Fundstrat’s Tom Lee Denies CCN’s Report, Calls It Fake News
Fundstrat’s Managing Partner and Head of Research, Tom Lee, recently commented on an article published by CCN, calling it fake news. The article was written by Yashu Gola, and it is based strongly on a report published by Bloomberg. However, Gola’s piece got several things wrong, including the company’s goals, misquotes of the source material, false reports regarding the medium of communication between Bloomberg and Robert Sluymer, as well as false claims that he is talking on behalf of the company.
Fake news. This is not what our firm said https://t.co/KvwlpwvIHs
— Thomas Lee (@fundstrat) February 8, 2019
The False Reports
One of the big issues with the Gola’s report includes claims that Fundstrat has a price target for Bitcoin in Q1 2019. According to the article, the price is $2,270, which is something that Lee denied. This is something that Fundstrat stopped doing back in December 2018. While this information was mentioned in Bloomberg’s article — written by Joanna Ossinger — the original report did not cite the price target, but Robert Sluymer’s earlier statement that $2,270 is an implied decline if BTC was to drop below $3,100.
Sluymer, who is a Managing and Technical Director at Fundstrat, also did not mention a time frame when the decline might be expected.
Another thing that Gola’s article got wrong was the method of communication between Bloomberg and Sluymer. Gola assumed that the method of communication was an email, while Ossinger states that the information came from a note. Bloomberg’s entire article does not mention the word ’email,’ while Gola writes that: “The bullish-turned-bearish market research firm said in an email to Bloomberg that bitcoin could now fall below its current-bottom level near $3,100.”
Another issue, which is more troubling, is the fact that Gola misquoted the source material. The CCN version of Ossinger’s report lacks punctuations, which may result in changing the meaning of the quotes.
However, Bloomberg’s article also made an error in its very title which indicates that Sluymer’s statements are made by Fundstrat. The article was corrected afterward, pointing out that the statement was not made by a firm but by Sluymer. However, in CCN’s report, this mistake is being treated as a fact, and it continues to exist as fake news.
The comments made in Bloomberg’s piece are Sluymer’s alone, and they should not be taken as the official stance of the company. While Gola’s piece contains a number of errors of this type, it seems likely that these are simply mistakes and not attempts at purposeful fake reporting. However, the reported information still sends out a wrong impression about the company and its officials, making it clear why Lee felt the need to point out that the claims are wrong.
TRON (TRX) Long-Term Price Forecast- February 17
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.
TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.
With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.
TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
Forbes releases newsletter dedicated to crypto targeting potential investors
Forbes released new premium newsletter dedicated to cryptocurrency and blockchain.
Forbes doesn’t seem to get enough crypto. The media giant gets deeper with the nascent technology with their new service, Forbes CryptoAsset & Blockchain.
The new premium-subscription digital newsletter contains in-depth coverage of blockchain, as an effort to establish Forbes as a prominent voice in the field.
According to Media Post, investor and co-author of CryptoAssets: The Innovative Investor’s Guide to Bitcoin and Beyond, Jack Tatar has been appointed as the editor.
While the contributors will be Forbes’ stable journalists that will interview notable figures in crypto space, such as Ripple’s CTO David Schwartz, cofounder and CEO of Zcash, Zooko Wilcox, and Morgan Creek Capital’s Mark Yusko.
“This newsletter is geared toward educating potential investors in blockchain and crypto, and the goal is to provide actionable and profitable advice,” said Matt Schifrin, VP and managing editor of Money & Markets at Forbes.
Despite its premium price, which is set at $595/year or $195/quarter, Forbes’ Senior VP of consumer marketing and business development, Nina La France claimed the early response as “solid”.
Speaking about future publishing plan, Schifrin reveals that Forbes will publish its first-ever Forbes Blockchain 50 list that covers most prominent firms in the crypto space in the coming months.
Is the list something worth waiting for? Stay with Chepicap to find out.
In the meantime, checkout Chepicap’s YouTube channel to find out about the current crypto market state.
Investment portal, TradingView launches premium crypto dashboard at 0.09BTC
TradingView, the investment portal just launched its very own Crypto Dashboard.
The platform known for its exhaustive and real-time information on everything related to trading and investment, TradingView just launched its crypto specific portal.
The crypto dashboard provides data from 25+ crypto exchanges, such as Binance, Bitfinex, Bithumb, BitMEX, BittrexCEX.io and Coinfloor.
The new platform aims to “equip” crypto traders with all things important to nail the trading activities, such as 25 technical indicators on a single chart, unlimited chart layouts and watchlists, 200 server-side alerts and the capability to connect 5 devices at the same time.
The “trading power” is offered in their premium plan that costs 0.09 Bitcoin/year, which the website says as a good deal as it means the lower the Bitcoin price, the higher the discount.
However, that also means that when the bull comes, it wouldn’t be that affordable to many people. Hopefully by then, TradingView would revise their pricing for the benefits of all parties.
The question is, when will the bull come? Check out Chepicap’s YouTube channel to get an idea about the current crypto market state.