Ugh Derp
It's not a new phenomenon to see people blurting out their predictions to all kinds of stuff.
The weather, the score of XYZ sporting event, stocks, Bitcoin.
Everybody can just go out there and tell the whole world what they think is gonna happen.
It's gonna rain tomorrow because I didn't finish my food. Bitcoin is gonna hit 34 million $ next week because well look at the charts and China and also, I took a big load of crap this morning, so coffee, can only mean one thing: Bitcoin to the moon.
Hey, thanks mister for your insightful analysis. We appreciate that shit cause we're too dumb to think for ourselves and take your word for it. Perfect!
Especially with a lot of uninformed people getting into crypto, my brother just went on a trip with his school and they were all talking about crypto, not the best school in town that is, one has to be even more careful. Use even more salt when thinking.
Now, here's a two-sided problem with predictions.
For one, watch out for people trying to convince you that a 0.001 cent stock is gonna go to 58$ in just a month because they're about to sign a deal with Tesla and Apple wants to buy the company.
Chances are, those "investors" own a shit ton of stock in this exceptional company looking to dump it as soon as mom&pop buy into it.
Secondly, watch out for people making predictions about stuff they have no stake in. You can't take advice on something where the person giving the advice has no skin in the game.
They have no downside when they throw around their uneducated, wrong assumptions about what's gonna happen. If you're gonna advise me on something, I expect you to have part of the downside when your advice sucks.
Anyway, watch out who is saying what.