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Author Topic: Famous Crypto Person warned of Bitcoin crash in Tweet to Elon Musk  (Read 261 times)
Quidat
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June 11, 2021, 09:55:22 PM
 #41

If enough people are making predictions, there is bound to be one that nails it on the head.

That's just how statistics works - it's not some fancy algo that they have that they're peddling for a few bucks that is doing the work. It's luck and to some degree, common sense.

Everyone can see that BTC was on an unsustainable trajectory near the tail end of April, and resistance at $60k was extremely strong.

Don't ever believe in the notion of deterministic predictions - they are just gimmicks that marketers try to get you into believing. Don't fear his bottom predictions either for the same reason.
It is the classic “even a broken clock is right twice a day”, when we have millions of predictions about what the price of bitcoin is going to do during the next weeks, months and years then someone is bound to be right about what is happening just by luck alone.

And this happens everywhere, there are traders out there that believe themselves to be geniuses but that they were just lucky as the number of traders in the markets dictate that even a few winning traders have to appear even if their strategy is not a winning one just by chance alone.
Non surprising that if someone do able to predict the right price on the said specific time then they would call themselves as pros and when they do mistakenly predicted on the price then they would say that the market is way too unpredictable or volatile. There would be always a reason behind those
words and when it comes to prediction then we are all just the same it is just there are people whom do really make use of their popularity to make
their calls a bit ahead of others because of the popularity that they had but actually it doesnt really make much difference at all.
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