-1

First please don't downvote or close, I have read this: How to predict value of bitcoin?

My question is not the same, I know is imposible to predict this. But I see there are a lot of strategies with chart candles for example, different candle patters etc, so my question is how reliable are those things?

Because if they work, why there isn't any software doing all the operations automatically following the patterns? And if they don't work, why they exist?

In any case, is there any software out there with "predictions" based on these different strategies or patterns? will be much easier if some software just tell us "here is X pattern so price will be up/down on next transactions" then we could decide what to do, but at least we don't need to burn our eyes searching for thos patterns.

0

"how reliable are those things?" / "And if they don't work, why they exist?" software and strategies to predict the price exists but it works very restricted. there is a normal price fluctuation which you sometimes can successfully predict with software and sometimes not. the problem is, that no software can predict "political events". news and headlines like "bad news from china again", "bitcoins were stolen from a south korean exchange. was the bitcoin-network hacked?", "some people are selling all their thousands bitcoins", "scaling problem solved: lightning is now implemented" are influencing the bitcoinprice more essential than things which can be predicted by a software.

"why there isn't any software doing all the operations automatically following the patterns?" even if this would work not everybody would have acces to this software (because if this software would be good, it would rarely be cheap) and not everybody would have the technical knowledge and the volition to use it.

  • 1
    so that means all the strategies and analysis are useless, this is just intuition and lucky... – Enrique Dec 25 '17 at 0:23
  • yes - throwing shells might be the right explanation, but surrounded by a lot of buzz words and marketing bla, including expensive consulting, it becomes suddenly an economical topic with a layer of expert knowledge :-) – pebwindkraft Dec 25 '17 at 8:38
  • @Enrique No. You are assuming that the only use of a strategy is to predict the price. This is incorrect. Another, and very important, use of a strategy is to provide a desired risk/reward tradeoff. – David Schwartz Jul 10 '18 at 7:19

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.