When Experts Get It Wrong: A Lesson from Today’s BTC Pump

[Zaguru12]

What are the criteria to qualify someone as a seasoned trader? Maybe because of his experience, educational background or what. Some of the predictions these people give are guesses that will either be true or false (after all a faulty clock would be right two times daily). If the prediction is right, they will use it for promotion. They will keep quiet and go into their shells when it goes wrong. I don't depend on anybody's predictions; there are enough resources to do my research.

Seasoned traders are usually traders with market trend experience and that’s what they actually use in their analysis, in as much as I will say they don’t outrightly just make guesses like they usually do make their analysis through many different techniques like fundamentals and mostly technical. For what the OP actually wrote i believed it was a technical analysis that was used to speculate the market because bitcoin had earlier tested the resistance twice and a third rejection would have made it to come for the support. But just like the trader I also was expecting if it was rejected we will go below $100k.

But this actually shows that the bitcoin market can never be predicted perfectly we can only have our speculations

[The Cryptovator]

Usually experts analyse some charts and history according to their experience. Sometimes they become true; it doesn't mean they always will be true. Instead of following them blindly, you can get experience from them. I don't bid based on experts' predictions; rather, I follow a couple of experts and learn from them what the next move would be.

I don't bid according to them; I trade according to my own opinion. If you bid according to experts, then most likely you will regret most of the time. I have seen most predictions are false. I follow them just to get quick notifications for the market updates. However, even your decision would be wrong in crypto, but when you decide yourself, at least you don't need to blame experts. You can explain yourself; it was your decision.

[gunhell16]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

You know, not everyone who speaks on social media platforms should be believed immediately, we should also look at what is really happening in the market, because most of it is also misleading.

that's why we still do our research first before interpreting what others say, we should have what is called self-reflection to see if there is truth to what we hear on social media apps because most of the time in this field it is always just media hype.

[milewilda]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

In the end of the day on which there's no one that would be able to predict on where the market is going, even if we do say that you've been here on this market for a decade but still it wont be making out some guarantee that you would be able to find yourself that making out some precise predictions from time to time. What matter most on here is that you could be able to sustain because no matter how veteral or professional you are but still you are prone into bad trades or analysis on which it causes up for you to lose money. Now as of this moment on which we are hitting that new all time high of Bitcoin when it comes into its price then its good to see that we had break that new one but of course we didnt made out such up some huge movement yet and might be seeing $115k soon. Considering now that we are on this bull run year then its not that shocking anymore. For those who do have that short position sentiment then they are wrong on this time. Liquidated? Of course you would be able to experience it out because trader decisions could neither be just that long or short specially to those who do made out some futures but for those who are making up some spot position then you would definitely be having that paper loss and same goes into those who are currently holding. There's always a lesson that you would be able to learn and made out some realizations that this market is truly unpredictable. If we do tend to look around and see up some sentiments then we arent that seeing some recent positive news or events that made out some effect into the current price movement on which this do shows that this market could move out randomly.

[Awaklara]

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Is the experienced trader's post finally deleted or attacked by his followers because his prediction was wrong?
Now you know that those who get the experienced label in trading can also make mistakes in making analysis. So who will you trust to determine your trade? That's why there are many suggestions here not to follow anyone's words, just use our own knowledge and abilities, and don't be influenced by what others say. They could be right or wrong. Maybe also just sharing speculation, not analysis.

[Asiska02]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

No one is perfect in this game of trading. The so called professional traders you can think of and can mention their names have one way or the other did a wrong prediction that have caused them to lose money. The best thing that does reduce the risk of them not losing too much is the stop loss they set. It is used to limit their losses and get to use their remaining balance to try on another trade after taking another analysis. To make a profitable trader is that you make more correct choices than the wrong ones, in that manner, the little set backs on some trades that didn’t go your way will get you to recover from the ones you made the right prediction. This is a continuous learning process, so don’t be surprised if wrong prediction from experts.

[JeffBrad12]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

These so called expert like to throw around random speculations, hoping one of them is right and will tell everyone about it and hide those speculation that are wrong.
So basically, you really need to discard whatever these so called expert are speaking because most of them either have ulterior motive or just pure bs.
Just believe in your own conviction.

