Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

This Bitcoin Indicator Uses CNBC Tweets to Predict Price Action and Next Major Crypto Rally

by Daily Hodl Staff
August 21, 2018
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

Bitcoin traders are trying to gauge the market before the US Securities and Exchange Commission makes its next decision on yet another Bitcoin ETF proposal.

In this Bitcoin (BTC) indicator, bullish and bearish tweets from CNBC’s Fast Money are used to chart Bitcoin price action. Covering cryptocurrency trends, the show regularly features market analysts and experts.

#Bitcoin stuck below $6,500, and @AnthonyGriz is betting on more pain to come pic.twitter.com/4vIGptyuAr

— CNBC Futures Now (@CNBCFuturesNow) August 21, 2018

Jacob Canfield, a trader and investor, says he wanted to test the theory that “CNBC is a good contraindicator”. According to his data, a major rally is on the way.

He explains,

“After back testing what I like to call the ‘CNBC Bitcoin 4.90% Indicator,’ it is giving us a clear buy signal in this new range. 

Almost every single bullish tweet we’ve seen has been at the top of nearly every single rally, giving us a very strong sell signal. 

With every bearish tweet we see, it has been a clear indicator of a short reversal and end of a rally.”

#1 – 90% return. 
#2 – 26% return. 
#3, #4 #5 – 34% return.”


After posting his chart on Twitter at noon, Canfield has racked up over 200 retweets and 600 likes.

Perhaps in an effort to shake Canfield, CNBC’s Fast Money labeled their most recent tweet “neither bullish nor bearish.”

This tweet is neither bullish nor bearish. $BTC pic.twitter.com/vJMJ0V1fGF

— CNBC's Fast Money (@CNBCFastMoney) August 22, 2018

Follow us on Facebook            Join us on Telegram            Follow us on Twitter

Both the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF are based on futures contracts that were approved by the Commodity Futures Trading Commission in 2017. The upcoming deadline for a decision on the proposals is on or by August 23. It will come on the heels of the SEC’s latest rejection on an ETF proposal from the Winklevoss twins and a delayed decision on a proposal from VanEck.

BTC spiked today, rising to a 24-hour high of $6,882 from $6,459, according to WorldCoinIndex. At time of writing, Bitcoin is trading around $6,710.



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Submit a Press Release

Crypto Livewire – Press Releases

  • Bitsgap Launches Intuitive Combo AI Bot for Futures Trading
    April 21, 2021
  • eToro Adds Chainlink and Uniswap Amid Investor Surge for Crypto
    April 19, 2021
  • TeraBlock Secures $2.4 Million to Build a Newbie-Friendly Crypto Exchange Powered by Machine Learning
    April 19, 2021
  • BlockSwap Network Announces Balancer LBP and Uniswap LP Incentive
    April 19, 2021
  • Raze Network Completes Triple IDO and Balancer LBP Event
    April 19, 2021
  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$54,483.00
$54,483.00
1.48%
Ethereum
$2,499.31
$2,499.31
9.65%
Binance Coin
$559.03
$559.03
3.27%
XRP
$1.30
$1.30
2.82%
Polkadot
$34.74
$34.74
2.46%
Cardano
$1.21
$1.21
2.69%

Spotlight

  • Raoul Pal Says One Threat May Derail the Bitcoin Revolution – And It’s Not Regulation
    April 15, 2021
  • Here Are 4 Crypto Assets To Buy Amid the Violent Dip, Says Trader Credible Crypto
    April 19, 2021
  • Cardano Creator Charles Hoskinson Says Dogecoin Bubble Will Collapse, Bring Massive Losses to Retail Traders
    April 17, 2021
  • Airdrops Could Send These Under-the-Radar Altcoins to the Moon, Says Top Analyst Tyler Swope
    April 20, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×