How to predict the price of Bitcoin

[BitcoinBarrel]

I've come up with a simple method for predicting the price of Bitcoin to help newbies make money trading. You might lose some BTC at first that's why you should start small. It requires you be brutally honest with yourself and past mistakes then being willing to adapt.

Step 1. Before you move forward, think long and hard about whether or not you think the price is going to RISE or FALL in the amount of time it takes you to buy and sell the Bitcoins, maybe 1-2 weeks or a month.

Step 2. If you think it is going to RISE then BUY, if you think it is going to FALL then DON'T BUY or SELL.

Step 3. Wait a couple weeks and see if you're right.

Step 4. If you were right then goto Step 1 to make another prediction.

If you were wrong, then go to Step 1, make a prediction and do the OPPOSITE of what you think you should do because obviously you don't know how to predict the price of Bitcoin. 

[Kramerc]

I've come up with a simple method for predicting the price of Bitcoin to help newbies make money trading. You might lose some BTC at first that's why you should start small. It requires you be brutally honest with yourself and past mistakes then being willing to adapt.

Step 1. Before you move forward, think long and hard about whether or not you think the price is going to RISE or FALL in the amount of time it takes you to buy and sell the Bitcoins, maybe 1-2 weeks or a month.

Step 2. If you think it is going to RISE then BUY, if you think it is going to FALL then DON'T BUY or SELL.

Step 3. Wait a couple weeks and see if you're right.

Step 4. If you were right then goto Step 1 to make another prediction.

If you were wrong, then go to Step 1, make a prediction and do the OPPOSITE of what you think you should do because obviously you don't know how to predict the price of Bitcoin. 

Flipping a coin yields better results. Heads - you buy, tails - you sell. No emotional attachments to cloud one's judgement.

[MatTheCat]

Flipping a coin yields better results. Heads - you buy, tails - you sell. No emotional attachments to cloud one's judgement.

Clearly the organic market forces want to push Bitcoin lower yet there are powerful hands in this market determined to hold Bitcoin up, yet other powerful hands who are flash dumping several thousand BTC onto the market all at once which causes the price holding bot algorithms to be broken resulting in a market slide which is saved by immense buying power kicking in at vital support levels. Perhaps even the same strong hands which are holding the market up, are also responsible for the mass flash dumping, in which case, I can in absolutely no way shape or form, make any rational reliable prediction on what Bitcoin is going to do next, unless I can somehow establish telepathic links with the entities who are making or preventing this market from moving.

Yup, it's a clear coin flick or if you don't fancy risking half of your 'disposable' capital on a high risk asset based on a coin flick, simply sit it out for now.......which is what I think most sensible money that hasn't already gotten into Bitcoin at lower prices, will be doing. If it isn't doing that, then it aint sensible money.

[yayayo]

Clearly the organic market forces want Bitcoin to remain stable.
That's why I panic hold.

The one and only strategy for bitcoin: HODL!


ya.ya.yo!

[MatTheCat]

Clearly the organic market forces want Bitcoin to remain stable.
That's why I panic hold.

If by 'organic forces' you mean venture capitalists trying to win political and financial support for various Bitcoin related business plans, to whom a stable Bitcoin price is hugely important, then I suppose you are right.

[Dalmar]

Learn technical analysis.. in the old days it didn't apply much to bitcoin, but now more and more pros are in the field who follow it and thus becoming a self-fulfilling prophecy.

[yayayo]

Learn technical analysis.. in the old days it didn't apply much to bitcoin, but now more and more pros are in the field who follow it and thus becoming a self-fulfilling prophecy.

If everyone does it, potential gains from it are eliminated, because everyone wants to be the first to profit, eliminating potential opportunities from the very beginning.

ya.ya.yo!

[Dalmar]

If everyone does it, potential gains from it are eliminated, because everyone wants to be the first to profit, eliminating potential opportunities from the very beginning.

ya.ya.yo!

Even in stocks a lot of people don't use it, but the pros still make money from ''dumb money'' that is always behind the trend. There's more 'dumb money' in bitcoin than most stocks.

[yayayo]

If everyone does it, potential gains from it are eliminated, because everyone wants to be the first to profit, eliminating potential opportunities from the very beginning.

ya.ya.yo!

Even in stocks a lot of people don't use it, but the pros still make money from ''dumb money'' that is always behind the trend. There's more 'dumb money' in bitcoin than most stocks.

Don't think so. Everybody who's long in bitcoin is definitely smart.And the longterm trend (against fiat) is up.

HODL is the secret.

ya.ya.yo!