[hyudien]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

They are also human beings who can make mistakes and of course they will not just guess market movements, I think this is normal in the crypto market and we all know that this is a speculative game, I think experts who share their analysis on social media are still needed because after all they share knowledge that can increase our insight but we still should not rely on other people analysis, we also have to do research in order to make good decisions.

[john_egbert]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

They are also human beings who can make mistakes and of course they will not just guess market movements, I think this is normal in the crypto market and we all know that this is a speculative game, I think experts who share their analysis on social media are still needed because after all they share knowledge that can increase our insight but we still should not rely on other people analysis, we also have to do research in order to make good decisions.

We just shouldn't rely on what they say outright - we need to digest the info they give and lay it on top of our own expertise - that way, everything would be alright.

[Strongkored]

Experience is not a guarantee that traders will always be right and beginners will always be wrong. Experience helps us to analyze the market so that we know when to open a position but the market may change direction because there are many playing in it. And experts are just names, they may be wrong even before May there were experts who said Bitcoin would fall deeper but the reality is different.

[JoyMarsha]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

This is a clear warning of not to follow the instructions given on social media by crypto analysts about the crypto market because some can be misleading and incorrect, making you lose out on an existing opportunity you are in, of hodling your bitcoin for the long term, and not to sell it at a price someone else advised, but sticking to your own analysis of the market that Bitcoin will bounce back if its price declines.

However, how does it feel for those who sold their Bitcoin because of what the crypto trader said, I think they will regret it by now that the Bitcoin they sold at $96k is around $110k today. They are not sure they will find Bitcoin below $100k till the bull run is over.

[Floxynice]

The truth is that Bitcoin can actually dip to 96k and can also pump beyond the price predicted by experts. Every expert is giving predictions based on their personal experiences on their Bitcoin journey. They may not actually be wrong; however, what they don't have power over is knowing the exact timing for their predictions to come to pass. I won't be surprised if, after this pump, Bitcoin dips to 90k, it is very possible.

Because I am beginning to understand how this works, I am not going to allow myself to FOMO. I still have a long way to go.

[Mahanton]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

This is a clear warning of not to follow the instructions given on social media by crypto analysts about the crypto market because some can be misleading and incorrect, making you lose out on an existing opportunity you are in, of hodling your bitcoin for the long term, and not to sell it at a price someone else advised, but sticking to your own analysis of the market that Bitcoin will bounce back if its price declines.

However, how does it feel for those who sold their Bitcoin because of what the crypto trader said, I think they will regret it by now that the Bitcoin they sold at $96k is around $110k today. They are not sure they will find Bitcoin below $100k till the bull run is over.

If you dont like on ending up on having those regrets just because you have followed someone telling you on buying or selling this and that then there's that high chance that you would be ending up on having that kind of  regret on the end if it turns out those advises and recommendations with such decisions turned out to be that a losing trade or having that negative. Its not that bad to take up some ideas or whatever their analysis that been saying but never ever consider on relying on them on which you would be basing up on what they have said and following them completely onto their decisions on which we do know that even on how veteran or expert you are on things but still it wont be giving out that guarantee that you can be able to make out that precise predictions towards this market which this isnt only talking about Bitcoin but also in other coins as well. We do know that not all of us would be focusing on Bitcoins price but also in other alternatives as well. We do know that this market is highly that unpredictable and there's no way that we can be able to predict on where it would be going. If you dont like on having the feeling of regret at the time that you do made out some investment then make it sure that you wouldnt be finding yourself be following them completely when it comes to investment calls. Experience could be obtained overtime and on the moment that you do know on what you are doing then you can make out your own decisions too basing up into the experience that you had get in the past. Its just that impossible that you cant be having that kind of progress as you've move forward or making up that active engagement towards this volatile space. It do just that really turned out that there are just that those individuals who are just that lazy on making up decisions and thats why they do end up on this kind of approach.

[justdimin]

This is a clear warning of not to follow the instructions given on social media by crypto analysts about the crypto market because some can be misleading and incorrect, making you lose out on an existing opportunity you are in, of hodling your bitcoin for the long term, and not to sell it at a price someone else advised, but sticking to your own analysis of the market that Bitcoin will bounce back if its price declines.

