Here comes the New Year! Please stop irresponsibly predicting cryptocurrency prices!
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Quick Take
- Predicting cryptocurrency prices on a short-term horizon is generally used for personal attention growth hacking
- While low cost to the predictor, these predictions by public figures are irresponsible, as they encourage speculation by retail investors
- The vast majority of recent cryptocurrency price predictions were wildly wrong
- It is time to stop making predictions (guesses) and time for the media to stop covering them
Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the editorial viewpoint of The Block. Making short-term price predictions regarding Bitcoin or any other cryptocurrency is a common occurrence on social media. In fact, it is surprisingly common amongst many widely followed and influential […]
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