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RE: Social Media Trading Analysts Are Likely Mostly Doing a Disservice to the Blockchain Community

in #bitcoin6 years ago

I think the reporting suffers from the fact that those reporting are all heavy holders of the currency they're reporting on. Talk about stake in the game. They are extremely partial. Even if they wanted to behave impartially, I don't know that their minds wouldn't play tricks on them.

How does that saying go? Something like, never expect a man to tell the truth when his livelihood depends on the lie?

Anyway, I think there is no stopping them from overselling the upwards potential. We just have to do a better job of giving out more rational information like this. It isn't responsible to dismiss the upward potential of crypto either, as many do as soon as they hear agreement that it isn't a sure thing. It is neither a sure thing nor an impossible or even unlikely thing for crypto to appreciate. The overall market is very likely to appreciate over some period of time. But as you say above and the saying goes in general, past performance does not indicate future results. We can't know WHEN events will shift the market into a steady recovery.

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Just imagine if people could short these coins!

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