Smackdown on CNBC last night over BTC
If you missed this last night, it was downright hilarious.
(Source: RchGrav on youtube)
A guy named Rich Ross, a famed chart technician, came on CNBC's Fast Money segment to talk a little bitcoin and cryptocurrencies, among other things.
It first started off somewhat tame with Ross going to the charts to talk a little about the recent price action of bitcoin and ethereum.
His overall takeaway was that bitcoin was likely destined to hit $8,000 (ish) in the near future and when it does, probably a good spot to buy for a bounce.
However, that is all he thinks it is likely good for, a bounce and not a long term investment.
From there he basically said that there was no reason to ever buy these things (cryptocurrencies). Said they were akin to gambling in Vegas and that there were much better investing options out there in the current environment.
Specifically he mentioned the performance of Boeing over the past 2 years as an example, up over 200% in that time period.
He failed to mentioned that bitcoin was up about 30x in that same time period, but that was beside the point.
Here is where things started to get interesting...
Ross then went back to discuss among several of the panel members, singling out Dan Nathan for not being as overly bullish as he himself had been on the stock market over the past year or so.
Which, to that point, he was actually right.
Nathan has been wrong on many of his calls over the past few years.
However, Nathan has been correct on several calls as of late, including his endorsement of bitcoin.
This is where it goes from interesting, to downright comedy...
Nathan and Ross go back and forth exchanging jabs, basically something you might see from 12 year olds on the playground.
Not what you normally see on national TV among business professionals.
Nathan, seemingly visibly frustrated, eventually tells Ross to go "piss off". Something I have never seen in all my years watching this segment.
Which of course was followed up by Ross chiding Nathan to give him a good call right now, off the cuff.
If you didn't catch it, check out the clip above for a good laugh. :)
Stay informed my friends.
Follow me: @jrcornel
This was actually embarrassing for the guy touting Bitcoin. The chart technician made some very real arguments. "Dude you don't know my call", then asked for his call, "dude are you serious". Those weren't strong responses worthy of thug life drops. Those were cringe worthy responses.
That was not a good segment for Bitcoiners.
Those were not real arguments. Everything the stock guy was saying was half truths. That was the problem you can't argue with an idiot who isn't even giving real truthful arguments...
I agree
lol ! so funny I'm dying hhh
BTC IS GOOD
I'm going to have this image in my head every time the media goes at Trump about something he does or says
I can't stop staring at this bobbin' head Obama... lol
Frickin Obomber
hell you nailed that
Good info! Thanks
Lol that dismissive hand-wave and, "Dude, seriously," really ties it together. If one of them wasn't in the studio they would have gone for the classic "Satellite feed interrupted" mic cuts.
I honestly thought they might duke it out when I was watching it live...
Those rare epic moments when that actually happens, usually on foreign tv lol.
Wow. Talk about heated. I think the issue is so called professional commentators were caught off guard bully bitcoin and the wider crypto space and feel they looks but stupid (they do). Therefore they take every opportunity to be seen to fight back. Despite the crash, if you bought btc before Nov 17 you are still considerably up, something that is always overlooked!
At least say WEED as a good stock... it's up like 1,500%.... 200% :| be serious man.
Rich Ross... what is he a marvel super hero
I have to agree Dan Nathan didn't handle this well with some childish responses especially when his results were called into question. Anyone invested in bitcoin should easily be able to come back with a huge % gain when asked what have you done for your investors lately. Dan came back with "piss off". Wish BK was there I feel like he woulda jumped in and handled it better. The guest chartist didn't have anything besides some loose techncial analysis which is only right half the time at best anyway.