Here is why you shouldn't trade bitcoin based on the CNBC Bitcoin News

shoreno

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When you trade bitcoin, you should not pay attention to news from any sources at all. Nothing can affect bitcoin except large investors, this is my opinion

there are traders that wanted to foccus on thier own thing so they decided to not follow the news or any speculation that sorrounds them just to avoid distraction . while the other kind of traders are verry careful , they always scout for helpful resources before they make a move .

small investors can also affect the flow of bitcoin especially if many small traders are also doing the same thing .

efxtrader

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Quote from: Diirtmaan on September 08, 2019, 07:06:12 PM

Very often, news creates FUD and such speculation negatively affects the market due to people's trust. You need to learn how to filter the news and not make mistakes because of some media statements.

I still remember when CNBC said it was best to buy XRP when the price was at $ 3 and ended with a loss to investors who followed CNBC's advice. I agree we must filter the analysis from other parties and it is better to use the analysis of the other party as a second opinion and not make it as a main reference

eaLiTy

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Quote from: pixie85 on September 08, 2019, 02:23:31 PM

You should take them with a grain of salt but not be too skeptic. If the news said that you should take cover because there's a big storm coming would you believe them or not? I always read the news and watch what I can on youtube but try to get some feedback from different sources before acting on it.

If you are predicting something you cannot call that a news, it is mere speculation and i have not seen anyone in any financial market who could predict the market exactly, even the best trader will have an idea on how the market will perform but not the exact valuation on when and how the market will drop or rise, if a news channel is coming up with speculation and prediction, just take it like that and do not take this as a word of god Wink

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Diirtmaan

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Very often, news creates FUD and such speculation negatively affects the market due to people's trust. You need to learn how to filter the news and not make mistakes because of some media statements.

pixie85

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Quote from: nh0xxpr01 on August 24, 2019, 03:49:44 PM

I don't believe in any media news..

You should take them with a grain of salt but not be too skeptic. If the news said that you should take cover because there's a big storm coming would you believe them or not? I always read the news and watch what I can on youtube but try to get some feedback from different sources before acting on it.

You did a great job of getting all these facts together OP. CNBC was a joke in 2018 when their every price prediction was a failure and they are still a joke. Maybe whales are trolling them? Cheesy

7788bitcoin

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Quote from: SuperTA on August 19, 2019, 06:50:23 AM

True, but many newcomers are not aware of that. That's why i try to warn them.
You wouldn't believe how many posts i see about trading related to some news.

I really appreciate your thread after some research to inform newbies trying to follow any speculative news to invest in it and then end up in a loss as they probably will panic when they see the market going down and they would sell off without thinking twice. I am in this market for a very long time and i never listen to any speculative medias, i have my decision on what to do with the market and all of my plans are long term and not for the short term.

SuperTA

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What happened? Why they stopped with their CNBC Bitcoin Predictions on twitter? Cheesy

jostorres

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Quote from: pooya87 on August 23, 2019, 11:16:48 PM

news agencies are always reporting what people want to hear not what the reality is. specially when it comes to speculation they go with the flow. for example when price is rising they talk about how it is going higher and vice versa when it is dropping.
in a way you could say that their reports may look like predicting the future but in fact it is only reporting the history. so when they say "you should sell bitcoin, it will drop lower" they are really saying "bitcoin has already dropped, and you should have sold already".

The best to do to avoid these doubts is just to do personal investigation of that news before we consider taking action on it, you know that we cannot know the intention of the writer of that news or the intention of the publisher, and we are only basing everything we said here in assumption.

There might been bad, wrong and incredible news that has been released by these sites, but at least, they will still have some news that have the real picture of the situations of things in them, which is why I usually makes sure that I do my own personally analysis first, I try to use both technical and fundamentals analysis tools that is available to me to confirm whatever news that I see spreading over those sites, then I will be able to pick the ones I can work with through that.

Kakmakr

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We all know news platforms like CNBC News are used to manipulate the price and to shill for their Fiat masters. I have stopped listening to all the nonsense that these news media platforms are pushing out to the public, because 90% of this is fabricated or infused with FUD. Roll Eyes

You will also see breaking news on one platform and then 10 different opinion pieces based on that news, without any substantial difference of what was said in the original article. Angry

nh0xxpr01

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I don't believe in any media news..

