If you borrow money to invest, you will have to pay it back (to your broker).
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Random walk theory (28k<BTC<32k).
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Burton G. Malkiel, an economics professor at Princeton University and writer of A Random Walk Down Wall Street, performed a test where his students were given a hypothetical stock that was initially worth fifty dollars.
The closing stock price for each day was determined by a coin flip. If the result was heads, the price would close a half point higher, but if the result was tails, it would close a half point lower. Thus, each time, the price had a fifty-fifty chance of closing higher or lower than the previous day. Cycles or trends were determined from the tests. Malkiel then took the results in chart and graph form to a chartist, a person who "seeks to predict future movements by seeking to interpret past patterns on the assumption that 'history tends to repeat itself'.
The chartist told Malkiel that they needed to immediately buy the stock. :)
Since the coin flips were random, the fictitious stock had no overall trend.
Malkiel argued that this indicates that the market and stocks could be just as random as flipping a coin.
(wikipedia)
******
Burton G. Malkiel, an economics professor at Princeton University and writer of A Random Walk Down Wall Street, performed a test where his students were given a hypothetical stock that was initially worth fifty dollars.
The closing stock price for each day was determined by a coin flip. If the result was heads, the price would close a half point higher, but if the result was tails, it would close a half point lower. Thus, each time, the price had a fifty-fifty chance of closing higher or lower than the previous day. Cycles or trends were determined from the tests. Malkiel then took the results in chart and graph form to a chartist, a person who "seeks to predict future movements by seeking to interpret past patterns on the assumption that 'history tends to repeat itself'.
The chartist told Malkiel that they needed to immediately buy the stock. :)
Since the coin flips were random, the fictitious stock had no overall trend.
Malkiel argued that this indicates that the market and stocks could be just as random as flipping a coin.
(wikipedia)
