Every day, seemingly millions of articles are churned out by the crypto news sites citing some analyst or other who has predicted "major correction for BTC soon" or "ETH price predictions for EOY2025" etc. Most of those are reposted in this very sub. But has anyone ever done any research into how often these analysts are correct in their predictions?
Even a broken clock is right twice a day, so what is a reasonable level of accuracy to expect from someone who claims to be a crypto analyst? My thinking is that it has to be more than 50% otherwise you'd be better off tossing a coin. To be an analyst worthy of having your data used to generate a news headline, I'd like to see more than 70%.
I ran some AI based analysis on predictions made in news articles from 2020, about crypto prices in 2023. Let's see how many were correct:
dailyhodle.com - 11%
cointelegraph.com - 12%
coindesk.com - 13%
I'll caveat this by saying that I don't have 100% faith in the methodology I used to calculate this (I'm not an analyst myself), but for crying out loud, I reckon I could ask my dog for predictions and get better.
Is it time to stop clicking on these articles, is it time to stop reposting them, and is it time to start asking my dog to manage my portfolio?
What are your thoughts?
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