Post
Topic
Board Speculation
Re: best indicators to use to predict bitcoin price direction?
by
entrepmind23
on 06/01/2018, 02:44:15 UTC

There is no true price indicator for bitcoin because it's not really backed by anything. People try to put their analysis up based off log charts, but even then, you're not going to be able to ever constantly call what the bitcoin price will be. The best indicators a crypto trader has is the news. Not analysis news, but technological advancement, investor news, just anything that discusses if people will be putting their money into the coin. If you find this, you'll see that the price rises. An example is the Peter Thiel news which I believe boosted the price.

Though there are times when people can speculate where the price will go in the short or long term base on the movements of prices in the charts by using technical indicators, news is still the best way for now to tell if the coin would go up or down in the near future. There are so many kind of news in a coin that you should give attention to. A listing or delisting in an exchange would have an impact on a coin, a hardfork, website or wallet release or any improvements that are news worthy can have a big impact in a coin and if a whale join the ride then that's the time price shoot up. A useful site that I use to monitor the coins that have updates is this http://coinmarketcal.com/ .