It is because CNBC news and predictions are basically news format at its core. Its primary objective is to lure in viewers for its advertisers. So, whatever is sensational, entertaining or interesting, that will be their view.
They are really not in the business of predicting. Also, in a zero-sum game such as trading, not everyone can make profit, there must always be top buyers and bottom sellers.
The show is antithetical to trading, it is after all a mass mainstream media. Terrorist attacks, catastrophes, etc - they are the bread and butter of news, not future prices.
Topic: Here is why you shouldn't trade bitcoin based on the CNBC Bitcoin News - page 2. (Read 790 times)
August 19, 2019, 08:33:09 AM
August 19, 2019, 08:27:19 AM
August 19, 2019, 08:24:00 AM
I could have made some decent money if I traded against some of CNBC's bullish statements, and then I'm mainly referring to the statements of Brian Kelly. If he's invited to have a say, the market mostly seems to do the opposite.
The other clowns over at CNBC are rarely saying anything that makes sense. In this case it would be more of a 50/50 bet would you trade against their statements. Not really worth it in my opinion.
Overall, you have to read between the lines and pick up the important bits and pieces, which admittedly is a challenge considering the noise, but as I said, Brian Kelly is usually a very decent counter indicator. Look out for him.
The other clowns over at CNBC are rarely saying anything that makes sense. In this case it would be more of a 50/50 bet would you trade against their statements. Not really worth it in my opinion.
Overall, you have to read between the lines and pick up the important bits and pieces, which admittedly is a challenge considering the noise, but as I said, Brian Kelly is usually a very decent counter indicator. Look out for him.
August 19, 2019, 07:57:58 AM
<...>
Nice depiction of how price prediction based news are, very often, what seems to be a wild guess, that tries to have a causative reason vouching for the prediction, but fails to measure the impact of it. I wonder however how many times the "got it right" (some are bound to be right, even if by chance) in that same period of study. August 19, 2019, 07:34:42 AM
Thanks for your share and observations, this had happened to me fifth times and would not forgets that which happened in May 18, this made me to lost almost $2000 all because of the said news which course my family member to ask me to sell out my portfolio, I believe that, that was the last time I will fall again for such immature News.
August 19, 2019, 07:30:26 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.
You wouldn't believe how many posts i see about trading related to some news.
Yes, newcomers don't know about that. They need to filter every news they got so they can know if the news is right or wrong so they can react base on the market situations. Sometimes traders can be panic once they read some news that saying the market will fall or else and they are selling the bitcoin or altcoin with fast because they think that it will happen soon. But the reality, the market is not moving according to the news, but it moves to the other way.
Maybe the news needs to reach more readers and visitors so they make bombastic news to get the top position at the search engine so their website can be famous. We don't know what their reason to do that, but one thing that we should know, never trust the news before we search the other news to compare.
August 19, 2019, 07:14:44 AM
Cnbc, generally tv, twitter fenomens etc.if they start to talk about any coin, it means they already bought it and now they want to sell.so just ignore them and make your own moves.
August 19, 2019, 07:10:15 AM
True, maybe i should change the title to CNBC news.
August 19, 2019, 07:05:17 AM
You have done well by providing analysis and facts to back the claims up. However, it will be totally not right to conclude that one should not trade because of news because even though CNBC might have been wrong a lot of times, they are not not the only platform dishing out information or content related to crypto. Other sites can also be right. Another factor worthy of consideration is that the claim made by CNBC, was it found to have been false? if so then they need to be avoided but if not then its totally not right to blame them for what they have no control over which is the case here. Most news sites reports on past events but CNBC in the case of crypto does the future outcomes which can only be on predictions and nothing else.
August 19, 2019, 06:37:44 AM
Everybody knows that CNBC is an absolute joke when it comes to cryptocurrency market predictions, there are actually memes circulating on Telegram about how they are wrong about 90% of the time.
You can actually use their inaccuracy in your favor though, literally do the exact opposite of what CNBC says, then there's a 90% chance of success
@OP did you compile this information yourself, or is there a source?
You can actually use their inaccuracy in your favor though, literally do the exact opposite of what CNBC says, then there's a 90% chance of success
@OP did you compile this information yourself, or is there a source?
I made this by myself. It took me quite some time to check all of their news - twitter links and to check all of the prices. I also checked CNBC bitcoin predictions from 2018 and dec 2017 because dec 2017 was quite important. Who thinks that there is not enough CNBC predictions from Dec 2017 to Aug 2019? This year in 8 months they gave more than 30 bitcoin predictions or statements. If you also consider 2018 and 2017, there are quite a lot of them.
Besides that, i'll tell you one thing. Let's say you predict 200x times in which direction will bitcoin go, just by guessing . You couldn't be wrong 90% of the times even if you wanted to.
August 19, 2019, 06:28:02 AM
Everybody knows that CNBC is an absolute joke when it comes to cryptocurrency market predictions, there are actually memes circulating on Telegram about how they are wrong about 90% of the time.
