Friday, July 1

Reasons and Predictions: Why is the price of Bitcoin falling? By CoinTelegraph

© Reuters. Reasons and Predictions: Why is the price of Bitcoin falling?

The markets fluctuate. The price rises when there are more buyers than sellers. And it goes down when the opposite happens. Buyers are essentially optimistic. And sellers are essentially pessimistic. The secret is to buy low and sell high. For that reason, the seller thinks they have reached the top. Of course, the decision to buy or sell does not always obey the rational order. In most cases, emotion dominates the investor’s life. Let’s talk about the price of, the possible reasons for its behavior and the difficult art of making predictions.

The firm PlanB, which has a very loyal and devoted following, predicted that “in the worst case scenario” the price of Bitcoin would be $ 98K for the month of November. Ouch! Right now, Bitcoin is struggling to stay above $ 50,000. Obviously PlanB got it wrong big time here. This server said, a couple of months ago, that Bitcoin was very likely to break its all-time high of $ 64K before January due to the year-end trading and financial boom. Technically, that maximum was broken. But the party did not last long, because then we fell back below the maximum. What happened?

Read on: Bitcoin: Do we need Warren Buffett? In the first place, the probable is not a fact. We can follow a trend and do some projections. But these projections cannot include unexpected events. That is, probability does not cover exceptions very well. My personal projection did not contemplate the omicron variant, the increasing persistence of the anti-vaccine movement and the announcements (and rumors) of a change in monetary policy (USA). These changes change everything. A few months ago, the data suggested that the odds were on the bullish side. Now, the atmosphere is much more mixed.

Read the full article on Cointelegraph

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