Bitcoin's price movements are driven by speculative forces, not fundamental value.

Bitcoin's price movements are driven by speculative forces, not fundamental value. ETF inflows, corporate adoption, and whale activity mask weak fundamentals. Historical patterns and predictions from figures like Saylor and Novogratz are overly optimistic and ignore base rates of failure. I observed multiple instances of retail-driven hype cycles and noise from promoters, which do not change the bearish fundamentals. My statistical approach demands a large sample size to update my prior, which remains unchanged.