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Analysis of CNBC Headlines Predict Bitcoin Rally

businessman prediction crystal ball

A trader on TradingView put together a graph showing Bitcoin’s price movements and how they relate to headlines reported on CNBC’s Fast Money.

The investigation, done by user “jacobcanfield”, shows that almost without fail that the price of BTC moves in exact contradiction to predictions made by CNBC reporters.

At the all-time high of late last year when Bitcoin was trading at almost $25,000, CNBC reported the headline “What will hit $25k first, bitcoin or the Dow?”. Over the next few days, the price fell by almost 50 percent to a low around $10,000. Over the month of January 2019, CNBC consistently reported positive news for Bitcoin while the price continued to fall to around $6,000. Headlines included such gems as “Bitcoin Breakout Coming?” and “Don’t fear the Bitcoin dip!”.

Then in early February, just before a huge rally back up to $12,000, CNBC reported “And you thought stocks were having a bad day. Bitcoin crashing today.”

Later in July, when Bitcoin was at one of its lowest points, CNBC reported that things are “about to get worse before they get better.” Not long after, Bitcoin gained 25 percent on its price. At a high just over $8,000, they reported that we “were just at the beginning of the next Bitcoin bull market”. A week later the price was back down to $6,000.

Fortunately, if CNBC really is the unintentional fortune teller it appears to be, then we’re undoubtedly headed for a decent bull run. CNBC’s most recent headlines include “Should we have another Bitcoin Funeral?”, and “Former Paypal CEO Bill Harris [] says it’s headed straight to zero.”

If history is anything to go by, that’s a buy sign if I’ve ever seen one.

Image From Shutterstock

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