Here comes the New Year! Please stop irresponsibly predicting cryptocurrency prices!

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the editorial viewpoint of The Block.

Making short-term price predictions regarding Bitcoin or any other cryptocurrency is a common occurrence on social media. In fact, it is surprisingly common amongst many widely followed and influential crypto personalities, who utilize the large megaphones of their social media platforms. The reason is simple: predictions receive significant user engagement and attract media coverage and eyeballs when they are made. By the time the predictions come due and prove, in most cases to be entirely wrong, most people have forgotten. Given the low cost and high upside, predicting short-term price action is essentially a growth-hacking strategy.

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