People having bearish taught is not really that important in bitcoin world. Normally what the price is decided is what people think it will do, because when people think it will go up they buy and because they buy it goes up, and when they think it goes down they sell so the price should go down.
However, even though that should be what happens, the reality is that there could be thousands upon thousands of people who do trades according to their feelings, there comes one or two whales who do thousands of bitcoins worth of trades and then it moves to another direction, so people sell because they think it will go down then a whale buys a bunch and it goes up or people think it will go up so they buy but a whale comes up and sells even more so it goes down.
Topic: BTC bearish sentiment breaks 2018 levels & folks start calling the bottom - page 2. (Read 349 times)
September 28, 2019, 08:48:57 AM
September 28, 2019, 01:47:19 AM
that really isn't a good metric to look at. there are certain times where bitcoin price makes an unpredictable move like the past couple of days or the start of this year when it went below $6k and it surprises everyone so there is obviously a lot more topics being created about "the bottom" and the "sentiments", etc. but it really doesn't show anything about the actual "market sentiment" which can be anything even if the topics say something else.
September 27, 2019, 06:13:08 PM
I must say the forum here also is beginning to see some of the doomsayers come out more actively with their "I told you sos". Usually this is a good time for me to whip out my invoice book and start chasing debts;)
This forum is a great representation of the overall crypto market in terms of measuring the sentiment. I however don't think that it means the bottom is in or that we're near a bottom, so I would wait a bit before jumping in.Bearish sentiment can drag on for months straight where the sentiment turns worse each month that goes by. I really think we have to see some form of capitulation selloff before going back up again.
I also want to see the mainstream media like CNBC turn bearish for some time to actually be more comfortable about the current price action. Lately, they have been extremely bullish and we saw what the price did....
September 27, 2019, 11:21:34 AM
New metric for me, but I wonder if there's data that stretches back farther than that? I'd love to see 2016 when I properly entered, cause I remember a lot of no hopers and people trying to convince me I missed out already and was too late.
I must say the forum here also is beginning to see some of the doomsayers come out more actively with their "I told you sos". Usually this is a good time for me to whip out my invoice book and start chasing debts;)
I must say the forum here also is beginning to see some of the doomsayers come out more actively with their "I told you sos". Usually this is a good time for me to whip out my invoice book and start chasing debts;)
September 27, 2019, 10:44:23 AM
I don't think the market has bottomed yet based on the price action but that could be an indication we're getting close.
I also do not, I would not be surprised with figures below the $7k mark. But I do think that whatever bottom the value settles at would be a historic level, and we would not go below that again after the price bounces back from this period of dip.
September 27, 2019, 10:31:09 AM
Bearish sentiment across Twitter, Reddit & Bitcointalk not been that high since Dec 2018!
And folks start calling the bottom:
And folks start calling the bottom:
Thanks for sharing. It does look like bearish sentiment is approaching December 2018 levels. I don't think the market has bottomed yet based on the price action but that could be an indication we're getting close.
Does Augmento have any free data feeds? The site is hard to navigate.
September 27, 2019, 09:48:56 AM
Bearish sentiment across Twitter, Reddit & Bitcointalk not been that high since Dec 2018!
And folks start calling the bottom:
https://i.imgur.com/9qZR4Ta.png
And folks start calling the bottom:
https://i.imgur.com/9qZR4Ta.png
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