However, how does it feel for those who sold their Bitcoin because of what the crypto trader said, I think they will regret it by now that the Bitcoin they sold at $96k is around $110k today. They are not sure they will find Bitcoin below $100k till the bull run is over.

To be fair, we should all remember that they have as much information and data as we have, they do not have anything more. And that means, if I use it better, then I make more than them, and just because they are experienced, doesn't mean they will be 100% of times better than me, I could sometimes be right.

It's a tough world and I am sure it will be even tougher still, but we are not going to see this become an issue for the long term. Just ignore influencers and what not, and try to make more money with what you can learn. That way, you are not at the mercy of someone else, and you could make more money. I know it's tough, but it can be pretty great, we just need to be careful with what we have, and not repeat the same mistakes.

[Questat]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

You know, not everyone who speaks on social media platforms should be believed immediately, we should also look at what is really happening in the market, because most of it is also misleading.

that's why we still do our research first before interpreting what others say, we should have what is called self-reflection to see if there is truth to what we hear on social media apps because most of the time in this field it is always just media hype.

Exactly. Most especially in this present time where everyone wants to be famous in social media, even if it’s just made to hype, people will immediately believe as if they trusted easily the minds of strangers. In the end, everyone fall as a victim with a misleading information.

Research is always the key to verify any information whether it’s true or false. We aren’t made just only to believe, but we need to also seek things on our own whether those said things are true or just intentional lies just to create a hype.

[Botnake]

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

That’s totally normal. Even the so-called experts they’re not gods. They make mistakes too.
Although, they get it right most of the time, but that doesn’t mean they’re always spot on.

Look at those crypto "gurus" calling Bitcoin bullish or bearish... then boom, the complete opposite happens. But people still see them as experts, because at the end of the day, they’re human too. Mistakes happen.

So stop wondering. It’s all part of the game.

Everyone makes mistakes, most especially that we are human beings. So even those traders who keep doing the right thing, there are also some inevitable mistakes that they can’t get rid of, and that’s very normal for human traders. Everyone has its room to make it right and make it grow, so there’s no wondering why even seasoned traders end up committing mistakes, simply because no one’s perfect here.

[tvplus006]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

So he's not a good enough trader if he's so wrong about the market trend. But the problem is not that he made a mistake and his position was liquidated, but that those who trust him also opened short positions and were also liquidated.

[GigaBit]

I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.

Now, as we approach the end of the day, Bitcoin is pumping  already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.

It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?

Let me know your thoughts.

I think that no decision should be made based on information from social media. This is more likely to increase the amount of loss than profit. There are many knowledgeable analysts in crypto who cannot predict correctly. What they predict later turns out to be the opposite. That is why selling your holdings based on someone's decision is not a suitable decision. The price of Bitcoin can increase or decrease at any time, but for those who are long-term holders, investing in Bitcoin is definitely profitable. If the price decreases after buying Bitcoin, it is better to hold it instead of getting excited. Till date, none of those who have held Bitcoin are regretting it, but most of those who have sold they regret the most.

[shinratensei_]

Experience is not a guarantee that traders will always be right and beginners will always be wrong. Experience helps us to analyze the market so that we know when to open a position but the market may change direction because there are many playing in it. And experts are just names, they may be wrong even before May there were experts who said Bitcoin would fall deeper but the reality is different.

Honestly if the so called expert keep getting the wrong prediction then they aren't expert at all and shouldn't be called one.
I've seen so many predictions to know that most of self proclaimed expert are no expert, just trying to get benefit from the name, most of them don't even trade.

So anybody hearing expert's opinion regarding future price of certain investment, better take it with grain of salt because even the expert actually has no idea.

[slaman29]

Just because the guy is proven wrong doesn't mean he wont't be right later. And just because others are right now doesn't mean they won't be wrong later.

Experts are not supposed to get it right, they are supposed to know the risks and probabilities of getting a call and supposed to get it right more often than wrong, thats all.

But you already knew that experts given the headlines aren't how you should be trading right?