The truth is, nobody knows which
Posted: Mon Jan 20, 2025 3:28 am
The truth is, nobody knows which way bitcoin is going to go in the short term. There are lots of factors affecting bitcoin’s price at any given time, some known, some unknown.
There are lots of people drawing charts online, who may appear confident that netherlands whatsapp number data is going to make a move up or down based on technical factors, but these chart readers have been proven wrong over and over again. There are many logical fallacies and biases to point to when looking at trader confidence, including the gamblers fallacy, recency bias, survivorship bias, normalcy bias, hindsight bias, and confirmation bias.
In other words, traders have no idea what they’re doing, so don’t follow their advice.
“Models” are just as bad.
One extremely popular online persona called PlanB spent most of 2020 and 2021 promoting various “models” about bitcoin’s price movement. His floor model, which he said never missed in 10 years of bitcoin’s existence, predicted $98,000 by November and $135,000 by December. Fail and fail. His “stock to flow” model predicted $100,000 bitcoin by Q4 2021. Another fail.
If you were trading based on this information, you would have lost money.
There are lots of people drawing charts online, who may appear confident that netherlands whatsapp number data is going to make a move up or down based on technical factors, but these chart readers have been proven wrong over and over again. There are many logical fallacies and biases to point to when looking at trader confidence, including the gamblers fallacy, recency bias, survivorship bias, normalcy bias, hindsight bias, and confirmation bias.
In other words, traders have no idea what they’re doing, so don’t follow their advice.
“Models” are just as bad.
One extremely popular online persona called PlanB spent most of 2020 and 2021 promoting various “models” about bitcoin’s price movement. His floor model, which he said never missed in 10 years of bitcoin’s existence, predicted $98,000 by November and $135,000 by December. Fail and fail. His “stock to flow” model predicted $100,000 bitcoin by Q4 2021. Another fail.
If you were trading based on this information, you would have lost money.