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