CNBC's tweets are the "perfect contraindicator" to what will happen in the market

23 Aug, 2018
by Fifi Arisandi
News
CNBC's tweets are the perfect contraindicator to what will happen in the market

A Bitcoin investor and analyst creates a chart that shows CNBC is the perfect contraindicator to what happens in the market. 

A Bitcoin investor and analyst with Twitter handle @ILOVECRYPT0 created a chart that shows how CNBC's tweets compared to what actually happens in the market afterward. The chart shows how CNBC has become what he called as the "perfect contraindicator" as they have been wrong more than 90% of the time on their crypto market predictions. 


However, instead of using it against the giant news platform, he decided to use it as a tool where he can give recommendations on what investors should do to get the most benefit on any market conditions.   


On Tradingview where the chart is posted, the analyst clearly mentions that almost every single bullish tweet has been at the top of every single rally, which gives a very strong sell signal. Whereas, every bearish tweet has been a clear indicator of a short reversal and end of a rally with an average of 30% return. Furthermore, he added, "I believe this is a perfect reflection of the emotions of average traders and investors, which is why it's such an effective strategy."

The analyst actively comments on every tweet of CNBC regarding the crypto market, and the news platform seems to also enjoy the engagement as they occasionally respond to the comments. He also claimed to have received a call from the news platform about the potential of being invited to the show. 

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Read more about: Bitcoin (BTC)

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