Lately, there has been a lot of talks whether Bitcoin is a bubble (about to burst) or not. The discussion is quite interesting, not only because there is potentially a lot of money involved, but also because it shows how our economic theories are primarily unclear and secondarily incomplete on concepts such as bubbles and cryptocurrencies. Irrespectively of the various views of the “real” value of Bitcoin, most agree that it is fueled by lots of speculation. That made me wonder, how well can crowdsourcing anticipate its movements?
I built the app below that will update with the daily closing prices and also show how successful or not yesterday’s predictions were. Apart from getting your forecasts, I would be interested to get your views about this in the comments.
Check again tomorrow to see what was the outcome on today’s closing price!
I provide here the latest tweets about bitcoin, to fuel your predictions!