The volatility of bitcoin and other major cryptocurrencies makes price prediction of any kind extremely difficult.
After a few months of volatility for the market, analysts appear divided as to how it moves from here. Some believe that we are in a cool-off period that will see the price hit an annual low, while others predict a new all-time high before the end of 2021.
To get a perspective from both sides, we invited two experts to hear their views.
Joining the discussion, Simon Trimborn, an assistant professor in the Department of Management Science at the City University of Hong Kong, discusses his recent research into price predictions from cryptocurrency experts and how they relate to actual market movements.
You can find his paper, ‘Informative Effects of Expert Sentiment on Predicting the Return of Cryptocurrencies’, right here.
Also on the panel was Fred Shebesta, a crypto advocate and founder of the comparison platform. Finder.com, whose predictions earlier this year about a rise in Solana’s meteorite prices turned out to be correct.
Sign up for The Granthshala’s free IndiTech newsletter by clicking here
He discusses recent developments in the crypto market, including the Rocky roll out of El Salvador’s own bitcoin law and the subsequent price crash, as well as the cryptocurrencies they are most excited about moving forward.
And of course, we listened to his opinion on bitcoin and presented him with the notoriously difficult task of price forecasting.
Credit: www.independent.co.uk /