Yahoo Finance Watch cryptocurrency experts discuss bitcoin price predictions
The volatility of bitcoin and other leading cryptocurrencies makes any kind of price prediction notoriously difficult.
After an up-and-down few months for the market, analysts appear divided over which way it heads from here. Some believe we are in a cool-off period that will see the price slide to yearly lows, while others predict new all-time highs before the end of 2021.
To get a perspective from both sides, we invited two experts to hear their views.
Joining the discussion was Simon Trimborn, an assistant professor at the Department of Management Sciences at the City University of Hong Kong, who discussed his recent research into price predictions from cryptocurrency experts and how they relate to actual market movements.
You can find his paper, ‘Informative Effects of Expert Sentiment on the Return Predictability of Cryptocurrency’, right here.
Also on the panel was Fred Schebesta, a crypto advocate and founder of comparison platform Finder.com, whose predictions about Solana’s meteoric price rise earlier this year proved spot on.
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They discussed recent developments in the crypto market, including El Salvador’s rocky roll out of its Bitcoin Law and the subsequent price crash, as well as the cryptocurrencies they are most excited about going forward.
And of course, we heard their take on bitcoin and presented them with the notoriously difficult task of price predictions.
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