Why I Hate Crypto Analysts So Much

00:01 hey everyone I've been wanting to do a 00:03 video about why I hate crypto analysts 00:05 so much and I see tweets like the one 00:08 I'm about to read you all the time and 00:10 every time I think the whole analyst 00:12 Community not just crypto analysts but 00:14 analysts in general the vast majority of 00:16 them are complete BS complete BS 00:19 constantly making predictions that can't 00:21 be wrong and so I'm going to read you 00:23 this prediction it's probably mirrored 00:25 the wrong way but this is wrecked 00:27 Capital um which is a popular Twitter 00:30 handle that makes predictions but the 00:32 analysts are all like this okay so I'm 00:34 going to read it to you I'm going to 00:35 read you the whole thing and then I'm 00:36 going to tell you what's wrong with it 00:37 because it's basically what's wrong with 00:39 almost all analysts so it says 00:41 ultimately Bitcoin has uh daily closed 00:43 above $100,000 so yesterday that 6 o' 00:46 p.m. which is the official close of the 00:47 market Bitcoin was just above $100,000 00:50 when they wrote this ultimately Bitcoin 00:52 has a daily close above 00:53 $100,000 however for Bitcoin to move up 00:56 from here it would need to reclaim 00:58 $111,000 as support much like it did on 01:01 December 14 otherwise 01:04 $11,000 could turn into a new resistance 01:07 which could mean the downside isn't over 01:10 okay so everybody is always predicting 01:12 something that I'm going to just 01:13 simplify what I just read to you what I 01:15 just read to you is Bitcoin is 01:17 $100,000 if it can't get back to 100,000 01:21 $101,000 it's probably going down now 01:24 conversely let me say it another way 01:26 Bitcoin is $100,000 per coin if it never 01:29 goes down below $999,000 per coin it's 01:32 probably up from here well of course 01:33 it's up from here I mean every analyst 01:37 makes these ridiculous stupid 01:38 predictions that basically says here's 01:40 the price if we don't go up we might go 01:43 down conversely if we don't go down we 01:47 might be going up well of course of 01:50 course if we don't go down we might be 01:52 going up and if we don't go up we might 01:53 be going down it's ridiculous and so the 01:57 problem with tweets like this this 01:58 ridiculously stupid tweet from uh 02:01 wrecked Capital which again is one of 02:03 like a million analyst predictions that 02:05 are on Twitter like every day and they 02:07 come out and these analyst reports that 02:08 are 25 page long and all this sort of 02:11 stuff the predictions are always the 02:12 same and then eventually they always say 02:14 called it right because if I say Bitcoin 02:17 is $100,000 and if it doesn't go down it 02:20 might go up and if it might doesn't go 02:22 up it might go down then no matter which 02:24 way the price goes immediately I get to 02:26 go on Twitter and say haha called it I 02:29 said if it didn't go below you know 99 02:32 it was probably going up and then it did 02:34 go up which means I'm a genius analyst 02:36 and you should listen to me conversely 02:38 again they're always predicting if it 02:40 doesn't go above 101,000 it's probably 02:42 going down and then as soon as it goes 02:44 down they're like called it I'm a genius 02:46 you should follow me in order for them 02:48 to be wrong the market would have to 02:50 basically freeze right so the only way 02:52 they can be wrong with this prediction 02:54 is if Bitcoin holds at exactly 02:57 $100,000 indefinitely which know no high 03:01 no growing asset ever does that which 03:03 means you can always predict that it 03:05 will go up or down and even if you're 03:08 wrong uh so this also drives me crazy 03:10 because analysts are always predicting 03:13 uh expect 03:15 volatility so that's like me sitting on 03:17 my back patio saying it's a beautiful 03:20 day the temperature right now is 03:23 50° you know if there's one thing I 03:25 think that's in store for us is the 03:27 weather's likely to change uh if the 03:29 temperature doesn't go up it's probably 03:31 going down and if the temperature 03:33 doesn't go down I'll bet you it's going 03:35 up and then I can predict the weather 03:37 every single day like these [ __ ] 03:38 analysts that are constantly saying this 03:40 stuff so uh that's that's all it is they 03:43 are virtually always saying things that 03:46 allow them in retrospect to call it now 03:48 here's the thing anytime an analyst 03:50 calls for you know increased volatility 03:53 in the meantime expect volatility is if 03:57 they're wrong if it just so happens for 03:59 the next couple weeks that there's very 04:02 little volatility that the price just 04:03 doesn't change much at all nobody is 04:06 ever going to go back to those analysts 04:07 and say hey you said it was going to 04:10 change and it didn't because nobody 04:13 remembers when nothing changes and so 04:15 just like right now if I said you know 04:16 50° outside expect temperature changes 04:19 everyone just expect temperature changes 04:21 well what if through some miracle we 04:23 hold that exactly 50° for the next week 04:26 nobody's going to remember that I 04:27 predicted temperature changes and then 04:29 it didn't didn't right everybody only 04:32 remembers when something changes which 04:33 means the analysts can always predict 04:35 that something's going to change and 04:37 then when it changes they say they 04:38 called it and then they try to get you 04:40 to Subs subscribe to their $29 per month 04:43 subscription that's going to enable you 04:44 to predict the future because they're 04:46 going to keep giving you these garbage 04:48 estimates so it drives me crazy every 04:50 time I hear somebody talking about 04:52 support and resistance and making claims 04:55 that if it doesn't go up it might go 04:56 down and if it doesn't go down it might 04:58 go up and they always Mas in this 05:00 extremely complicated technical jargon 05:03 that I understand so I understand what 05:05 they're saying but you also when you cut 05:07 through it you realize all that they're 05:08 ever saying is if it doesn't go up it 05:10 might go down and if it doesn't go down 05:12 it might go up and if they are so 05:15 pathetic that they can't even predict 05:17 that then they predict expect heightened 05:20 volatility because they have no idea and 05:23 it's like predicting that the weather 05:25 might change be on the lookout for 05:27 changing weather everyone be on the 05:29 lookout the weather might change if it 05:32 doesn't get hotter it might get colder 05:33 if it doesn't get colder it might get 05:34 hotter but be on the lookout the weather 05:37 might change there you go now I can 05:38 predict the future of weather these 05:40 analysts are so ridiculous and I see 05:42 them constantly and it drives me crazy 05:44 and so finally I've decided to do a 05:46 video about it anyway have a great day