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Is Bitcoin Analysis Like Astrology?

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Is Bitcoin Analysis Like Astrology?

B
Benzinga

4,071 Views • Feb 03, 2022

Description

Nassim Nicholas Taleb, author of “The Black Swan,” recently said that technical analysis of Bitcoin and other assets is nothing more than an “anxiety reduction scheme” that is similar to reading a horoscope of reviewing astrological signs. Taleb went to Twitter (TWTR@US) with his complaints, noting that there is no available evidence demonstrating that things like the trendline and Fibonacci sequence will predict anything. The tweet read, “For those new to the game, there is ZERO evidence that “resistance”, “Trendline”, “Fibonacci”, “shooting star” and similar concepts predict anything in markets. It is simply, like astrology or Modern Portfolio Theory, and anxiety reduction.” Taleb has soured on Bitcoin recently, taking other shots at the apex token, comparing Bitcoin holders to “ruined gamblers'' and saying that Bitcoin is worth “exactly 0.” To Taleb’s point, Bitcoin is down more than 46% from its all-time high close to $69,000 that it reached in November of last year.

Keywords & Tags

#bitcoin #nft #non-fungible token #inflation #business #bitcoin analysis #all-time high #Twitter #altcoins #economic recovery #crypto mining #Astrology #economic growth #virtual currency #economic outlook #apex token #The Black Swan #Author #Bitcoin Data #Horoscope #Nassim Nicholas Taleb #anxiety reduction scheme #astrological signs #Fibonacci sequence #Trendline #Modern Portfolio Theory

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