RATE Group | CNBC Tweets Have Been a Contrarian Bitcoin Price Indicator With 95% Accuracy
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CNBC Tweets Have Been a Contrarian Bitcoin Price Indicator With 95% Accuracy

25 Aug CNBC Tweets Have Been a Contrarian Bitcoin Price Indicator With 95% Accuracy

Posted at 15:11h in Bitcoin News by

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According to research from prominent cryptocurrency trader Jacob Canfield, who plotted out his findings against a BTC price chart on the popular charting site TradingView, CNBC’s tweets can be used as a contrarian Bitcoin price indicator with as much as 95% accuracy.

CNBC: A Contrarian Indicator with 95% Accuracy

Canfield claims that almost “every single bullish tweet” has been at or near the top of nearly every BTC rally in 2018. Meanwhile, each bearish tweet has represented a reversal of a previous downtrend.

In the last week alone, Candield says, CNBC has made three bearish tweets, potentially indicating that bitcoin has reached a bottom.

Canfield, who operates a daily crypto trading signal site, says that CNBC themselves have reached out to the trader to potentially be a guest on one of their shows.

CNBC has been long been seen as a contrarian indicator after famously reporting on how to buy Ripple after the cryptocurrency reached an all-time high of $3, only to then report on…

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