Bitcoin: CNBC Counter Indicator Strikes Again, BTC Outpaces Cannabis

For a while now, CNBC has been controversial in the Bitcoin and crypto community. Since it began heavily covering the space in 2017, which came as BTC was skyrocketing, pushing past price milestones of $5,000, $10,000, and so on, the outlet has been known to make bad calls on the cryptocurrency.

In fact, one analysis completed by cryptocurrency personality and trader Jacob Canfield revealed that CNBC’s coverage of the Bitcoin market was a counter indicator 95% of the time in much of 2018. In other words, when the prominent outlet published an article or segment claiming BTC would head higher, it fell. The inverse was also true.

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