twice it is hard to say what will be the new drama this time.
First mistake you made: watching mainstream financial news. It isn't news, it's noise. They make their money by continuous blabbing about money matters, and it doesn't even matter if what they're saying is true. They thrive on rumors, because they know people's ears prick up when they hear a bunch of bullshit that wasn't verified and couldn't possibly be true.
If you take anything these charlatans say seriously, you need to rethink how you're processing information. My advice is to stop watching these garbage news sources and look for ones that at least do some fact checking before they report on things.
If you take anything these charlatans say seriously, you need to rethink how you're processing information. My advice is to stop watching these garbage news sources and look for ones that at least do some fact checking before they report on things.
the thing about the current price is that you can't really predict it at all. for the time being it is only the short term traders that are controlling things while everyone else is staying out watching then go from $6k to $7k and back for example. predicting it is a fools errand.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
yeah, this is what i have also noticed and it is not just CNBC, it seems like it is a very popular approach. they don't predict/speculate anything! instead they just go with the flow...Actually, a "Mike Hearn FUD+ragequit selling" event would be great. That would be the type of event that rules out any doubt of the bear market ending or not. It's a very typical way in which markets bottom. Someone that has certain notoriety within the asset ragequits, the price dips hard, and then that's it, you can be pretty sure we bottomed.
I would love to see someone like Mike Novogratz dump and call Bitcoin dead. It doesn't need to be a developer, just someone with some sort following or known to hold a big position. The Winklevii would do tho. On the tech side, someone like Roger Ver, Cobra, some Core dev... I think that would do to kill all the noobs in one shoot so we can buy some cheap coins.
So when they were all hot and heavy, they made all the memes for getting things wrong as the bull faded, just as they were getting the same flak for low sentiments when prices weren't running out of steam.
Seen CNBC on several meme charts already, guess this really is what it means to be on mainstream finance. Amazing that Sachs has been on the ball and dissed, while CNBC still gets all the traffic for being clueless sheep.
Maybe they know what they're doing after all.
Seen CNBC on several meme charts already, guess this really is what it means to be on mainstream finance. Amazing that Sachs has been on the ball and dissed, while CNBC still gets all the traffic for being clueless sheep.
Maybe they know what they're doing after all.
the thing about the current price is that you can't really predict it at all. for the time being it is only the short term traders that are controlling things while everyone else is staying out watching then go from $6k to $7k and back for example. predicting it is a fools errand.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
yeah, this is what i have also noticed and it is not just CNBC, it seems like it is a very popular approach. they don't predict/speculate anything! instead they just go with the flow...I don't see any significant movements in either direction for at least another month or more. I'd be surprised if we get any much higher than 8k by year end even if the best case scenario ensues. Similarly I'd be surprised at anything under 5500.
Going with the flow is generally the best approach but not from a short term point of view. That's where big losses are made, it needs to be following the flow of the entire market. For most of this year that was strongly bearish but now it just seems to be stability.
As far the CNBC, I wouldn't really trust their predictions all that much. It could be a positive sign because almost all crashes bottom out when the majority are starting to lose all hope and go to catastrophic levels of bearish thinking.
If something should be learned in your life when talking about Bitcoin is the word "HODL". If you understand what this word means then you don't have to worry anymore
The current market is perfectly suitable for HODL. But Bitcoin has a profitable platform in this bearish market so we should buy low and sell high is good for our active trading. If you really know the Bitcoin potential you don't say this word because Day traders also make good profit in Bitcoin investment so you should buy more this bearish trend we will never worried in future traffic.
I completely agree with this.
When mainstream media picks completely bullish on bitcoin, you pretty much know that the bull run is nearing its end. When mainstream media goes bearish on bitcoin, you know that market sentiments are truly bearish and that mainstream interest are dwindling, which signals undervalued coins.
Currently, we're really in an accumulation stage in my opinion where prices are extremely low, and even though it might go lower from this point, it's probably going to bottom out within the close vicinity of the current price level. And the fact that all the weak hands in the market is gone is a testament to that.
