Post
Topic
Board Speculation
Re: Road to 100k?
by
Mate2237
on 23/05/2024, 17:34:22 UTC
And since 2022 experts were predicting that bitcoin will hit $100k in this season and the way the movement of bitcoin, it might hit the "Road to the $100k" and the end of the year or the first quarter of  next year.

I find appeal to authority to be problematic in any argument.

To me, it seems better to argue why something may or may not be true, instead of generally proclaiming that "it must be true because 'experts' say so."

Sure some folks are smarter than others, and some folks have better logic, but it seems to me that it is likely better to refer to your authority folks specifically or refer to what they said (or might have had said) or substantively back what you are saying rather than proclaiming "experts say."
The funny thing is whether an expert or not, in no way can they affect the price to increase to such value. Everyone is entitled to give their speculation, experts from reading charts and those who just say so because they feel like it must happen. There is no assurance it will, but definitely it will with no time frame given, it might happen any moment from now even if it takes months but definitely we are going to see the price hit $100k.
Really you have said it all. Whether experts predict the price to hit $100k or not, people must predict because prediction is one of the factors in the cryptocurrency market. As you said people analyse the chart to give their prediction and some only predict how the market will be in the future. I can still remember one of my local board member, predicted the rise of bitcoin last two years when bitcoin price was $16k and he said the price would hit $25k within one month and really it happened.

Speculation is part and parcel in bitcoin