Many of these so called crypto media outlets are just regurgitating what some social media influencer has “predicted” as their price outlook. Its nauseating, are they so desperate for content, and bereft of ideas that they just tap away on their keyboards like an army of neuro-deficient zombies. These articles always report, “So and so with X number of followers/subscribers says X coin will be $ at some undefined point in time.” Have an original thought for once, or don’t publish… it’s really that simple. It’s become so formulaic that it is probably written by AI bots like GPT-3.
Enter last year’s biggest crypto-celebrity Mr. Gox the crypto-coin choosing hamster that was so popular last year because everyone fundamentally knows this business of “predictions” is bullshit giving the edge to a small furry rodent to make better picks than the “experts.” Humans seem incapable of admitting they don’t know shit about fuck. All these preening moon bois are strutting about acting like they are oracles of crypto wisdom when in reality they’re just throwing darts in the dark. No one knows, the markets are subject to the laws of chaos and are inherently unpredictable. Weather forecasting is a good parallel, looking a few days out can be informative but predicting the weather beyond a handful of days becomes more…chaotic… and trying to predict the weather next December? Crypto like the weather exists within a cone of uncertainty, a probabilistic set of potentialities. Anyone touting a certainty is either a moron or at worst a charlatan.
But! You say what of technical analysis (TA)? Yes, all well and good, continuing the aforementioned analogy chaotic nature of the weather; TA done well fulfills the role of a weather scientist where some short horizon predictive capacity is possible. TA however is not infallible since everyone is looking at the same charts and some predicted market moves may not play out due to the whales. Remember that a vast majority of crypto price movements are executed by a small cabal of players. Lately there seems to be a trend of market players liquidating silly retail traders engaging in risky leveraged trading. Reading charts at times can be akin to reading tea leaves to predict the future. However, TA done right can go a long way to illuminating the possibilities that exist in the market. Pure TA takes on an agnostic analysis of the market considering it through the lens of math and stripping out the macro picture.
Be skeptical fellow cryptonauts don’t get sucked into the fantasy of price predictions they are nothing more than a siren’s song kindling the greed and stupidity that will lead many to be dashed upon the rocks of financial and crypto ruin. It’s easy to fall into the trap as it triggers a deep fear in the amygdala that if we will sell prices will then rise further. That’s why it is essential to devise a plan ahead of time and be comfortable in executing that plan, if prices continue to rise then so be it, don’t get swept up into the hype and end up holding a bleeding bag of shitcoins.
>>> Anarchiss <<<
Posted to my Publish0x blog as well