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Author Topic: CNBC Analyst Predicts Bitcoin Price Is ‘About To Explode,’ Citing ETF Buzz  (Read 257 times)
oksgvardukraine2018
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October 10, 2018, 05:55:32 AM
 #1

CNBC Analyst Predicts Bitcoin Price Is ‘About To Explode,’ Citing ETF Buzz

Cryptocurrency analyst Ran Neuner — host of the CNBC show Crypto Trader — believes BTC prices are “about to explode,” citing bullish market buzz about the near-term possibility of an SEC-approved bitcoin ETF.

“I just bought bitcoin for my parents. It’s too obvious that it’s about to explode,” Neuner tweeted on October 7.

Neuner said the mounting expectation that the Securities and Exchange Commission could soon approve a bitcoin ETF could send prices through the roof.

Countdown To SEC Deadline
Neuner, the CEO of crypto investment firm Onchain Capital, noted that around this time last year, BTC surged on reports that a cash-settled futures contract would launch.

Neuner reasoned that SEC approval of a bitcoin ETF would be much bigger news than a futures contract, and would have a more dramatic impact on the market.

CNBC crypto trader ran neuner
Ran Neuner is bullish about bitcoin. Credit: CNBC
“Last year, around this time, BTC went from $6,691 (Nov. 11) to $20,000 (Dec. 17) in 5 weeks,” Neuner tweeted. “This on the back of the expectation and launch of a cash settlement BTC futures contract.”

He continued: “An ETF is a way bigger deal and requires actual purchase of BTC. 2 looming SEC decision deadlines ahead.”
https://www.ccn.com/cnbc-analyst-predicts-bitcoin-price-is-about-to-explode-citing-etf-buzz/
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October 10, 2018, 06:08:31 AM
 #2

Obviously everyone is jumping on the bandwagon about the ETF and we have heard a lot of media saying that it will bring institutional money in the market and could probably end this bear market. However, majority of us get tired of hearing all this ETF's news around so I'll just wait if everything really "explodes", or better yet, better to accumulate today and wait for the actual event (if it happen).

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October 10, 2018, 07:01:14 AM
 #3

In any case, growth will be as the market is always red. There can be no question of when this period will begin. How many people will still have time to give up on the critical currency.
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October 10, 2018, 07:28:06 AM
 #4

It's certainly possible. There have been recent developments on the SEC's end that make future ETF approvals a little more likely. I'm still not convinced it's going to happen, but it does seem like a price surge (a la $6k to $8k, which started this frenzy) is on the horizon at this rate.

This never ending buzz on ETFs is ridiculous though. People either really think that an ETF approval is imminent or they're desperate to break out of the bear market.

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October 10, 2018, 11:50:38 AM
Merited by RodeoX (2)
 #5

Quote
“I just bought bitcoin for my parents. It’s too obvious that it’s about to explode,” Neuner tweeted on October 7.

He sounds like an idiot.I don't see what makes the bitcoin price explosion so obvious?The SEC won't approve bitcoin,why does he think that it will approve it?Does he think that the "ETF HYPE" will strike the crypto traders again?I don't believe that the people inside the crypto community are that stupid.

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October 11, 2018, 02:07:37 AM
 #6

He sounds like an idiot.I don't see what makes the bitcoin price explosion so obvious?The SEC won't approve bitcoin,why does he think that it will approve it?Does he think that the "ETF HYPE" will strike the crypto traders again?I don't believe that the people inside the crypto community are that stupid.

Well it can't be denied that there's still a lot of hype. People are still hopelessly pushing for it. That being said, I don't think people will be mass buying Bitcoin until approval is basically a done deal. The market has been led on for too long and has already been punished for banking on hype.

Come to think of it, is it possible that the current stable state of the market will contribute to future decisions? Instability was a factor for rejection right?

But yeah I think it's pretty stupid to buy only because you're expecting an explosion.

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October 11, 2018, 02:45:41 AM
 #7

Yea it's going to explode into the ground, actually it's working on that right now.
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October 11, 2018, 04:08:18 AM
Merited by RodeoX (2)
 #8

The most bearish thing about the current market is how bullish everyone has become.

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October 11, 2018, 04:15:52 AM
 #9

The most bearish thing about the current market is how bullish everyone has become.

Who is bullish? Tom Lee does not count.
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October 11, 2018, 04:53:35 AM
 #10

it seems like a lot of people are getting too desperate to make profit these days since bitcoin has become stable and their day trading days of buying at $6000-$6200 and selling at $6900-$7200 is over Cheesy

as for ETF and SEC, that news is overused in my opinion and because of that it has lost all its effectiveness. obviously nobody is caring about the rejections anymore and in my opinion at this point an approval is not going to do much either. although it would be a good news and might lead to some small rises but i don't think it can be a major thing anymore.... the hype is dead...

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October 11, 2018, 07:54:24 AM
 #11

The most bearish thing about the current market is how bullish everyone has become.

Who is bullish? Tom Lee does not count.

Yeah, aside from the usual permabulls, sentiment has been pretty negative. If anything, the bulls have become more reserved. That's one of the reasons I've gotten more and more open to the bull case.

It's all up in the air until the range is broken. I won't be convinced until we at least break the upper bound of the triangle. Looking to hold the $7,500 area as confirmation.

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October 11, 2018, 07:08:27 PM
 #12

Yea it's going to explode into the ground, actually it's working on that right now.
I actually think the fact that a lot of people are actually becoming bullish because of the end of the year would even make it so easy for the whales to feed on so many flesh in coming days as their emotions and expectations gets tampered with.

Well, one thing for sure right now is that whatever the likes of CNBC wants to say, I just see it as an attempt for some whales to make some gullible people think that this market is ready for an uptrend, but right now, what we are just seeing is the opposite. Even if anyone should be expecting anything bullish at the moment, it should not even be because of ETF or anything, because there is nothing to be bullish on.
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October 11, 2018, 07:24:06 PM
 #13

The most bearish thing about the current market is how bullish everyone has become.

Who is bullish? Tom Lee does not count.

i don't count as well but i'm always BULLISH as f*** ,long term perspective of BTC is just as solid as a rock, its just so good in so many ways.
I'm also a long time hodler and bear or bull market, i do not deviate from the big picture and the LONG term succes ahead for BTC.

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October 12, 2018, 12:04:56 PM
 #14

The most bearish thing about the current market is how bullish everyone has become.
Yes, whales can easily read emotions on the chart and looking at the way everyone has been going around talking about some bullish movement when the market is still trying to find a direction is absurd and that can make it easy for the market to even get manipulated the more based on speculations of some sort. I really do not see anything exploding at the moment until it actually explodes, and in this vein, the market could even decide explode downwards.

As far as I am concerned, this is still a very bearish market and until we actually see a clear signal upward, nothing has changed. But everything will change in minutes if any rock solid positive news arrives hence being prepared by making use of available lower prices must be the wise decision, an average Joe like myself could do Wink.
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October 12, 2018, 12:18:57 PM
 #15

CNBC Analyst Predicts Bitcoin Price Is ‘About To Explode,’ Citing ETF Buzz

Cryptocurrency analyst Ran Neuner — host of the CNBC show Crypto Trader — believes BTC prices are “about to explode,” citing bullish market buzz about the near-term possibility of an SEC-approved bitcoin ETF.

“I just bought bitcoin for my parents. It’s too obvious that it’s about to explode,” Neuner tweeted on October 7.

Neuner said the mounting expectation that the Securities and Exchange Commission could soon approve a bitcoin ETF could send prices through the roof.

He continued: “An ETF is a way bigger deal and requires actual purchase of BTC. 2 looming SEC decision deadlines ahead.”
https://www.ccn.com/cnbc-analyst-predicts-bitcoin-price-is-about-to-explode-citing-etf-buzz/

LOL, he timed his predictions right.

Nothing will happen this year. There is just not enough steam for any trigger would release it. It is simple as that.

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October 12, 2018, 12:33:07 PM
Merited by LFC_Bitcoin (2)
 #16

Obviously everyone is jumping on the bandwagon about the ETF and we have heard a lot of media saying that it will bring institutional money in the market and could probably end this bear market.
That could very well be.  I have a feeling that there are a lot of people with very deep pockets who don't want to own on a computer/phone, in a wallet--the way most of us do.  They would be more comfortable buying something like an ETF that's listed on a stock exchange, which would make their investment much easier to sell.  That makes sense to me. 

And yeah, I'm tired of hearing about the ETF too.  I wish they'd either piss or get off the pot, but I'm hoping it actually does get approved.  My guess is that it would have a positive effect on price, but I wouldn't bet my house on it.

As far as this guy's prediction goes, it was made a couple days ago, and in that time bitcoin has dropped something like $300.  Sure, long-term bitcoin could "explode", but in the short-term it could fall even farther.  And it's obvious that his prediction didn't convince anyone to buy, at least not in huge numbers. 

You have to be careful when you read prognostications like this.  There were analysts back in the late 90s predicting AOL was going to the moon, and they provided all sorts of reasons that you might think made sense, but the bottom line is that no one knows what the price of anything is going to be at any time in the future.  That's especially true for something like bitcoin, which defies traditional analysis anyway.

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October 12, 2018, 01:44:59 PM
 #17

Obviously everyone is jumping on the bandwagon about the ETF and we have heard a lot of media saying that it will bring institutional money in the market and could probably end this bear market. However, majority of us get tired of hearing all this ETF's news around so I'll just wait if everything really "explodes", or better yet, better to accumulate today and wait for the actual event (if it happen).

that the important part of it though! ETF has always been 90% hype and whether it is approved or rejected will not  change a thing for bitcoin and its price apart from its hype and fear factor. these "institutional investors" that everyone keep hyping about with ETF are not even going to come in "bitcoin market" since with ETF whey are not buying bitcoin but they are buying ETF!
and since now everyone is tired of the same meaningless hype and most of them know better to think it is more than a hype, the effects of this type of news is vanishing.

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October 12, 2018, 03:26:01 PM
 #18

The most bearish thing about the current market is how bullish everyone has become.

How do you mean?
I don’t see an overly bullish sentiment around the forum, not from anybody who knows what they’re talking about & has been here for a while.

I’d love to see an ETF gain approval but I just can’t see it being a possibility for at least a couple of years.

I’m a long term HODLER & I’d love to see an ETF approval as we’d moon due to it but it’s not happening yet imo.

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October 12, 2018, 03:30:55 PM
 #19

Cryptocurrency analyst Ran Neuner — host of the CNBC show Crypto Trader — believes BTC prices are “about to explode,” citing bullish market buzz about the near-term possibility of an SEC-approved bitcoin ETF.

this is all very funny, well let's go back in the past, we are going back to February this year. He said this in February this year:

CNBC’s Ran Neuner Says Bitcoin Will End 2018 At $50,000

Ran Neuner, the host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia, made a tweet Thursday, Feb. 1 claiming that Bitcoin will end 2018 at the price point of $50,000.

we are already finishing the year 2018 and the price continues in the $ 6000 and has little chance of reaching more than $9000, so where are the $50,000? these analysts have greatly exaggerated their predictions and they fail a lot. they are no longer trusted

“I just bought bitcoin for my parents. It’s too obvious that it’s about to explode,” Neuner tweeted on October 7.

Congratulations on having bought bitcoin for your parents, but this: "  It’s too obvious that it’s about to explode "

I do not agree, there are many chances that the SEC will reject and the price will drop a lot



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October 12, 2018, 03:32:47 PM
 #20

As far as I can tell doing the exact opposite of CNBC has been the only near dead cert in recent history. Some day that'll change but coming out with stuff like this says to me it won't.

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

I see nothing on the horizon that makes the likelihood of ETFs any higher than it has been in the past, which is not very high at all.

Weird that very few 'experts' have had a go at predicting what Bakkt will do. It could be huge, it could be nothing. It would be fun to see some guesses.

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