Dave Ramsey, a renowned financial advisor declared a theory that we can judge an assets future success by the past charts. Though this is likely the case with many fiats for which analysts can gather information and the data about a certain currency to lay out the future charts which are true predictions as we have found out form the past. The crypto analyst Joseph Young tunes in again to tackle the statement that Dave has put forth with his remarks that for cryptos specifically for bitcoin, one can certainly cannot tell where the charts are more likely to go. Though this is a clear add-on to the previous statement, Young’s remarks were a bit harsh calling Dave as a crypto-hater and that his statement oozes out hatred for bitcoin. BlockPublisher sought to extract some remarks from Young regarding the whole situation.
Although most financial advisors who hate bitcoin to its core may state that we can judge an asset perfectly from the past trends, bitcoin did survive 85% of corrections throughout its long history.
Young certainly has his way with the words against the crypto haters but it is no surprise that the cryptos have shown irregular trend many times in the past, the most recent being the current bearish trend which is soon to turn intensely bullish. This will eventually translate to the prosperity for the bitcoin but Young is affirmative that this is set to continue for quite a decent time.
Dave Ramsey, the financial advisor did state the very statement that he has been associated with, but the manner he stated it, given no context, one cannot certainly tell if was mainly focused over cryptos and more specifically bitcoin.
A reasonable way to forecast investment returns is to say what they have done in the past over a long period of time is likely to do what they’ll do in the future.