Price predictions are nothing more than self-fulfilling prophecies at best, and nothing to constantly post about - Cryptocurrency Reporters - A Light To Cryptocurrency World

Sunday, 15 April 2018

Price predictions are nothing more than self-fulfilling prophecies at best, and nothing to constantly post about


I keep seeing all these posts about BTC price predictions and whatnot. Over the last few days, there has been post after post about some talking head on TV predicting where BTC will go. The truth is very simple- no one knows. So where does self-fulfilling prophecy come in? If they say BTC will hit $25k, people listen. They’re on TV, after all. And every single Jimmy, Cindy, and Lucy think about possibly getting rich. So, they buy in. What happens when people start buying in? The price shoots up (i.e. December 2017). Therefore, making the possibility of BTC hitting $25k more likely. If the guy keeps his prediction to himself, does BTC hit $25k? Who knows? But, by talking to the masses, people who just want to get rich quick or make money in general, it becomes much more likely to hit that $25k ‘prediction’. It is, in someway, a type of FOMO. Basically saying, ‘BTC is going to hit $25k! You don’t want to miss out on this!’ I just don’t see how so many here don’t understand that. So, some dude with slicked back hair and a 3-piece suit was on CNBC...who cares?!? Is it good that crypto is getting advertised? Of course. It’s good for the space in general, and good for our wallets. But, let’s not act like these are the people we want talking about crypto (coming from a supporter of the concept over the coin), and let’s not believe every single word they say. via /r/CryptoCurrency https://ift.tt/2H2Znny I keep seeing all these posts about BTC price predictions and whatnot. Over the last few days, there has been post after post about some talking head on TV predicting where BTC will go. The truth is very simple- no one knows. So where does self-fulfilling prophecy come in? If they say BTC will hit $25k, people listen. They’re on TV, after all. And every single Jimmy, Cindy, and Lucy think about possibly getting rich. So, they buy in. What happens when people start buying in? The price shoots up (i.e. December 2017). Therefore, making the possibility of BTC hitting $25k more likely. If the guy keeps his prediction to himself, does BTC hit $25k? Who knows? But, by talking to the masses, people who just want to get rich quick or make money in general, it becomes much more likely to hit that $25k ‘prediction’. It is, in someway, a type of FOMO. Basically saying, ‘BTC is going to hit $25k! You don’t want to miss out on this!’ I just don’t see how so many here don’t understand that. So, some dude with slicked back hair and a 3-piece suit was on CNBC...who cares?!? Is it good that crypto is getting advertised? Of course. It’s good for the space in general, and good for our wallets. But, let’s not act like these are the people we want talking about crypto (coming from a supporter of the concept over the coin), and let’s not believe every single word they say.

I keep seeing all these posts about BTC price predictions and whatnot. Over the last few days, there has been post after post about some talking head on TV predicting where BTC will go. The truth is very simple- no one knows. So where does self-fulfilling prophecy come in? If they say BTC will hit $25k, people listen. They’re on TV, after all. And every single Jimmy, Cindy, and Lucy think about possibly getting rich. So, they buy in. What happens when people start buying in? The price shoots up (i.e. December 2017). Therefore, making the possibility of BTC hitting $25k more likely. If the guy keeps his prediction to himself, does BTC hit $25k? Who knows? But, by talking to the masses, people who just want to get rich quick or make money in general, it becomes much more likely to hit that $25k ‘prediction’. It is, in someway, a type of FOMO. Basically saying, ‘BTC is going to hit $25k! You don’t want to miss out on this!’ I just don’t see how so many here don’t understand that. So, some dude with slicked back hair and a 3-piece suit was on CNBC...who cares?!? Is it good that crypto is getting advertised? Of course. It’s good for the space in general, and good for our wallets. But, let’s not act like these are the people we want talking about crypto (coming from a supporter of the concept over the coin), and let’s not believe every single word they say.

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