Topic: Should we rely on prediction? - page 2. (Read 1827 times)

But come to think of this, I don't think this is a nice approach as far as investment is concerned. I do agree with you that bitcoin predictions are often based on extensive analysis but they are still just predictions. Even the most well informed analysts can get things wrong some times and you have to keep in mind when investing in Bitcoin that the price is extremely volatile and even if the predictions are right, the price could still fluctuate wildly in the short term. It's therefore very wrong to consider investing using someone's analysis without having to do your own research. Some of these analysts have no concrete evidence to support their analysis and it some times turn out to be a deception while it some time play to their favor.

we can use predictions because there are tons of them and almost everyday there are new releases but the problem is can we do really rely? nope because none of those are concrete and correct.
better to use your own analysis and add some instinct to see what comes yourway .
but for now dig more understanding first , specially the volatility and the consistency ,
bitcoin is safe but if you can afford to keep it holding longer time.

We should be careful when checking the price predictions from different experts who give us different values of the bull market target. Most of the time these targets are not realistic and are very high and the prices does not reach during the bull market. Like in the last bull market people were saying that bitcoin will reach 100,000$ but it never reached that target. Those who were anticipating this price target got stuck and did not sell.

The whales uses these high prediction bitcoin price as a trap to influence the retail not to sell early.

I prefer investors to only rely on their strategy to make better profit so that if you lose, you only have yourself to blame and when it comes with a huge profit you know is all your doing.
Is really hard to see investors not looking at predictions and many base on some of these YouTubers who do things just to promote their channels and they get their predictions wrong.
No matter how high or low Bitcoin is, it always attract investors and at this point I feel many would continue buying more.

You are the ones who would really be responsible with your actions and its true that no one really forces us to follow those people or signals that been given on which it would really be always falls down into your own decision whether you would really be following and taking on the same path or would really be just simply skip and would stick with your own analysis on which we do know that it would really be all according into our preference. The one you should be blaming on the time that you had done on following someone none other but "you". You wont really be that so dumb not to know on what are the things that you've been doing.
Its true that you arent that forced to follow on which you do have the rights on blaming someone just because you have lost a certain position?

If you dont like for these things to happen then you should really be that sensible towards into your decisions and never ever make yourself that consider on following someones decisions.
If you do see that it is really something considerable on trying out to apply it into your own then this is the time that you would really be making out such thing.
We are all speculators on here on which it would really be just that normal that mistakes are really that happening yet no man or trader does have that 100% winning trades
which we know that it is impossible.

This is very true. If we use the DCA strategy we will not worry about the price because we are investing in Bitcoin for the long term and of course the target we want is also bigger for the future. The dca strategy will eliminate feelings of doubt about the many predictions that appear in various media, because we believe that this four-year cycle will definitely repeat itself in the next few years.

So our focus is only on buying bitcoin within a certain period without caring about the current price of bitcoin because our focus is only on our investment target. Most short-term predictions are always wrong, but long-term predictions are mostly right, at least almost.

All that is conveyed by price observers is that they provide a purchase option but not an obligation and of course it comes back to us in the end whether we want to follow their advice or stick to our own policy for participation and always pay attention to prices carefully before buying because bearish movements if we pay attention tend to be relatively short and sharp. Meanwhile, bullish movements take time to build and develop.

January 2024 is the most awaited moment.

Especially predictions on bitcoin. It's true that not all predictions are correct, but most of the predictions from experts are close to correct. So it is not wrong for us to continue to follow the predictions of experts while analyzing it ourselves so that we receive more information so that we make decisions that are not wrong in investing.

As many experts predict that in the next two years Bitcoin will reach a new ATH, of course they predict this based on the history of Bitcoin itself. I have a passion for buying BTC because I read a lot of predictions from experts in the field. It's not completely accurate, but there's no harm in listening to lots of predictions to add to our own insight.

It is quite difficult to understand the situation for the crypto market not to be stable faced with the reality investors investing in bitcoin futures are reaching high prices. If you can correctly predict what the price of bitcoin will be tomorrow you can go long or short or simply trade money. To a certain extent yes but certainly not with reasonable certainty and high certainty. There are some factors that can be taken into consideration when trying to predict the future price of bitcoin.

If you just want to maintain your DCA on Bitcoin, you actually don't need to worry about prices or price predictions in the market. Because you can do DCA at any time if you are not really focused on selling it at a certain time or in a certain cycle, but if you want to follow a four year cycle with the hope of being able to sell Bitcoin at a higher price after accumulating it using the DCA method, that clearly makes you to see and read several predictions that might be a reference for you even though they are not one hundred percent correct.

