When good signals go bad

For years, it was widely known that you went to Bitcoin Twitter for the top analysis, not to Forbes and mainstream media.

But recently on Twitter we’ve seen a flood of influencers drawing false inferences from charts that have lost their meaning, and as a result giving poor guidance about chart action online. It would be nice to just dismiss this as noise, but this sort of thing actually creates headwinds for Bitcoin adoption.

In this letter we look at the three ways that use of charts that have lost signal is harmful to Bitcoin adoption, and which three (very) commonly-reported Bitcoin charts in particular you should no longer trust this cycle and why.