Just when you least expect it, prominent mainstream news outlet CNBC follows up months of doom and gloom with an optimistic outlook on Bitcoin.
What a Coincidence!
CNBC is somewhat notorious for hating on Bitcoin, regularly referring to the gold-standard of cryptocurrency as, at best, a risky investment. At worst, the news outlet repeatedly paints Bitcoin as a scam, fraud, Ponzi scheme or bubble by continually running stories spelling disaster for the dominant cryptocurrency.
However, immediately after Bitcoin experiences one of its worst weeks since 2013 by dropping below $ 8,000, CNBC has published an article claiming Bitcoin is in an excellent buying position. Writes trader Bill Baruch: