RE: @haejin 's olympic rewards unjustified? A look at the outcome of his predictions
I've been following Haejin for many months now and he's definitely not been accurate with his trade calls. He uses Elliot Wave which I believe is meant for more traditional markets. I also don't think he's a scammer as he isn't out there pushing products nor does he have a large enough following to move markets (IMO). The person known best for his price predictions would be Clif High (more fundamental than technical). I also follow Tone Vays and Node Investor for technical price analysis but all in all.....technical analysis I don't believe works well in a market that is ballooning and only has 1% global market participation. trend lines are very difficult to establish when the markets don't have a baseline and you can easily break out or break down when new entrants panic sell, fomo buy, or cause massive bog downs in exchanges and networks when they enter enmasse (happens every few months). It's still good to get multiple different perspectives from people that are analyzing the markets and why they believe markets will move up or down.
Fundamental analysis tends to lead people towards hodl mentality, which probably beats most traders in markets like these.
The guy seems to be analyzing these coins all day. He's already putting in the work, and I assume people would rather see his analysis than have no analysis at all. I'm cool with him making some crypto for the works he's put in. If he was just putting out bullshit and making bank, that'd be a different story.
I'm in the camp of crypto is booming, we should all be aggresively capitalizing off of it to be financially free!
I appreciate your opinion! I know someone who seems to be pretty successful in applying the Elliot Waves theory to his day-trading and, at least in retrospective, you can often clearly see the wave patterns, so there is definitely something to the theory.
I totally agree that the crypto space is way too unpredictable and manipulatable for technical analysis to work reliably or as reliably as it can.
I am following Node investor as well and I believe he is the one I learned the most from. Haven't heard of Clif High yet. His tweets are mostly non-crypto related. Has he shifted focus?
Clif High created this program called the web bot and pioneered predictive linguistics. His web bot pretty much scours the web for words and phrases and gives them rankings based on their emotional tone value. Based how many times a word comes in in xyz forums, twitter, facebook, etc. and how they come up, his bot is able to project how likely xyz will happen and when. He used to cover everything from politics (election outcomes), earthquakes/weather, economics, financial markets, geo politics, and crypto. He's been calling BTC, ETH, LTC price movements for over 12 months on a general level for the most part and nailing them. He's calls some exact price targets now and then but not often.
His report had Populous, Veritaseum, AdEx, Centra, TenX all as great ICO investments based on his predictive linguistics. He's very well known in the space but because his web bot covers many different things and he's only recently shifted focus entirely to crypto, people often think he's crazy. He's not 100% accurate but he's the most accurate i've seen in the space. If you're a fan of numbers, trend lines, support, resistance, he doesn't provide much of them.
I explain briefly what he does in the video below.
https://steemit.com/bitcoin/@stonecryptonews/who-to-follow-for-crypto-news-on-youtube-and-twitter-crypto-tutorial-episode-10
Ah, I definitely have to check him out then. Thanks for the elaborate explanation!