Friday, July 1

The Analyst Problem: Why Did The Predictions Fail? By CoinTelegraph

© Reuters. The Analyst Problem: Why Did The Predictions Fail?

Writing for the press in these times is not an easy task. If you write a critical article, they accuse you of spreading FUD. And if you write a positive article, they accuse you of promoting the FOMO. It is not uncommon for the person to already have their opinions well formed and only read the news for confirmation. This means that anything other than a confirmation is automatically rejected. In many cases, analysts play the role of sounding boards for preconceived audiences. In periods of greed, everything is optimism. In periods of panic, everything is catastrophe. Views and likes are obtained by giving the audience what they want. And objectivity? Thank you and goodbye.

In this postmodern world, popularity is more important than objectivity. People distrust CNN or the BBC. But strangely enough, he blindly trusts an anonymous source on Twitter (NYSE :). Form your Youtube views. Believe the rumors. Listen to conspiracy theories. But it dismisses all official and formal sources. Apparently a couple of documentaries is enough to understand anything. So social media is full of experts.

Let’s talk about the price predictions of. A few months ago, it was all optimism. And greed was through the roof. Naturally, most of the predictions were for at least $ 100K by the end of the year. In the first place, all this positivism was a direct reflection of the atmosphere that was breathed. In other words, the predictions speak more about the present than about the future. If we read everywhere that price is heading toward a certain target, that doesn’t necessarily mean that price will indeed be heading toward that target. What it really means is that there is a lot of greed (or fear) in the environment. Unfortunately, consensus among analysts does not always mean the expected results. In most cases, it is a sign of overbought (or oversold). In other words, the trend is about to change.

Read the full article on Cointelegraph

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Reference-es.investing.com

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