Topic: BTC Sentiment Poll for July (Read 568 times)

And if anything, it's looking like it could get worse. I remember around Dec 2018 when we all started to think BTC was all stable and out of nowhere it started to go down from 6k to 3k in a couple of days. Lolol. Same thing with the drop of Jan 2015, from 300 to 150.

I also remember last year most people (including myself) expecting $100K prices, but that never happened. I also remember in 2018 when it seemed like Bitcoin was stable, and most people thought the bottom was in, prior to price dropping in half. To me there is more significance to the fact that price didn't reach $100K last year and $6K wasn't the bottom in 2018 despite most people thinking this would be the case.

Currently it seems clear that most people are expecting another drop, towards $12K or similar. If history repeats itself, then most will get it wrong. I'd generally be a lot more concerned about a big drop if most people thought the bottom was in already, but given that most seem to think the bottom isn't in, mainly as they are convinced as negative CPI and fed rates will cause prices to drop further.

But those 50% drops marked the bottom tho. So be on the look out for that this time around too.

I agree here, Bitcoin quickly dropping 50% within a matter of weeks after months of price stability is usually a good indicator of a bottom being formed. Ironically, this has already happened, even if it can happen again:

I'm not saying this is the bottom, but just referencing that if you're looking for that quick 50% drop for a bottom to form then look no further...

I think we're past the point when BTC could 'quickly drop' 50%. What could start happening is we get these dead cat bounces and slowly go back down lower and lower just like 2018. It could be different this time around but then again it could be the same as always. I have seen the same people saying the same thing they did at 2018 as they do today... They love saying we hit bottom and it's up only from here but then it drops lower. :/

Yamifoud

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I feel like it's gonna be ranging between 18k - 22k from here on out for as long as it could and it'll just wait for something to happen.. A catalyst to put it back in bull mode. Whatever that may be, I don't think it's coming this year. And if anything, it's looking like it could get worse. I remember around Dec 2018 when we all started to think BTC was all stable and out of nowhere it started to go down from 6k to 3k in a couple of days. Lolol. Same thing with the drop of Jan 2015, from 300 to 150.

The price of Bitcoin doesn't move far, May, June, and until today we have never seen it surpass $23k. I'm predicting that we still stay in that position and price range for this month of July. And I was also thinking this even be the price we saw for this quarter. Well, I have no problem dealing with this situation as for me even if it reaches back and remains at $18k, that is still far from what we had experienced during the last bear season. I couldn't think that gonna happen again knowing that people had already learn how to control their emotions.

dragonvslinux

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And if anything, it's looking like it could get worse. I remember around Dec 2018 when we all started to think BTC was all stable and out of nowhere it started to go down from 6k to 3k in a couple of days. Lolol. Same thing with the drop of Jan 2015, from 300 to 150.

I also remember last year most people (including myself) expecting $100K prices, but that never happened. I also remember in 2018 when it seemed like Bitcoin was stable, and most people thought the bottom was in, prior to price dropping in half. To me there is more significance to the fact that price didn't reach $100K last year and $6K wasn't the bottom in 2018 despite most people thinking this would be the case.

Currently it seems clear that most people are expecting another drop, towards $12K or similar. If history repeats itself, then most will get it wrong. I'd generally be a lot more concerned about a big drop if most people thought the bottom was in already, but given that most seem to think the bottom isn't in, mainly as they are convinced as negative CPI and fed rates will cause prices to drop further.

But those 50% drops marked the bottom tho. So be on the look out for that this time around too.

I agree here, Bitcoin quickly dropping 50% within a matter of weeks after months of price stability is usually a good indicator of a bottom being formed. Ironically, this has already happened, even if it can happen again:

I'm not saying this is the bottom, but just referencing that if you're looking for that quick 50% drop for a bottom to form then look no further...

Wind_FURY

legendary

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My vote is NO! Expectations for 75 BPS rate hike is currently a possbility, very close to 100%, BUT Bitcoin might have priced it in after the Fed's 9.1% CPI print during Wednesday. There will also be no more increases in the interest rates until September, the next FOMC meeting. Buy the DIP, and? Cool

ShowOff

legendary

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$18k is still a bear price for the end of the month, it may still go further down by the day since it is still the trend. The price today seem a little stable and better, no high fluctuations. The range is oversold from RSI but I think the market is taking some time to begin uncertainty and the rush for buy will take price up back.

