hey #bitcoin gurus i just came across this interview with robert prechter ( a well known person ) who said that according to his calculations the #bitcoin price action is exhausted and even after reaching new all time high
could very well go below 10K
👇👇👇👇
https://youtu.be/TSl2aOa7K9U?si=bh2WbuP6DznlsSsQ
what do you think?
#asknostr 
Here's his interview from last year. Compare it to what actually happened and tell me for yourself how credible he is.
Interesting video, thanks for sharing
the man is on record talking about someone 'inventing a better coin '. this one statement alone shows he understands nothing about bitcoin
I've been thinking over this for a while and now I remember why he is wrong. He is using the "bitcoin is old tech" logical fallacy. Altcoins are the testgrounds for new ideas, some make it into bitcoin, but most do not. What is wrong with Prechter's prediction is the thought that bitcoin could be replaced with something "better" and that bitcoin's technology is immutable. This is why people get lured into shitcoins, and it shows a deficit in his understanding of bitcoin itself, the nature of open protocols and how technology responds to the free market.
