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.
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