True, the downtrend is still continuing and that makes it difficult for the price to reach the $25K resistance. I'm not so sure about $18K at the end of July, but it actually makes sense to put it at a good price for the current trend. I'm still waiting for the best time to buy, while at this point I'm pretty sure it wouldn't be the right time to do it if DCA wasn't in my mind. So going to be a little more relaxed for now and wait for when I have to spend out some money to buy some.

fortuner

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Quote from: GreatArkansas on July 12, 2022, 10:00:08 PM

Maybe I would have thought the end of July the bitcoin price would close at around $18K, but who knows?

$18k is still a bear price for the end of the month, it may still go further down by the day since it is still the trend. The price today seem a little stable and better, no high fluctuations. The range is oversold from RSI but I think the market is taking some time to begin uncertainty and the rush for buy will take price up back.

After failing to break the $21K price resistance, the bitcoin price has fallen back to its current low price, the negative sentiment that continues to hit bitcoin seems to make us have to be patient to see another upside, but I'm personally quite optimistic that bitcoin won't fall more than $17K and that's why my belief is still big if bitcoin is still a good enough investment for the long term.

tokeweed

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I feel like it's gonna be ranging between 18k - 22k from here on out for as long as it could and it'll just wait for something to happen.. A catalyst to put it back in bull mode. Whatever that may be, I don't think it's coming this year. And if anything, it's looking like it could get worse. I remember around Dec 2018 when we all started to think BTC was all stable and out of nowhere it started to go down from 6k to 3k in a couple of days. Lolol. Same thing with the drop of Jan 2015, from 300 to 150.

But those 50% drops marked the bottom tho. So be on the look out for that this time around too.

xSkylarx

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Bitcoin is back to $19k now after failing to break the $21k resistance few days ago so it's really hard to tell if below $15k could happen this month. As long as US doesn't report a higher inflation on their next CPI review then I think we'll be stable at this price until the end of the month. One thing I'm sure is that we haven't hit the bottom yet but it will happen this year or early next year.

Reatim

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While there are several posts and thread that I come across bringing this to possibly happening soon? yet i come not to believe because of how bitcoin perform these days.

though falling below 20k from time to time at least managing to keep that strong hold and not falling below 17k up to now.

so basically i think we will keep this strong holding till next month or till 4th quarter?

Kemarit

legendary

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Maybe I would have thought the end of July the bitcoin price would close at around $18K, but who knows?

$18k is still a bear price for the end of the month, it may still go further down by the day since it is still the trend. The price today seem a little stable and better, no high fluctuations. The range is oversold from RSI but I think the market is taking some time to begin uncertainty and the rush for buy will take price up back.

$18,000 for me is strong support, once it will be broken below, then I am expecting there will be a very drop around almost $15,000. This is already proven before when we started to follow below $25,000 and $20,000. The pressure of selling is very huge. But for July? I am not expecting we will fall this July on $18,000 or even worst is around $14,000.

Yeah, it seems that it is holding right now. Actually, $19,000 is, we haven't go down that price this July so let's see how it goes, we still have two weeks and hopefully nothing drastic will happen on the price and push it to below $19,000 otherwise, it will be an avalanche of sellers again, who are afraid of the declining market. Let's just stay positive, again two weeks is a long time, but hopefully we can go back to $20,000 at least before the end of this month.

GreatArkansas

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Maybe I would have thought the end of July the bitcoin price would close at around $18K, but who knows?

$18k is still a bear price for the end of the month, it may still go further down by the day since it is still the trend. The price today seem a little stable and better, no high fluctuations. The range is oversold from RSI but I think the market is taking some time to begin uncertainty and the rush for buy will take price up back.

$18,000 for me is strong support, once it will be broken below, then I am expecting there will be a very drop around almost $15,000. This is already proven before when we started to follow below $25,000 and $20,000. The pressure of selling is very huge. But for July? I am not expecting we will fall this July on $18,000 or even worst is around $14,000.

palle11

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