PANews February 19 News, according to CoinDesk, Bloomberg Industry Research Analyst Mike McGlone previously predicted a decline in Bitcoin’s price but was criticized for being overly alarmist and posing too high a risk to investors. Subsequently, McGlone raised his Bitcoin downside target from $10,000 to approximately $28,000.
McGlone believes that based on historical price distribution, $28,000 is a more probable level and maintains that his analysis explains why investors should avoid Bitcoin and other risk assets.
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"Seeking a Sword by Marking a Boat" style coin price predictions go viral: the practical logic and flaws of mystical prophecies
Author: Frank, PANews
Whenever the market enters a confusing phase of stagnation, someone attempts to predict the next trend using a "cutting the cord at the boat" style of historical retrospection method. In such circumstances, people often see from these theories and charts that history is repeating itself, and seem to automatically overlap and verify future market movements with a certain period in the past.
This coincidence appears to have a magical effect and is often verified. Some bloggers claim that the accuracy rate of this type of prediction can reach 75%~80%.
Does this "cutting the cord at the boat" style price prediction that repeatedly goes viral on social media actually help the market identify phases, or is it packaging noise as prophecy?
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