Quote from: stompix on July 29, 2021, 11:10:25 AM

Quote from: Liamttw on July 29, 2021, 06:52:48 AM

But bitcoin price fluctuations are largely affected by technical indicators rather than basic events.

Common, how many times does it takes for all indicators and for millions of TA graphs to get thrown in the garbage to realize that drawing those and trying to predict the price is worse than horse gambling when you don't even know the horse's numbers? One tweet from Musk the price is all over the place, one fake news the same, nobody was able to predict those movements continuously even once but people still have this fetish of trying to pick random periods of times and random log graphics and find patterns like some cultist in the 3rd century tried to find the face of Jesus on every tree trunk or rock.

Every so-called analyst tries to find ways to claim that there are ways to predict the price because if finally everyone realizes it's impossible he will be out of a job!
But I do love the way they only came AFTER! the event to say, no this was normal, it wasn't because of that, but not before to tell the price will reach 40k in one week or 60k in one month or drop to 30k in 20 days.
Let's see if Warren starts again spreading her non-sense about taxation how those technical indicators will work.

I hate the both sides and that allows me to be very impartial judge in this fight. I am a long term investor and all I do is just wait for the time to arrive for me to sell, which is years years years down the line and neither TA one may do right now nor tweet for Elon could change that, nothing changes for me whenever one of them does something. TA could look like it is going to go down huge amount and I won't care, or show that it will go up a lot and I won't care, or for example elon could say bitcoin is awesome and I won't care, or he could say it is horrible and I won't care.

Hence neither really bothers me, I am just waiting for the time bitcoin reaches 200k+ and that's it. And since I proved that I am objective I could say that TA is a bit better because it shows the very very short periods correctly most of the time, but tweets and unexpected news are always unpredictable so they are not really there to help anyone.