12-15-2021, 03:43 AM
Just a reminder, it doesn't matter what BTC did last year or 17 weeks ago or 69,420
<!-- SC_OFF --><div class="md"><p>I see this same mistake repeated ad nauseam. Yes, BTC has doubled many times. Yes, it has happened rapidly sometimes. Yes, December can be good for BTC pricing.</p> <p>But all that shit doesn't matter. Looking at past performance down to the day/week/month and using that to make <em>any</em> prediction on pricing is a fool's game. This same lunacy has been repeated in stock trading for decades and is still just as worthless as ever.</p> <p>Y'all basically on some healing stones / astrology ish when you buy/sell or predict pricing based on how something performed in a specific 3 week span 49 weeks ago.</p> <p>Along the same lines: going from a $333B market cap to a $1T market cap is not the same as going from a $1T market cap to a $3T market cap. It becomes increasingly more difficult to increase market cap as your market cap increases. There is no guarantee that something that doubled from a $10M market cap to a $20M market cap in a week can double again in another week.</p> <p>P.S. Fuck Tether, just because.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/SoupaSoka"> /u/SoupaSoka </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg7oaf/just_a_reminder_it_doesnt_matter_what_btc_did/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg7oaf/just_a_reminder_it_doesnt_matter_what_btc_did/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I see this same mistake repeated ad nauseam. Yes, BTC has doubled many times. Yes, it has happened rapidly sometimes. Yes, December can be good for BTC pricing.</p> <p>But all that shit doesn't matter. Looking at past performance down to the day/week/month and using that to make <em>any</em> prediction on pricing is a fool's game. This same lunacy has been repeated in stock trading for decades and is still just as worthless as ever.</p> <p>Y'all basically on some healing stones / astrology ish when you buy/sell or predict pricing based on how something performed in a specific 3 week span 49 weeks ago.</p> <p>Along the same lines: going from a $333B market cap to a $1T market cap is not the same as going from a $1T market cap to a $3T market cap. It becomes increasingly more difficult to increase market cap as your market cap increases. There is no guarantee that something that doubled from a $10M market cap to a $20M market cap in a week can double again in another week.</p> <p>P.S. Fuck Tether, just because.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/SoupaSoka"> /u/SoupaSoka </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg7oaf/just_a_reminder_it_doesnt_matter_what_btc_did/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg7oaf/just_a_reminder_it_doesnt_matter_what_btc_did/">[comments]</a></span>Kind Regards R