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CNBC reports on surge in Bitcoin futures

CNBC's FuturesNow platform has drawn attention to a recent surge in BTC futures, as the current price rally continues. Members of the crypto community weren't particularly welcoming to this report, due to the network's history of unfortunate crypto predictions.
CNBC reports on surge in Bitcoin futures
CNBC's reporting on Bitcoin and the crypto market is a key method of mainstream exposure, but has been met with much scorn from crypto insiders over the past year or so, due to how inaccurate its predictions tend to be.
Throughout the bear market of 2018, BTC's imminent demise was called by CNBC a number of times, only for the price to shoot back up again shortly after the segment aired. The reverse of this dynamic was also regularly seen, with a bullish prediction invariably being met with a fall in price. Many crypto traders even suggested using CNBC as a contra-indicator for a trading strategy - listening to what the hosts advised traders to do, and doing exactly the opposite.
This time around, the CNBC FuturesNow Twitter feed highlighted positive price activity in BTC futures throughout April, on the CME platform. They also gave an example of how investors might want to approach the market, with a range in between $5150 and $6100 predicted for the short-term.
Many observers urged the network to keep quiet with its predictions in case they jinxed the market and caused the rally to come to a halt, as well as ridiculing the notion of a "opening bell" in the 24-hour decentralized digital world of crypto trading.

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