Quote from: EarnOnVictor on Today at 10:00:54 AM

Quote from: Cryptoprincess101 on May 26, 2024, 08:36:25 AM

Quote from: JayJuanGee on May 22, 2024, 06:45:02 PM

Quote from: Mate2237 on May 22, 2024, 06:07:13 PM

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."

Exactly, that's the most reasons why a lot of investors got misled is because of this quoting of what 'experts says' or what experts does like who is an expert in the first place? Does it mean they don't make wrong investment decisions sometimes? It is better to do more research about that particular thing you feel an expert did and became successful and even if you want to do same thing or you want to apply same strategies but you don't need to do exactly the same way they did theirs.

I've always preached against the blind followers on this forum and I am happy that another person is supporting this view. It is not a misconception that most people are gullible, and for this reason, you should not be surprised at all, but rather expect more gullibility. But I thank one thing, and that is Bitcoin for putting them to shame many times that it is now a bonafide asset in the mainstream of the financial market, it can never be behaving as illiquid (that can be controlled with some announcements/popular predictions and a few bucks like before) or in a way that is not dynamic like a reasonable market.

Those two characteristics might not mean anything to you but they mean a whole lot to me because any market you predict cheaply and always get right all the time is no market but a joke. This is what they expected of Bitcoin and the more reason why they are emboldened, especially when it is rising, but not knowing that the market is dynamic. They should know that it is no longer business as usual. I can only encourage Bitcoin traders/investors to be up and doing, they should never be too trusting but learn and develop themselves so well about the speculative aspect of it, and I am sure they will laugh in the end.

My original criticism about appeal to authority was not ONLY a criticism of actually having some authority to appeal to, yet also merely making a claim about what "experts say" without even naming the supposedly specific experts and/or providing some kind of a link rather than just vaguely making a statement and then saying "experts say" as a back up.. even if the statement might have had been somewhat reasonable, it still was not backed up by much beyond some vague assertion that some supposed experts are saying that thing.

Also, when we are talking about what the BTC price is going to do, sure there are likely some folks who are more expert on the topic than others, at least in terms of having some reasons for suggesting that they know where the price is going, yet even with that, bitcoin price movement is based on a variety of variables and some of which are unknown or unknowable, so the best that can be made would be some kind of a probabilities of good or bad chances that the BTC price might breach certain thresholds within some kind of a designated period of time.