CNBC goes bearish on Bitcoin

[cellard]

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.

[1715599826]

1715599826

[bitChipper]

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.

[Deamindit]

I would say this is the biggest buy signal you can get.

[Jon Connor]

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

[pooya87]

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.

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...

[Kemarit]

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.

[davis196]

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...

[snipie]

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 

[magneto]

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.

[liuqi]

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.

[rodalutor]

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.

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.

[buwaytress]

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.

[cellard]

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.

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.

[The Sceptical Chymist]

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.

[pooya87]

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.

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.

[fabiorem]

Well, now it will go up.

[electronicash]

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.

[bitcoinisbest]

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.

[jrrsparkles]

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.

HODL meant for making money in ling term but when someone is looking to make fast money then they need to take consideration all about these news because most of the time the market will gets react to this either in the positive or nagative direction so need to analyse what will happen will help us to make money but there are guys who can use this stratrgy to make trap for us.

[NeuroticFish]

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.