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Has Bitcoin triggered a magazine cover indicator buy signal?

Will comatose Bitcoin market come alive after NFP data?

The ‘magazine cover indicator’ is the belief that by the time an instrument reaches the front page of a major magazine cover it is a contrarian indicator. So, if the front page of the magazine speaks about a great bull market, is it a time to sell? If the front page speaks of a great bear market is it a time to buy?

Professional analysts and traders will know this from personal anecdotal experience. By the time one of the non-trading friends or family speaks about a certain investment the market is usually saturated and about . . .

Written by Paul Hough