Predicting about $420 in 24 hours, upper $400s by Thursday

[bitleif]

Lol the site didn't predict this. Nobody knew these news about PayPal would have such huge impact.. No, not even that site..

What if news does not move price like this? Also, are you sure that you fully comprehend the potential of a predictive learning algorithm?

As one who usually argues that long-term trends in BTC are not at all news driven: it's pretty obvious that THIS move was news driven.

Also, a price pattern recognizer may actually be good at predicting a market's responsiveness to positive news. But it will of course not be able to predict WHEN the news happens.

[intighet]

Lol the site didn't predict this. Nobody knew these news about PayPal would have such huge impact.. No, not even that site..

What if news does not move price like this? Also, are you sure that you fully comprehend the potential of a predictive learning algorithm?

As one who usually argues that long-term trends in BTC are not at all news driven: it's pretty obvious that THIS move was news driven.

Also, a price pattern recognizer may actually be good at predicting a market's responsiveness to positive news. But it will of course not be able to predict WHEN the news happens.

Cum hoc ergo propter hoc is a logical fallacy.

[K128kevin2]

I don't think this price change was news driven at all. There have been plenty of significantly larger news events that have had a smaller or no effect at all on bitcoin price. For example, Dish network or Dell accepting bitcoin, both of which are significantly larger companies than paypal. The Dell one in particular. To be honest, I didn't even know what news you were referring to - I had to go look it up.

[adamstgBit]

I don't think this price change was news driven at all. There have been plenty of significantly larger news events that have had a smaller or no effect at all on bitcoin price. For example, Dish network or Dell accepting bitcoin, both of which are significantly larger companies than paypal. The Dell one in particular. To be honest, I didn't even know what news you were referring to - I had to go look it up.

news doesn't effects price, poeple pressing buttons effects price.

news is just an excuse to press or to hold off pressing which ever button you where going in the first place.

[vanobe]

There's not long until Thursday when we find out if the second half of the prediction was right.

[K128kevin2]

There's not long until Thursday when we find out if the second half of the prediction was right.

It is still showing a small spike around wed/thurs but it is considerably smaller now. Doesn't seem to be predicting upper $400s anymore but we'll see what happens.

[williamj2543]

Hopefully it goes higher. Happy that it hit $435 today! Breaking 500 this weekend would be awesome. Can 1000$ be our christmas gift? What were we at last christmas?

[K128kevin2]

Hopefully it goes higher. Happy that it hit $435 today! Breaking 500 this weekend would be awesome. Can 1000$ be our christmas gift? What were we at last christmas?

Unfortunately predictions look to be pointing downward now =/ hopefully they are wrong though!