When mainstream media picks completely bullish on bitcoin, you pretty much know that the bull run is nearing its end. When mainstream media goes bearish on bitcoin, you know that market sentiments are truly bearish and that mainstream interest are dwindling, which signals undervalued coins.
Currently, we're really in an accumulation stage in my opinion where prices are extremely low, and even though it might go lower from this point, it's probably going to bottom out within the close vicinity of the current price level. And the fact that all the weak hands in the market is gone is a testament to that.
If something should be learned in your life when talking about Bitcoin is the word "HODL". If you understand what this word means then you don't have to worry anymore
This is the CNBC approach.(FUD as f*ck)
Bitcoin price goes down by 5%-Sell you idiots,sell!!!Bitcoin is DEAD.Bitcoin is IN HELL!!! SELL!!!
Bitcoin price goes up by 10%-Oh,bitcoin price goes up,this is temporary for sure,Nothing interesting here....
This isn't analysis or prediction,it's a comedy...
Bitcoin price goes down by 5%-Sell you idiots,sell!!!Bitcoin is DEAD.Bitcoin is IN HELL!!! SELL!!!
Bitcoin price goes up by 10%-Oh,bitcoin price goes up,this is temporary for sure,Nothing interesting here....
This isn't analysis or prediction,it's a comedy...
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
I haven't followed CNBC but from what I read they're simply as flexible as the market. Just like you said if the price goes down, they will go bearish and when the price spikes they are shouting that bull run has started. LOL. Could be a buy signal or not, hard to say.
@Jon Connor - I would agree that there's a eerie similarity of the market situations back in 2013-2014. The only positive vibes we can get is to teach us a lesson this 2018. And then the coming months will really be decisive specially how will things turn out for long or short terms.
the thing about the current price is that you can't really predict it at all. for the time being it is only the short term traders that are controlling things while everyone else is staying out watching then go from $6k to $7k and back for example. predicting it is a fools errand.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
the future trend in my opinion will be a stable price like this with slow rise which will take a long time. this can only change if a big FUD comes out like 2015's Mike Hearn leaving and calling bitcoin dead to crash it below $300 again. otherwise there is no reason for any drop or rise to break any kind of support or resistances.
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
yeah, this is what i have also noticed and it is not just CNBC, it seems like it is a very popular approach. they don't predict/speculate anything! instead they just go with the flow...
I would have to agree that doing the opposite of what CNBC says probably would have paid off handsomely this year. However, I feel that the bitcoin market is eerily similar to the bitcoin market of 2014 which doesn't give me a good feeling going into next year. If it does play out that this bear market will last until next year that means its time to accumulate bitcoin at an awesome discount because the next bull market we are going over 100k. But past performance does not guarantee future results and I could be totally wrong. I hope im wrong. except the 100k part 
I would say this is the biggest buy signal you can get.
CNBC has a history of not really giving the best advice at the best time
Although I do appreciate how much coverage they have given the industry over the last year I will say that their Crypto "Baller" Brian Kelly is pretty biased and they seem to have some kind of connection to bitcoin cash as well.
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
I do agree with you that capitulation is probably for the most part over with, with them posting this they are probably looking at the short term. It really would not surprise me to go sideways for months on end in a tight range if we don't get any significant news.
Although I do appreciate how much coverage they have given the industry over the last year I will say that their Crypto "Baller" Brian Kelly is pretty biased and they seem to have some kind of connection to bitcoin cash as well.
They just add fuel to the fire whichever way the market is going, if the market is down then it's "Bitcoin's Month from Hell!" or "Is Bitcoin Dead?".
I do agree with you that capitulation is probably for the most part over with, with them posting this they are probably looking at the short term. It really would not surprise me to go sideways for months on end in a tight range if we don't get any significant news.
They tweeted this recently. The dude with glasses that's always on the Fast Money show, I don't know his name but you should know who im talking about... the guy that's always bullish, well turns out now he's being bearish and predicting lower prices.
The fact that CNBC is as mainstream as it gets and they are going bearish makes me thing that the capitulation final stages may finally be at play. When these guys tell you to FOMO is usually the opposite, now they are telling you to sell. When the casuals start hating bitcoin is when things are looking good. This may be it.
Jump to: