Biblically speaking, the term prophecy covers the following: 

-         Revelation of God and His salvation plan

-         Revelation of divine secrets/future events

-         Condemnation of sins and iniquities

-         Pronouncement of divine judgment on sins and iniquities

-         Divine comfort

-         Divine guidance

-         Divine promises

-         Conveying of timely messages of God 

The Bible is a book of prophecy.  One may normally tend to believe that the word prophecy in the Bible means only prediction of the future. It is not so because it performs all the above functions.  

 For the prophecy came not in old time by the will of man: but holy men of God spake as they were moved by the Holy Ghost (II Pet.1:21). The Bible Prophecy was revealed in the Old Testament by the Holy Ghost through the holy prophets. We tend to think that the prophecies came forth only through the prophetic books like Isaiah, Jeremiah, etc. It is not so. We should bear in mind that the prophecies started flowing forth right from the Garden of Eden. In the third chapter of the Book of Genesis, God cursed the serpent and pronounced judgment on Eve and Adam.  These were the words of prophecy which came directly from the mouth of God. 

Prophecies -   Old Testament Vs New Testament: 

The Old Testament reveals the salvation plan of God.  The New Testament fulfills the salvation plan of God.  The prophets of the Old Testament were the spokespersons of God for revealing the salvation plan of God. The prophets of the New Testament execute the salvation plan of God.  For all the prophets and the law prophesied until John (Matt.11:13). In fact, the prophecies concerning the salvation plan of God came to an end with the ministry of John the Baptist who revealed Christ as the Lamb of God to the Israel. However, the Bible Prophecy concerning prophetic events continued to be revealed through Jesus Christ and through His apostles who wrote the Gospels and the Epistles.  Since the salvation plan of God had already been revealed through the Old Testament prophets, Jesus as the Prophet did not make any fresh prophecy in this regard. However, He made prophecies concerning prophetic events that would take place.  He spoke words of comfort and of promises. He also spoke words of condemnation against the Pharisees and Scribes, and condemned the sin. He also conveyed timely messages of God to Israel.

The Bible Prophecy concerning revelation of the salvation plan of God came to an end with the ministry of John the Baptist. The fulfillment of the salvation plan began with the birth of Christ. All the Old Testament prophecies concerning the ministry of Christ right from His birth to His ascension to Gods right hand were fulfilled. The word of prophecy in Gen.3:15 concerning the seed of a woman was fulfilled with the birth of Christ as mentioned in Col.4:4. The word of prophecy in Ps.68:18 regarding Christs ascension to Gods right hand was fulfilled as per Mark 16:19.

No prophet under the New Testament shall further add to the salvation plan of God which had been revealed once and for all under the Old Testament. Neither shall he add to nor shall he delete what the Old Testament prophets spoke.  If he adds or takes away any of the words of prophecy spoken by the Old Testament prophets, he will be a false prophet.  

These days, some prophets claim to be end-time prophets and their claim is not scripturally correct. God has revealed all the truths to us in the Bible Prophecy which came to an end in the isle of Patmos when John received the special revelations from God. There are not such end-time truths to be revealed to such end-time prophets. Of course, in these last days, the New Testament prophets get revelations on the Bible Prophecy which had already been given to the Church. The New Testament prophets only interpret the Bible Prophecy and are not supposed to give any other prophecy which contradicts the Bible Prophecy.  Through the revelations and visions received by them from the Holy Spirit, they only confirm the Bible Prophecy that takes place in the end-time. These so-called end-time prophets should not and cannot proclaim any message which is outside the written Word of God.  Leaders of certain cults proclaim other ways of salvation than what the Old Testament prophets proclaimed. They are indeed false prophets.

The Bible Prophecy concerning the salvation plan of God which had begun in the Book of Genesis was partly fulfilled at the Calvary. The remaining part of the Bible Prophecy concerning the final redemptive plan of God would be fulfilled after the second advent of Jesus Christ when those who would be alive and those who are dead in Christ would put on immortality (I Cor.15:51-58).

The Bible Prophecy concerning prediction of future events which had begun in the Garden of Eden was finally revealed to John the apostle and prophet, when he was in the island of Patmos. The Book of Revelation was given to the Church through John as the last book of the Bible Prophecy concerning future events about the end of this world and about the final redemptive plan of God. Revelation is the book of consummation.  In it, the divine program of redemption is brought to fruition.  Although there are numerous prophecies in the Old Testament books, the Gospels and Epistles, Revelation is the only New Testament book that focuses primarily on prophetic events. This book is an unveiling of the character and  program of God.  It is also known as the Apocalypse, a transliteration of the word apokalypsis, meaning unveiling. No prophet under the New Testament is supposed to add unto these things or take away from the words of the book of this prophecy (Rev.22:18-19). The Bible Prophecy concerning prediction is still being fulfilled.  Though many of such prophecies had been literally fulfilled before the earthly ministry of Jesus Christ, certain words of prophecies are yet to be fulfilled.

John the apostle and prophet did not prophesy in the isle of Patmos. He only received a revelation of Christ Jesus and about the end-time events through visions given to him by the Holy Spirit. He recorded in the Revelation what the Holy Spirit commanded him to write to the churches and what he saw in the visions. However, the Old Testament prophets prophesied until John the Baptist. They prophesied during the reigns of the kings of Israel and Judah and during the Babylonian captivity of the Jews.

