Analysis Opinion

A Kangaroo Court

Do you know what is Kangaroo Court? You never been to Australia? But you know I suppose. So – how it is connected with crypto? Sorry but sometimes – it is. Due to some experts.

But first I’d like to say – I like experts, I even love them (with innocent meaning) and for sure feel respect. They are our friends and helpers in deep blue sea of crypto. They help us to swim in waves and survive. But sometimes in some their advices I see a Kangaroo Court – sorry!

Let’s watch and listen to distinguished expert Alessio Rastani and his latest video – “about the number one question has been recently which is – when is Bitcoin gonna go back up?”

The expert stated:

– One of the key things we look at when we look at market statistics or indeed market dynamics is what’s called seasonality. seasonality is the behavior or the study of the markets or the behavior of the markets during different seasons.

You serious, Man? Is bitcoin a plant or something?

But Alessio insists:

– Studies have shown that actually Bitcoin does really horribly from the period from June to October in fact… In fact, the best time for Bitcoin is the period from October to December so guess what you could do is just forget Bitcoin for the next few months and just come in the middle of October. In fact, my own studies show that the best time for Bitcoin is likely to be between October 14th at the end of October. That the last two weeks of October could be the best for Bitcoin according to the studies on seasonality… Bitcoin needs to stay above support it needs to stay above the January June lows Bitcoin must not fall into a bear market… There is a high probability we could see a rally in Bitcoin towards the middle to the end of October if it falls below the January June lows. If it falls below 6,000 – for example below 5700 that could be bad news but it’s not necessarily bad because it still might be able to rally. If Bitcoin goes down to 5,000 or lower, it might still be able to bounce off those levels and potentially see a rally.

OK, we all know about intuition and expert opinion and we recognize the rights. And we know that Year-to-Year statistics need to be taken in consideration – along with other figures. And we live in a Free World at last. But what about responsibility? Better – facts and figures. With that intuition you can shoot in dark, Man!

PS
1. A kangaroo court is “reading the economic tea” or an exercise in guesswork.
2. Alessio Rastani – is a Stock Market and Forex trader. Keynote speaker on stock trading. Mentor and dedicated to helping others succeed, London, UK – (as it is mentioned in his twitter).