Why Bitcoin Is Highly Unpredictable

[Dowenship]

Just this Morning at about 3:00Am, bitcoin was pumped hard from $34k+ to $39k+ very close to $40k in which most traders predicted a bounce back from its recent $34k to $32k, But surprisingly it liquidated or short traders.....
Is their any reason why bitcoin is highly unpredictable.

 

[Nomad]

The market determines the price. When people start buying the value goes up and when they start selling, the value goes down. When people hear good news, they will start buying and the price will go higher.

 

[Hena101]

I think the reason why bitcoin is highly unpredictable is the fact that it's not only few people that trade it almost everybody want to trade or invest in bitcoin.

 

[jeff87]

Just this Morning at about 3:00Am, bitcoin was pumped hard from $34k+ to $39k+ very close to $40k in which most traders predicted a bounce back from its recent $34k to $32k, But surprisingly it liquidated or short traders.....
Is their any reason why bitcoin is highly unpredictable.

Bitcoin price is unpredictable for small traders. I think for big whale traders they can predict the price. It's because of the volume of the money they invest and trade. Just like when Elon Musk company Tesla bought $1.7 billions of Bitcoin suddenly the price went up from 30k to 50k in split seconds.

 

[Aaron625]

That is the nature of bitcoin or any other crypto , their price is unpredictable though some predictions may go correct. Its due to the volatility of crypto, the traders make profit from it.

 

[gammarays]

Bitcoin is not different from any other crypto coin despite its popularity. It can be pumped and dumped at will. I think that's why countries are still against it. This issue needs to be solved if it's to be gladly accepted.

 

[Dowenship]

The market determines the price. When people start buying the value goes up and when they start selling, the value goes down. When people hear good news, they will start buying and the price will go higher.

You are right though but not all the time, the sudden spike in that particular market was not because the buying pressure increase it was pumped to liquidate short squeeze.

 

[Mostee501]

Generally not only bitcoin is unpredictable but other cryptocurrency as well,it's value change depends on the supply and demand curve of the market.

 

[Snazzy001]

Cryptocurrency is highly unpredictable because we are yet to fully understand the factors that could easily affect its stability in the market

 

[Yusuf]

Crypto currency exchange Business and Bitcoin is highly manipulative as at this time and one need to be very careful so that you won't go and buy at the high side and lose money

 

[skyliequiz]

The price of Bitcoin fluctuates in response to demand on exchanges like as Coinbase, Primexbt, and Binance. The price of Bitcoin will rise as more people desire to purchase it and fewer bitcoins are available for sale, and vice versa. Because Bitcoin is still in its infancy, it is very volatile.

 

[Josemendez]

Bitcoin is a cryptocurrency and cryptocurrency in nature are very volatile , one cannot predict what happens to their price. We only need to be patient with then

 

[Justin]

Bitcoin is decentralized currency, in other words it is not being controlled by an individual or a business but by the people who use it. If it was centralized the price would have been fixed.

 

[Kelly5]

If by highly unpredictable you're saying by the seconds or minutes, that is because it is a very volatile cryptocurrencies like other cryptocurrencies existing in the market right now

 

[Dowenship]

Bitcoin is decentralized currency, in other words it is not being controlled by an individual or a business but by the people who use it. If it was centralized the price would have been fixed.

Hmm..I reason with you on this, but don't you think its can be manipulated because the green candle that occurred that days looks like manipulation to me.

 

[Hena101]

I think the reason why it's highly unpredictable is because bitcoin is more popular than any other and it's price is attracting that's why.

 

[McIrx]

The major reason why some countries are still sceptical of Bitcoin is simply because it is unregulated. It can give you 100% gain in one day. And yes, you can lose 95% of your funds in hours. It depends on those pumping it. So the price of Bitcoin fluctuates thankfully to the "pumpers" and profit takers.

 

[jeff87]

That is the nature of bitcoin or any other crypto , their price is unpredictable though some predictions may go correct. Its due to the volatility of crypto, the traders make profit from it.

You are right that the nature of bitcoin and any other cryptocurrency is very unpredictable. Predictions can go correct or wrong. In my own experience, I have many predictions that went wrong. I think that also is what is happening to other traders. They would buy low and expect the price to to go up yet what happens in reality is the price going down more and more.

 

[Aaron625]

You are right that the nature of bitcoin and any other cryptocurrency is very unpredictable. Predictions can go correct or wrong. In my own experience, I have many predictions that went wrong. I think that also is what is happening to other traders. They would buy low and expect the price to to go up yet what happens in reality is the price going down more and more.

Yeah it needs some luck to get profit from the high quickly and also some patience if the Bitcoin price fakes too long to recover from the down. Trading is for those who have both patience and some luck

 

[Dowenship]

Yeah it needs some luck to get profit from the high quickly and also some patience if the Bitcoin price fakes too long to recover from the down. Trading is for those who have both patience and some luck

I tell you bro, I do talk to my partner about patience in this thing, if you aren't patient enough you will lose money, and that part I'd most painful part.