The Bible Prophecy contains words of divine comfort.  Though many prophetic books under the Old Testament were directed toward the peoples of Israel and Judah, yet the same words of comfort are applicable to the Church, the spiritual Israel. For instance, let us read the words of comfort in the 54^th chapter of Isaiah. Though Isaiah spoke these words of comfort to the Israel, all these words of prophecy can be claimed by us under the New Covenant.

The Bible Prophecy also contains words of exhortation, words of condemnation of sin and of divine judgment on the disobedient and backsliding Israelites.  We should not conclude that these words of warning and of condemnation are meant only for the then nations of Israel and Judah that existed during the Old Testament period, and not for us. The words of warning against idolatry and sins spoken by the prophets to the Israel and to the Gentile nations that existed during the Old Testament period still hold good even today for the whole world.  What we do nowadays is that we conveniently pick up certain words of promises and of comfort but ignore the words of Gods condemnation and judgment on sin.

Bible Prophecy Vs World Religions

God had not revealed to the world any other plan of salvation except redemption through His Son since the ministry of John the Baptist.

God, who at sundry times and in diverse manners spake in time past unto the fathers by the prophets,

Hath in these last days spoken unto us by His Son, whom He hath appointed heir of all things, by Whom also He made the worlds.. (Heb.1:1-3).

God had spoken to our fathers in the past through His prophets at sundry times and in diverse manners under the Old Testament.  But He has spoken to us by His Son in these last days. The period of last days began with the ministry of John the Baptist, the forerunner to Christ. After God had spoken by His Son, He has never again spoken by any other man or any of His angels.   Those religious leaders who appeared in this world after Christ with other divinely inspired messages than the gospel of Christ are false prophets. The Bible Prophecy is a litmus test to expose such religious cults. The Bible Prophecy is tested upon the anvil of the world history.  In other words, the world history is the recorded evidence to prove the prophecies of the Bible.

The Bible Prophecy reveals God and His attributes whereas the so-called divinely inspired religious doctrines do not reveal God and His character as these merely present philosophical thoughts or moral values.  

God still speaks to the world only through Christ Jesus or through Church, the Body of Christ. No man hath seen God at any time; the only begotten Son, which is in the bosom of the Father, He hath declared Him (John 1:18). It is only the Bible Prophecy that reveals Christ, the Son of God, to the fallen human race. The Bible Prophecy is pivotal on the Person of the Son of God, whereas the world religions are pivotal on doctrines of the so-called enlightened men or prophets who had reportedly received divine messages.

Bible Prophecy Vs Personal Prophecy 

The Bible Prophecy is different from a personal prophecy. Apart from the Bible Prophecy, the Old Testament prophets also gave personal prophecies to individuals including kings. For instance, the prophet Nathan prophesied to King David when the latter committed the sin of adultery. Though the New Testament prophets do not make any Bible Prophecy, they make personal prophesies.  Agabus, a prophet of the New Testament did prophesy to the church at Antioch of a famine throughout all the world. Agabus then prophesied to Paul of persecution  in the hands of Gentiles (Acts 11:27-28 & 21:10-11).   

Who are the prophets today? 

(I) Prophets to the world 

A prophet is a messenger of God or a spokesperson of God.  Under the New Testament, a person who has accepted Christ as his/her personal Savior is a prophet of God to the world.  He has Gods message of salvation to the world. He/she has to execute the salvation plan of God revealed through the Blood of Christ Jesus by preaching the gospel. He/she has to give the divine message to the lost.  He/she cannot have a different message of salvation except through the Blood of Jesus Christ.  He/she cannot re-write the Bible Prophecy revealed by God through the Old Testament.  The Old Testament prophets prophesied until John.  A New Testament prophet interprets the same Old Testament Scriptures to reveal Christ Jesus solely on the basis of the four gospels, supported by the apostolic doctrines.

(ii) Prophets to the Body of Christ

Though every disciple of Christ is a prophet of God to the lost world, yet God has appointed to the Body of Christ a special category of ministers, called prophets in the second place.  Their functions are given below:

(i)                  To exhort, edify and warn the people of God (Acts 15:32)

(ii)                To define Gods will in the individual lives of the people of God (Acts 13:1-3)

(iii)               To predict as led by the Spirit on future events (Acts 21:10-11). However, such prophecies should in no way add or take away the words of prophecies in the Book of Revelation but may confirm the words of prophecies in the said Book.

(iv)              To interpret Scriptures including the New Testament books

(v)                To comfort the afflicted people of God

(vi)              To see and interpret prophetic visions (Acts 10:9-16)

(vii)             To condemn sin and convict the people of sin

(viii)           To pronounce divine judgment (Acts 5:1-11)

(ix)              To prophesy in Jesus Name (Matt.7:22).  This means pronouncement of deliverance, miracles, healings, etc. in the Name of Jesus Christ (Mat. 7:22, Acts 3:6, 14:8-10, 16:18). Such prophecies should be only in the Name of Jesus Christ.

(x)                To give timely prophetic messages to the churches or to the members of the Body of Christ (Rev.1:4) in the same manner as John gave to the seven churches in Asia.  Such prophetic messages should conform to the truth of the revealed Word of God. A prophet should visit individual ministers of God or the churches as led by the Spirit. He should not hanker after church pulpits.

(xi)              To reveal the secrets of ones heart so as to bring glory to God (I Cor.14:24)

 Those who prophesy saying, "thus saith the Lord" do so under the Old Covenant. A New Testament prophet need not say, "thus saith the Lord".  God the Father spoke only in His Son and does not speak directly through His prophets under the New Covenant. A New Testament prophet should not add or delete what God the Father spoke through His prophets under the Old Covenant.