This is question #35 in the Astral Codex Ten 2023 Prediction Contest. The contest rules and full list of questions are available here. Market will resolve according to Scott Alexander’s judgment, as given through future posts on Astral Codex Ten.
1,000
3.00The average forecast by Finder's experts suggests that Bitcoin's price is projected to reach $30,463 by the END of 2023, a notable decline from the previous average prediction of $38,488 for the same year, as indicated in our survey from July 2023.
1. For the price forecast at year's end in 2023:
· Mean (average) prediction: $30,463.
· July 2023 - Previous Average Prediction: $38,488
· (30,463 - 38,488) / 38,488 = -20.88% is the percentage change.
@MarcusAbramovitch Thanks. Might be worth checking the other Bitcoin binary option markets against this.
Not good in economics. Will bitcoin price go down if North Korea dumps 40 million worth of bitcoins? Guess, not with 1 trillion worth of bitcoin.
The FBI believes the DPRK may attempt to cash out the bitcoin worth more than $40 million.
https://www.fbi.gov/news/press-releases/fbi-identifies-cryptocurrency-funds-stolen-by-dprk
@BoltonBailey Yes I also predicted NO there. I don't claim to be consistent 😉
My reasoning for no Tether depeg is: the fraud is still too big to fail. Market will stay irrational during 2023.
@uair01 would you like to bet on Tether going tits up by a certain date? I want to be betting against the Tether fudsters
@MarcusAbramovitch I don't think there's FUD around Tether, just a lot of quite evident fraud red flags. But that doesn't mean collapse is imminent or predictable. Many frauds held up solidly and then collapsed catastrophically and quickly: Enron, Madoff, Wirecard, OneCoin. It may certainly go on for 5 years still. I'm not betting on a date.
@uair01 see, what I'm asking for, which I've asked of basically every person who thinks tether is a fraud, is some type of operationalization. Or some type of concrete prediction to falsify. Instead I always either get absurd terms where I have to lock up 30x+ the money they do (and I outperform the bet with simple t bonds) or this vague "it's fraud but idk how long it lasts for since that's impossible to predict" vaguery that is never held accountable.
@MarcusAbramovitch If you're a good trader, you can make a lot of money from a fraud, even if you know it's a fraud. That's where the operationalization lies at the moment. It's too early for short selling, unless you have detailed inside knowledge.
@uair01 You cannot seriously be claiming that you are bidding 0% that something you describe as having "a lot of quite evident fraud red flags" will collapse on any time frame.
@Sailfish Yes I can, because of opportunity costs. I can spend my time and M better on other bets that I understand better or that I have more fun with.
Does $16.6k-$30k make sense as an ~50% confidence interval for year-end BTC? I’d guess there is modestly more variance here than that, and this market is clearly not moving in rational fashion as news comes in, so I’ll do a min-size M10 buy on YES despite thinking that the 75% number was likely too high.