Cryptocurrency
I am wrong about Bitcoin’s.. price
By Data Science Investor  •  June 21, 2022
It's important to celebrate wins. But it's even more important to acknowledge mistakes. Earlier this year, I wrote an article titled "The bull thesis of Bitcoin and why I think the price of Bitcoin won't go below $25,000". At the current time of writing this article, the price of a Bitcoin is hovering around $20,000. Bitcoin has gone below $25,000 for more than a week. Hence, it's clear that I am wrong in my prediction of Bitcoin's price. I was very confident then that Bitcoin will not go below its realised price then. You can pretty much see it in the title. The reason behind this confidence is simple then. If Bitcoin is trading below its realised price, it could mean that the majority of holders will be underwater. For that to happen, people will have to be selling their coins at a loss. It's hard to imagine people selling their coins at a loss. Of course, this turns out wrong and hence we are staring at a price of ~$20,000 per Bitcoin now....
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By Data Science Investor
This is a site to publish my findings and research which are based on data science to aid you in your decision making process for investments in stocks and property, particularly in the Singapore market.
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