@Crypto.guru 2 April 2021 more from that month

Why cryptocurrency data history alone won’t save the day

All these fabulous technical analysis tools & patterns may help you understand the historical movements of a cryptocurrency’s price & may give a higher accuracy in predicting future price actions. Ok, don’t rush. Unfortunately, **you will not make that much money by just implementing some technical analysis in your investment strategy**, but at least, it **may indicate these sweets resistance levels**, so as to enter the market at the right moment and **not buy the top.** You have heard about this, but let me repeat it once more, **cryptocurrency market is too young** to have a well-developed price history, therefore all these tools and patterns cannot apply 100% to the cryptocurrency market. In the case of Bitcoin and Altcoins there are just **too many factors that come into play**, including speculation, pump & dump schemes, imminent regulations on the table, upcoming technological upgrades, and so on.   Therefore, all these trading bots / **mere machine learning models that are based only on historical data and technical analysis tools will not save the day**. Yet, an ML algorithm that incorporates at least **historical data and market sentiment**, plus taking into consideration the **correlation between the cryptocurrencies** & the strong influence of Bitcoin over Altcoins, would make more sense.