Post
Topic
Board Speculation
Re: How to predict Bit coin price.
by
bitgolden
on 17/10/2019, 15:38:51 UTC
It could have been a coincidence, how many price predictions do you think are made every day on the Internet about the possible trajectory of the price of bitcoin? It is impossible to know but even a number as low as 34000 predictions per day means that each month there will be one million predictions, when you have such a huge number it is reasonable to expect that some people will guess the correct price of bitcoin, this is similar to what happens with lotteries in which there is a low chance of winning but someone will have to eventually win it.
Those who are making those predictions are just doing more of intuition prediction, which is why they usually do not back it up with facts when they make the prediction, no picture or analysis to back their values up.  The volatility of bitcoin really makes it very difficult to predict the price of bitcoin.

I have seen where people predict that bitcoin will be in uptrend in a short period and then, we see the down trend as response. Someone recently just predicted that the value of bitcoin will reach $16000 by the middle of this month, this is middle already here and the price has not even reached $10k, not to talk of $16k, and the so-called speculator claim to be a guru with analysis. The best way to predict bitcoin is just to know that the value will increase and have a goal for it.