Predicting the price of crypto isn’t a new thing. Researchers and traders have always predicted the price of cryptocurrencies whether it was successful or not. These predictions have aided most successful traders to earn a fortune.
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Not all participants in the crypto community use classic tools to analyze the market—many resort to rather unconventional ways.
We are talking about Fundamentalists who believe so much in history and facts when predicting the market direction over a said period or before an event happens.
Today, let’s talk about the three uncommon methods
Some believe that market behaviours are correlated with lunar phases. They assume that Bitcoin growth periods often coincide with new moons. A full moon, according to his logic, is, on the contrary, a signal for the market to fall in the short term. An example of such a forecast is in the picture.
▪️ Tarot cards
Tarot cards are especially popular in Thailand, but little by little, they’ve been appearing all over the world. In simple terms, “tarot analysts” read the cards and share the signals received from “otherworldly forces.” Some of these “experts,” by the way, have managed to gain a huge following.
▪️ Artificial intelligence
With the emergence of ChatGPT, every self-respecting crypto user has already tried interacting with the chatbot to gain insights into what will happen to Bitcoin’s price. Well, such predictions have many disadvantages. First, chatbots may rely on outdated information. (The “standard” ChatGPT is unaware of the FTX crash—can you imagine?)
However, many will argue that Technical analysis remains the most important way to analyse the market and make predictions. We all know that technical analysis has always worked mostly for retail traders who trade for short-term profits.
While the crypto market’s unpredictability makes it challenging for any program or chatbot to accurately forecast prices. The market makers seem to be the owners since they reportedly make the market move in any direction.