Even though the predictions are not one hundred percent correct, at least we have a reference to look at in the future. Like the recent rise in Btc prices indicating not only a temporary rise but also a good start to a potential larger increase in the future. Additionally, predictions are usually based on cycles, and we've been through several cycles and the predictions were almost spot on. I personally benefit from following trading predictions because it gives me hope to keep dca on bitcoin.

When you are just new into this market or simply you do have plans on becoming a trader then it wouldnt really be that a bad idea that you would really be needing to have to look into those kind of speculations
and as long it would really be that just for free then it wont really be that a bad idea on trying out to learn something from it until you would really be able to make your own and make out some comparison
and trying out to determine on which is better or something that you could really be able to apply. It would really be just that normal that this market is really that been flooded out by lots of
speculations around on which it is really just that depending on you whether you would really be that applying those or would really be that relying on your own.

Also, it doesnt really give out that kind of feeling in speaking about regrets because you do know that you are making that kind of decision which is basing on your own
not on others. Regrets do usually happen when you do follow someone but ends up on loss.

What I appreciate most in what you write is for people who are following others to also do their own research, which is the best advice anyone could give to struggling or new traders. Personally, I do not dissuade traders from gaining from the professional ones if they see themselves as inadequate, and I tell you, there are some very good analysts out there only that people might not get to know them easily as the best ones I know then didn't have their channels, neither did they trade visibly to the social space but were only contractors by banks and Forex brokers, I was only fortunate to know them.

I learned a lot through these people even as they gave their daily signals and commentaries about the market and I must say that most of them made me what I am today in trading as I've been trading on my own for about a decade ago without the help of others. This is why I encourage people to find help if they are not yet able to stand on their trading feet, it's nothing but as they use others' work, they should develop themselves as well. Before they use the work of others, they must do their own research and be sure that the source of their signals or information is a very good one.

The reality on Bitcoin is that its investors should predict but should never to rely on any of the predictions because Bitcoin would never lost its volatiles potential due to considering its invertors at a winning or loosing just as the nature of gambling.
Bitcoin can be valuable both on the lower values or higher values because it could either attract more investors when it is low or profiting its investors at when it is high.
So... I would live to say there is absolutely advantages on whatever case or nature Bitcoin value is rated.

Predictions might be right or wrong and you'd agree with me that most of the predictions have cost investors (as in losing more than they gain), seeing predictions coming from these experts as you call them, they just say it and expect people to follow their predictions, at the end it won't get close to what Bitcoin price is giving.
To me these experts are trying to play god in the crypto space, is ok but they shouldn't make their predictions to look like it must come to past base on past events or whatever. If they keep doing that it will some how prevent some investors to find it hard to make decisions, is best to say the prediction is 50/50 thing.

Instead of predicting price, we should look at the bigger picture. What will make price get to certain level that you see in the charts probably through a trend line or moving averages? As far as I'm concerned, the fundamental is more of a force to reckon with than even technical analysis.  For example, the news of ETF approval can send price of Bitcoin to the moon within a very short interval of time. So while predicting price using technical analysis tools might seem easier and more fascinating,  fundamental is actually what moves the market.

the fact that you are seeing prediction flying here and there is a strong message that you should accumulate more bitcoin and hodl it. There is no two ways about it. The prediction might be wrong or right but have you considered a situation where the price of bitcoin goes that high as soeculated but you didn't accumulate a single bitcoin? Also know that what you call speculation is a product of an in-depth analysis from expert in the industry and it's not just a random statement from anybody.

Predictions about the price of Bitcoin are made every day. An opinion should be formed based on the reasons given by those who make predictions based on a reason. The decision whether to invest or not should be a personal decision. I think it is a big mistake to invest based on the opinions of others and without doing your own research.

Market forecasts and the fundamentals on which these forecasts are based should be examined, analyzed and an investment decision should be made. Otherwise, daily forecasts will confuse the investor.

All those prices mentioned are just speculations and are not reliable, although sometimes these predictions actually happens but they are not at the moment dependable, we have all witness the bearish movement of Bitcoin for a while and we are all expecting the bull.

In anticipation of the bull run, all these prices will definitely guard us to have possible expectations and know how well to plan what we can risk aswell, but we shouldn't make decisions base on these predictions but it's advised you always DYOR, but during the next bull run, expect something massive so from now start preparing for it.

And depend on whos sending those predictions and speculations because if those are just a random guys that trying to share their luck then indeed that we must not deal with it seriously .
though we can check their sharing if valuable and can use as pattern to our choices .

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In my own opinion (and as what i am using also) that I also tried to add my instinct from my market analyzation and yes for sometime I have gaining though its not that biggie but for me this is worth using .