Artemis3

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Quote from: figmentofmyass on August 23, 2019, 07:35:34 PM

Quote from: Parodium on August 20, 2019, 11:48:57 AM

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

Looks like CNBC hasn't always been so bad at predicting the price of BTC. Maybe they changed analysts lol.

on the contrary, that strategy is based on using CNBC as a contraindicator. whenever CNBC is bullish, you sell, and vice versa. the tradingview results show it performed pretty well in 2018, and the OP's data shows that it's still working in 2019.

if your TA agrees with CNBC, get ready to be stop lossed/margin called. Grin

I'd advise against using any news media sources as indicator (in either direction), as they might be just random throwing dice, with higher chances of missing (reflected in the aforementioned), but randomly hitting it so you would end losing...

atjiat

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It seems to me that owning a cryptocurrency still carries a huge risk due to the fact that most cryptocurrency users are subject to information manipulation. Nobody wants to take risks and for any reason can sell or buy coins at their discretion. The same situation may be with Bitcoin, because some predict a great future for him, but as soon as someone makes a bad statement, the price will immediately fall due to the fact that there will be massive sales of Bitcoin.

jhonjhon

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Quote from: mazdafunsun on August 19, 2019, 07:08:20 AM

Crypto market is not reacting to news as it used to in the times of the big bubble.
Todays news also is 99% twisted and fake, they are written only to get clicks and sell their ads, this is business and has nothing to do with price.
There should be no thoughts about trading on the news.

That is right, that is why don’t base you trading decisions based on news because they might lead you to the wrong direction such as this one. Study the market trend using some other factors and stick with it because news nowadays are not as trustworthy as it is in the past because now it’s money that is dictating what news to air and they don’t really care whether it is fake or not.

pooya87

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news agencies are always reporting what people want to hear not what the reality is. specially when it comes to speculation they go with the flow. for example when price is rising they talk about how it is going higher and vice versa when it is dropping.
in a way you could say that their reports may look like predicting the future but in fact it is only reporting the history. so when they say "you should sell bitcoin, it will drop lower" they are really saying "bitcoin has already dropped, and you should have sold already".

figmentofmyass

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Quote from: Parodium on August 20, 2019, 11:48:57 AM

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

Looks like CNBC hasn't always been so bad at predicting the price of BTC. Maybe they changed analysts lol.

on the contrary, that strategy is based on using CNBC as a contraindicator. whenever CNBC is bullish, you sell, and vice versa. the tradingview results show it performed pretty well in 2018, and the OP's data shows that it's still working in 2019.

if your TA agrees with CNBC, get ready to be stop lossed/margin called. Grin

xamxam

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I don't care about their news and besides, not all news are true and price. Because to all bitcoin fanatic and enthusiast, they know that bitcoin has a better future and has a lot of full of potentials in terms of its usages features. In fact, there are lot of investors still embracing and supporting bitcoin up to now and investing unto it also, which means it is still good investment form of assets.

SuperTA

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Parodium

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DMs have been disabled. I am busy.

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

Looks like CNBC hasn't always been so bad at predicting the price of BTC. Maybe they changed analysts lol.

LogitechMouse

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tl;dr

I don't base tradings on the news because those medias that are spreading different news regarding crypto are those who doesn't have or a little knowledge only on crypto. They don't know anything about Bitcoin. They are just predicting the price and will put some stupid explanation to attract and that's it.

News from this sites are for the masses and in order to be successful in trading, you must be a contrarian sometimes. Don't follow what most are doing but do the opposite of it instead. Don't follow this news because it is useless.

tranthidung

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People love news and people make losses.
News is for price manipulation, so if you don't have enough skills to differentiate between real and fake news, it will be better and safer for you to stay away from news. Reading news one time per week, ie. by spending around one hour in specific one day in weekends to read news. Nicholas Darvas said that when trends occur, they won't last for hours, or days, but they actuallly last longer; so reading news everyday is unneccessary.

Quote

A couple of the points he makes that stood out for me was, don't read or listen to the Wall Street pundits

If you are bitcoin enthusiasts, and know that next year bitcoin will have its halving of block rewars, let's buy cheap bitcoin, and hold them till next year, at least after May of 2020. Reading news might cause you to weakly sell your bitcoins.

Topic: Here is why you shouldn't trade bitcoin based on the CNBC Bitcoin News (Read 748 times)