Bitcoin has always been a highly speculated asset right from its inception. Several market analysts and traders predicted that the price of bitcoin would reach hundreds of thousands by now, and some pundits claimed that bitcoin would be worthless in some years. Vitalik Buterin highlighted some of these highly ambitious predictions made a few years that turned out wrong.
Influencers need to be careful with predictions
This is why I think digging up over-confident predictions people made 2-5 years ago that turned out horribly wrong and laughing at them is a great custom to have.
We need at least social incentive to say things that are sane, and we need to be reminded of everyone’s fallibility. https://t.co/UDkDLKkypi
— vitalik.eth (@VitalikButerin) April 6, 2020
Vitalik Buterin tweeted that digging up over-confident predictions people made 2-5 years ago that turned out horribly wrong and laughing at them is a great custom to have. He replied this to a tweet that said that there is a lack of accountability framework for those with a high degree of influence. Vitalik Buterin also added that we need at least a social incentive to say things that are sane, and we need to be reminded of everyone’s fallibility.
Vitalik Buterin quotes John McAfee’s $1 million BTC prediction
Price predictions on the crypto space are notorious for turning out very wrong – on both the bull *and* bear side. pic.twitter.com/KkapAAxQBX
— vitalik.eth (@VitalikButerin) April 6, 2020
Ethereum co-founder Vitalik Buterin tweeted John McAfee’s famous one million dollar bitcoin prediction to point out that people with strong influence should be more careful with their opinions as it has a large effect. John McAfee had predicted that the price of bitcoin would reach one million dollars by the end of 2020. He also tweeted that the price predictions on the crypto space are notorious for turning out very wrong – on both the bull *and* bear side.
Vitalik Buterin also highlighted the BTC prediction made by Nouriel Roubini in February 2018, Roubini predicted that bitcoin is on its way to crash to zero. It is often overlooked how these extremely radical predictions influence people to buy or sell their assets in a panic state.
