[2018-05-17] Bitcoin Price Fails To Accomplish Predicted Rally

[Karartma1]

My note: becoming really tired of predictions. They are always wrong

Bitcoin’s (BTC) price has gone down around 10 percent this week since crypto conference Consensus ended yesterday, May 16, despite predictions that the event would cause the crypto markets to skyrocket.

Fundstrat’s Tom Lee, who had accurately predicted a crypto price rise in the wake of US tax day, had used past price spikes after the crypto event to predict a rally “even larger than past years,” according to Bloomberg:

    “Bottom line: We expect BTC and cryptocurrencies to behave similarly to prior years and rally during Consensus.”

Read more https://cointelegraph.com/news/bitcoin-price-fails-to-accomplish-predicted-rally-following-nyc-crypto-conference

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[Carlton Banks]

My note: becoming really tired of predictions. They are always wrong

More often than not, predictions of events influencing price are just market manipulation, and the news outlets are just as guilty as the people adding their whispers to the rumors. This case could easily be such a contrivance, I'd never heard of the Consensus conference until this year

[Hamphser]

Actually prepared for this matter because not all times the trend or scenario would repeat always on every year basis yet there are lots of factors which do mainly affect why price did pump after the consensus but opposite thing do happen to the market.I actually laughed on the meme which is posted in the article link above which is part of the reality.We do hope the same thing and now we forgot this this is very an unpredictable market.Anything can happen when we least expected.

[figmentofmyass]

My note: becoming really tired of predictions. They are always wrong

More often than not, predictions of events influencing price are just market manipulation, and the news outlets are just as guilty as the people adding their whispers to the rumors. This case could easily be such a contrivance, I'd never heard of the Consensus conference until this year

it's just an old wives' tale, like the "weekend dump." people think crypto should pump into (and during) major conferences, because of hype and what not. but these conferences are just industry circle-jerking; nobody in the real world cares about them. the attendees are crypto people who are already heavily invested. there's no rational reason why they should pump the price..... and they don't.

[Koadharber]

My note: becoming really tired of predictions. They are always wrong

More often than not, predictions of events influencing price are just market manipulation, and the news outlets are just as guilty as the people adding their whispers to the rumors. This case could easily be such a contrivance, I'd never heard of the Consensus conference until this year

it's just an old wives' tale, like the "weekend dump." people think crypto should pump into (and during) major conferences, because of hype and what not. but these conferences are just industry circle-jerking; nobody in the real world cares about them. the attendees are crypto people who are already heavily invested. there's no rational reason why they should pump the price..... and they don't.

This is what most people do think about that those people who do attend the conference might able to invest bigtime in crypto without even thinking the possibility that those who attend are already bag holders or already filled up their wallets.This question comes to my mind why price should be pumped out into these kind of events? Where would those funds came from?

[BitHodler]

Title is wrong. It should be Predictions yet again prove to hold zero value.

People should stop following all the stupid hype that doesn't lead to anything. Seriously, people were expecting a rally, but didn't do anything other than waiting for it to happen.

How is this rally supposed to be initiated without any effort or buying incentive from traders? It's like waiting for money to land into your pockets, but without actually putting any effort into it.

I am happy to see the price remain fairly stable just above the $8000 mark. It allows me to keep accumulating coins around the same levels with a fixed amount every 14 days with a part of my income.

[kjlimo]

Title is wrong. It should be Predictions yet again prove to hold zero value.

People should stop following all the stupid hype that doesn't lead to anything. Seriously, people were expecting a rally, but didn't do anything other than waiting for it to happen.

How is this rally supposed to be initiated without any effort or buying incentive from traders? It's like waiting for money to land into your pockets, but without actually putting any effort into it.

I am happy to see the price remain fairly stable just above the $8000 mark. It allows me to keep accumulating coins around the same levels with a fixed amount every 14 days with a part of my income.

But why can't I just read one article, take one action, and be rich???

[Slow death]

“Bottom line: We expect BTC and cryptocurrencies to behave similarly to prior years and rally during Consensus.”

of course we will not have the same increases we had in the past years because this year we have the regulations and many noises with governments that every day get out of their mouth the word "fight against money laundering"

This question comes to my mind why price should be pumped out into these kind of events? Where would those funds came from?

I did not even know about this conference, I heard it a few days ago and I asked myself the same question

[bbc.reporter]

My note: becoming really tired of predictions. They are always wrong

More often than not, predictions of events influencing price are just market manipulation, and the news outlets are just as guilty as the people adding their whispers to the rumors. This case could easily be such a contrivance, I'd never heard of the Consensus conference until this year

While others who make those predictions are just trying to look for some recognition in case they are correct.

But the thing I noticed is they are more correct in bear market predictons than bull market predictions hehehe. Why is that?

[Tylev]

My note: becoming really tired of predictions. They are always wrong

More often than not, predictions of events influencing price are just market manipulation, and the news outlets are just as guilty as the people adding their whispers to the rumors. This case could easily be such a contrivance, I'd never heard of the Consensus conference until this year

While others who make those predictions are just trying to look for some recognition in case they are correct.

But the thing I noticed is they are more correct in bear market predictons than bull market predictions hehehe. Why is that?

It seems to me that this is because the bear market is increasingly occurring than the bull market. The cost of bitcoin increases every year and therefore other factors influencing its price come into play. Now there are such persons as Mt. Gox from Tokyo, which do not allow further growth of bitcoin in price, the market periodically throws out new large batches of bitcoins and bitcoin can not normally grow in price.