CNBC Predictions Says This Counter Trader Indicator is about 95% Accurate
Predictions By CNBC Is About 95% Accurate As The Counter Trader Indicator
The CNBC, which has been considered as a financial giant, has been known to be notorious for its flagrant and the overzealous predictions they keep making. This is whether it is in the FOREX, stock market, cryptocurrencies and the housing market.
When we look at the case of Bitcoin the predictions that have been made by CNBC have actually turned out to be 95% accurate, this is all according to the Trading view post that was made by Jacob Canfield. What this means is, 95% of the time that CNBC goes ahead to make a call and you take the different trade it will give you as an investor positive returns.
Analysis From Canfield
In the analysis done by Canfield’s, he went ahead to break down the outcomes that take place from all the significant predictions that have been made by CNBC early this year. He went ahead to note that with every bearish tweet, Bitcoin has been able to see a return of about 30%.
Canfield went ahead to emphasizes that CNBC had already made three bearish tweets in just the past week, given the 30% return in the bearish predictions, then Bitcoin should be in a position to push back on the $8500 area. As a result, this could further boost the current market dominance which is actually standing at 56.2 percent which is within the AltDex 100 Index. It is a benchmark index for the large-cap tokens and cryptocurrencies.
When they were called out for the over analysts that were highlighted, Canfield went ahead first to make sure that the counter trade is viable. But from all this, he anticipates that the CNBC will go ahead and start hedging their calls, and from this, it could work in convoluting the future accuracy.
As it was reported early this month, the Ripple XRP can be considered as one of the worst predictions that have been made by CNBC. On 5th January this year, CNBC ran an infamous segment that was titled ‘Crypto class; How to buy the Ripple.’
The host for this First Money show was Brian Kelly, where he went ahead to teach the viewers on the ways they could purchase Ripple XRP. At the time the token was going for $2.50 per coin. And in turn it turned out to be at the top of the market; currently the XRP sits at $0.32, which is about 87% loss on the token.