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Bitcoin pricing


I see so many charts posted predicting the future value of bitcoin.

I love it when people put lines all over price charts hoping to predict the subjective valuation of thousands of irrational actors. 

Trends are meaningless, and mass action will come in response to events out in the world, as well as the chaos created in the feedback loop of people adjusting their valuations based upon where they see trend lines going. 

Basically it all becomes a spin of the wheel, a roll of the dice, and all sorts of predicting is equivalent to rubbing a rabbit's foot. This is doubly so when all other actors have the same information that you do, and therefore come to the same conclusions you do.