Re:Bitcoin Halving Just Occured
by nateberkopec on Tuesday May 12, 2020 @04:31AM
(#23151747)
That's not what the efficient markets theory is. It means that the current price reflects all currently available public information, not that the price magically predicts the future and it can never change. Random events like what you described are completely different from the halvening, which is predictable years in advance almost down to the day.
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The Efficient Market Hypothesis is complete BS. It's only relevant in academia, and it'll stay that way since there's no profit to be had going to academia and arguing with professors on their home turf about it.
You can see that it's BS by just looking at Warren Buffett's investment returns, all collected from exploiting long term market inefficiencies.