No one is able to do this (timing the market) in traditional markets but everyone does try to do it both in traditional markets and in crypto. Why do people think that they're able to do this?
Is it because they think they can do it while no one else can? Let me know folks.
I'll be refering to the experts from traditional markets and the "experts" posting TA charts on tradingview. I think they know it's almost impossible to guess what the next move is going to be, but to them, timing the crypto market correctly gives them a sense of
authority [1] among the cryptocurrency newcomers and those who dont have a lot of knowledge about crypto yet they've been in the game for quite a while. Maybe they do this to try to make an "educated guess" like some users have said, or perhaps they do it to gain a following, a group of folks who will follow whatever they (authority) say about the crypto market because of their record of making the right calls at the right time, people tend to follow someone who's knowledgeable and trustworthy.
To be honest, the whole thing is complex, to some people timing the market using hypothesis or techincal analysis is actually a viable strategy (for investing and/or Trading), to some others, it's nothing more than pure speculation as it is extremely difficult to predict future price movements in a highly speculative market.
1. The Principle of Authority.
http://www.influencepeople.biz/2009/04/authority.html