"Experts"
I honestly don't know why I keep on reading these analysis, they are literally a waste of time. I mean, it does not take an expert to assert that nobody knows where prices are going to go, and the vague timelines are just an indication of the fact that they really know nothing, but need to continue pumping articles nonetheless.
At the current trend the price could either go above 4000 and rally some more bullish momentum, or drop to 3800, thus confirming that we are still in the bear market.
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In other news, the water is wet
I'm sorry, but who keeps on paying these people to write the analytical drivel that at best is only an example of how to format an article. Of course I know that short term anything is possible, of course I know that we could go either up or down, but why does saying so take 2000 words? That is the enigma here, or the "skill".
I have to ask: Who is an expert? But in the whole sense of the word, like you would talk about a Doctor who can diagnose a medical problem for example. Who? I trust that you will, just like me, find yourself going through all the leaders of thought and find them flawed too.
Economy != Science
I think this is why we are so confused, because we think sometimes that Economists are scientist, that they can just like mathematicians, know how write the perfect formulas that will outline the outcome of monetary implementations.
In the world of cryptocurrencies, we could say that "the experts" are nothing more than crypto-economists, but just like their counterparts, they are money philosophers at best, and can only draft ideas that hopefully predict human behavior.
One could say without a doubt that being an economist is closer to being a sociologist, with a heavy dose of math. Math, mind you, that is used to "guess" what will happen "if" conditions are met, having those conditions and/or situations be flaky prophecies.
The idea however is to refine systems of incentives through conversations, and partial implementation at times, so that these hypothesis can become theories and/or best practices. This, however, does not trump the possibility that a theory can become outdated and irrelevant when external factors come into play.
Crypto Experts?
I propose to you there is no such thing, there's just a group of best guestimators, celebrity type figures, twitterinos of note, etc. Nobody, and I do mean, nobody can truly tell you how things are going to play out, when the bear market will end, etc.
The smart move in my opinion is to step away from those echo chambers, to walk away from the people who scream X coin to the moon, and stick to the projects that make sense only. Projects with communities, with foundations and the best system of incentives. Does this guarantee anything? Of course not, but it's not about guarantees, it's about not taking stupid risks.
The real 'crypto experts' are not out there prognosticating, they are quietly building the technologies that will reshape the world, and quietly building stake in the tokens that run (or run on) the most promising technologies.
I can say without a doubt that my Economics degree was issued by the College of Social and Behavioral Sciences. Because at least the University of Utah was honest about where Economics belongs.
One day the markets are crashing the other day they are on a rally or when they are on a rally they trash talk it lol.
The same thing happens in the stock market and billions of dollars are made from simply trying to predict the markets and write up/ boardcast news about it.
People love it but 95% of the news is garbage however there is some worth wild news that can be acted on to make an educational guess on your next picks.
Preach son! It is irritating seeing the same type of drivel being thrown out there....hoping for something to actually eventually be right. I used to read em but now I don't even bother. When I see the headlines I just scroll past em.
ha ha ha priceless.
man i’m not smart enough to understand the experts. i understand things like....
can i actually use this coin or token? lol
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Im glad to have come across your post and I agree.
In the fiat stock market, there are market analysts who have very well paid salaries to "assist" with pre-determination of market movements.
Having said that, the majority of these analysts do not attempt to run their methods on cryptocurrency, maybe BTC/USD at a push, however, FX street refrain from too much analysis and rely on a confluence detector which is pretty much congestion zones in the market order book.
In the markets you should be taught that technical analysis is only 1 of many factors to offer assistance, we need to consider market psychology, economics, fundamentals, client sentiment and more.
To finish off, you are totally right, nobody knows, but all we can do as traders is attempt to make more profits than losses.
Dont let your emotions cloud your judgement. Learn, Educate and Understand where you are putting your capital.
That picture perfectly exemplifies your point. The unique appearance of the Bogdanoff's has created an ongoing meme of their being extremely powerful and wise overlords who command heads of state and dictate policy.
Based on nothing but their appearance. Most experts are the vision of what their adherents expect an expert to appear to be. Speak the words, dress, and consider the factors the consumer reckons an expert would. We spend but little time considering actual expertise beyond a brief blurb, a subtext on the talking head's profile, but seek counsel of those that look like experts to us.
Also, I laughed.
Thanks!
No experts can exist in Cryptocurrencies yet as they have yet to be defined as the assets and projects themselves are still too immature to have deep price discovery. While some, like exchanges, can approach valuation processes given the public volumes on the exchanges; most, only have a valuation given the supply and demand at any point in time. Not even the best chartist could call themselves experts as it is only part of the story.
Actually before i use to think there is crypto experts but the more i grow deep in the crypto world, i discover there is none
Excellent review @meno and you are right, you need to try to think with your head and not waste time on different experts!
IMO, TA can always give you a good view on decisions-taken approach besides the fundamentals. Both are complementary and needed.
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