You can actually use their inaccuracy in your favor though, literally do the exact opposite of what CNBC says, then there's a 90% chance of success
@OP did you compile this information yourself, or is there a source?
You can actually use their inaccuracy in your favor though, literally do the exact opposite of what CNBC says, then there's a 90% chance of success
@OP did you compile this information yourself, or is there a source?
August 19, 2019, 06:27:46 AM
I don't think that every single time crypto related positive news can open chances for traders actually. As a trader its not going to be a wise decision to wait for this kinda news every time to buy or sell. To be a successful trader you must have to build the knowledge of market analysis by your own. Whatever you say behind every investment experience always play a significant role and same for the crypto investment too.
In some cases genuine news make a big market influences and it happened so many times in the past. Nowadays some new cyprto blogs spread sudden news about crypto currency world to get subscribers on their website. From my opinion its important to choose the right and wrong one. Just follow the genuine one and blend it with your own prediction to continue a better trading
In some cases genuine news make a big market influences and it happened so many times in the past. Nowadays some new cyprto blogs spread sudden news about crypto currency world to get subscribers on their website. From my opinion its important to choose the right and wrong one. Just follow the genuine one and blend it with your own prediction to continue a better trading
August 19, 2019, 06:26:12 AM
How? I just gave all CNBC links where you could predict the direction of the price based on CNBC predictions, by betting on the opposite direction. 90% of their recommendations and statements were contra-indicator. That's a lot.
I personally think that it's either just by chance or because they're simply wrong most of the time.
It could be by chance that they're 90% wrong because the sample size really is not that big. If it was like hundreds and hundreds of predictions and they still managed to be wrong 90% of the time, then I'll think twice and be really skeptical.
August 19, 2019, 06:20:05 AM
Can you explain why are CNBC predictions for bitcoin almost perfect contra-indicator. That means the price goes the opposite direction of what they recommend or say.
Because you can't predict markets. It's that simple. There's so much unpredictable factors that could affect the markets that it's next to impossible to predict markets with pin-point accuracy.
At least we could say that CNBC is so good at being wrong.
How? I just gave all CNBC links where you could predict the direction of the price based on CNBC predictions, by betting on the opposite direction. 90% of their recommendations and statements were contra-indicator. That's a lot.
August 19, 2019, 06:17:59 AM
Can you explain why are CNBC predictions for bitcoin almost perfect contra-indicator. That means the price goes the opposite direction of what they recommend or say.
Because you can't predict markets. It's that simple. There's so much unpredictable factors that could affect the markets that it's next to impossible to predict markets with pin-point accuracy.
At least we could say that CNBC is so good at being wrong.
August 19, 2019, 06:13:37 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.
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.
Can you explain why are CNBC predictions for bitcoin almost perfect contra-indicator. That means the price goes the opposite direction of what they recommend or say. (90% predictions). Does the price react if it goes the opposite direction or is this a coincidence? But hard to believe that 90% of all predictions can be a coincidence.
August 19, 2019, 06:10:54 AM
Adoption would be the ideal news for bitcoin and there's a meme on the different platforms whenever CNBC reports about bitcoin. It's our call not to follow anyone's tip whether to sell or buy. They are pushing people to buy so that they can sell and whenever they tell people to sell, it means that they are buying and doing the opposite. I've noticed this also before when someone pointed it out on the CNBC crypto page and I've realized that he has point about the same comparison as what you did.
August 19, 2019, 06:08:20 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.
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.
August 19, 2019, 05:55:32 AM
The previous news was about Goldman Sachs recommending to buy bitcoin. I was pretty much sure that was a bad sign. Why would they help us? From that day (12 Aug) the price of bitcoin has dropped from 11.500 usd to 9400 usd or 17%.
Goldman Sachs just called for a massive #bitcoin breakout. @BKBrianKelly gives his take.
https://twitter.com/CNBCFastMoney/status/1161027353163784197
Goldman Sachs just called for a massive #bitcoin breakout. @BKBrianKelly gives his take.
https://twitter.com/CNBCFastMoney/status/1161027353163784197
August 19, 2019, 05:52:39 AM
Whatever CNBC said on various occasions, are speculation only and speculation can't be termed as NEWS per say! News have a different meaning and purpose! See below examples,
A country legalizes or bans bitcoin - is a news!
Bitcoin will soon reach 15k - is a speculation and an attempt to grab mass attention!
If someone is betting on such speculations, only God can help him!
A country legalizes or bans bitcoin - is a news!
Bitcoin will soon reach 15k - is a speculation and an attempt to grab mass attention!
If someone is betting on such speculations, only God can help him!
Even "news" couldn't be readily trusted. Gone are the days when we had to buy them. Today, we cannot just simply equate news with facts or truth.
News are everywhere and many of them fake ones. Others are simply blown out of proportion.
"A country legalizes or bans bitcoin" in the news could actually just be a mere case of cryptocurrency exchange regulation.
Jump to: