This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!An old wives tale exists in finance that pertains to something I covered in a newsletter about 15 issues ago. The "parable of the ox" is about a competition where people would attempt to guess the weight of an ox at a county fair. Famous statistician Francis Galton recognized that the average of all guesses was extremely close to the actual weight of the ox. This works well in finance when a million people are shouting a million guesses on each end of the spectrum. A couple of weeks ago, I researched the top 9 Bitcoin predictive models, and taking the average of the predictions, I calculated $235,000 to be the average prediction for this cycle top. Will it go there? I have no idea, but I do find the calculation to be reasonable. One Twitter user went above and beyond the 9 most popular models, using around 200 predictions to find the sweet spot in the middle. I was pleased to see that his average came out to $231,931. There are so many variables affecting where the cycle top could land, so I won’t bother spending too much time on the idea, but the simplicity of the prediction is fascinating and one I can't help but consider.https://twitter.com/CoinCornerDanny/status/1343923497668669442When looking for future price targets, remember the "parable of the ox" and Francis Galton - it can help hone in on a reasonable average and idea.I will be charting your requests today at 2 PM EST on YouTube! As always, I accept them via email on Wednesday from 8 AM to 1 PM EST. Here is the link to watch when I go live!Watch it here - https://youtu.be/2Jprw4yxXV8IntoTheBlock is taking the holiday off, so they will not be sharing analysis today. I think I am the last person left on earth who is working this week.There are still no trades I can see worth watching this week on altcoins or stocks. Once again, this is not a week to be active in markets - it is basically a holiday, traders are closing their books. We are also waiting for Bitcoin to allow some altcoin movement. I know you all want charts and setups, but I will never force trade ideas in a market I view as suboptimal. We can dig in more on the livestream if you have requests.In This Issue:Bitcoin Thoughts And AnalysisMy Top 10 Holdings By Dollar ValueAnalyst Who Called Coinbase XRP Delisting Claims SEC Isn’t FinishedInvestors Want To See Funds Investing In CryptoGazprom Using Excess Energy To Mine CryptoWhales Are Moving CoinsMy Recommended Platforms And Tools
The Wolf Den #146 - The Parable Of The Ox
The Wolf Den #146 - The Parable Of The Ox
The Wolf Den #146 - The Parable Of The Ox
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!An old wives tale exists in finance that pertains to something I covered in a newsletter about 15 issues ago. The "parable of the ox" is about a competition where people would attempt to guess the weight of an ox at a county fair. Famous statistician Francis Galton recognized that the average of all guesses was extremely close to the actual weight of the ox. This works well in finance when a million people are shouting a million guesses on each end of the spectrum. A couple of weeks ago, I researched the top 9 Bitcoin predictive models, and taking the average of the predictions, I calculated $235,000 to be the average prediction for this cycle top. Will it go there? I have no idea, but I do find the calculation to be reasonable. One Twitter user went above and beyond the 9 most popular models, using around 200 predictions to find the sweet spot in the middle. I was pleased to see that his average came out to $231,931. There are so many variables affecting where the cycle top could land, so I won’t bother spending too much time on the idea, but the simplicity of the prediction is fascinating and one I can't help but consider.https://twitter.com/CoinCornerDanny/status/1343923497668669442When looking for future price targets, remember the "parable of the ox" and Francis Galton - it can help hone in on a reasonable average and idea.I will be charting your requests today at 2 PM EST on YouTube! As always, I accept them via email on Wednesday from 8 AM to 1 PM EST. Here is the link to watch when I go live!Watch it here - https://youtu.be/2Jprw4yxXV8IntoTheBlock is taking the holiday off, so they will not be sharing analysis today. I think I am the last person left on earth who is working this week.There are still no trades I can see worth watching this week on altcoins or stocks. Once again, this is not a week to be active in markets - it is basically a holiday, traders are closing their books. We are also waiting for Bitcoin to allow some altcoin movement. I know you all want charts and setups, but I will never force trade ideas in a market I view as suboptimal. We can dig in more on the livestream if you have requests.In This Issue:Bitcoin Thoughts And AnalysisMy Top 10 Holdings By Dollar ValueAnalyst Who Called Coinbase XRP Delisting Claims SEC Isn’t FinishedInvestors Want To See Funds Investing In CryptoGazprom Using Excess Energy To Mine CryptoWhales Are Moving CoinsMy Recommended Platforms And Tools