Wisdom of the Crowds is the phenomenon where collective guesses or decisions of a group often outperform individual judgments, especially when the group is diverse and independent. It works because individual errors tend to cancel each other out, leading to surprisingly accurate averages.

For our experiment, we’ll apply this concept to the Bitcoin price. Everyone can submit their prediction for the next Bitcoin price. By aggregating these inputs, we aim to generate a collective forecast that outperforms individual predictions—allowing everyone to benefit from the crowd’s wisdom.