Given that the future is inherently unknowable, it’s interesting to me that so many people ask questions about Bitcoin’s price — something that by definition, no one can know for sure.
Apparently, people who buy Bitcoin are really, really interested in reading other people’s forecasts for it, even though it should be obvious to anyone that nobody can possibly know the future.
Instead, they should be reading about confirmation bias to understand better just why they are asking such questions on Quora to begin with.
Confirmation bias, also called confirmatory bias or myside bias, is the tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses. It is a type of cognitive bias and a systematic error of inductive reasoning.