what i meant is that your short term predictions, long term, will be less profitable than just holding.
RE: STEEM Price Analysis – May 30, 2017
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STEEM Price Analysis – May 30, 2017
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It all depends on what long term is in this case. When looking at cycles of Bitcoin for example, we can see several boom and bust cycles that took a year or so to play out. Those are perfect for people who still want to trade but not watch charts 24/7. That way only 1-2 trades a year would be required. I agree that trading over very short period of times isn't worth it unless one has very high capital to play with to make it worth while and really knows what he is doing, specially in these unregulated markets.
People trying to play these small moves can burn themselves resulting them to miss out on the big move in bigger timeframe. Not worth it.
Edit: also many of the cryptocurrencies don't even have their product launched or like Steem are just getting started. We are in the start of some major moves and are lucky to be here.
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Exactly. This is why I advice people to stay out of day-to-day analysis. its bullshit really. it's like watching the wind blow leafs, trying to determine whether a storm is coming. The perspective is too narrow and the factors beyond computation. More or less naive understanding of statistics and math.
Take for example last week's crypto bubble whistlers. Every single one failed due to naive patternicity — a common confirmation bias mistake. By the time they got out it would have corrected. The hodlers won.
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