BTC Sentiment Poll for July - page 3.

tokeweed

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Quote from: BALIK on July 04, 2024, 09:02:20 AM

Quote from: tokeweed on July 04, 2024, 07:29:19 AM

So the break down below 60k happened but will it stay below it? There are some words swirling around CT that it's the German government that's been selling down BTC. Didn't really follow the news and no idea how they got a huge stack of BTC. But the good news is they'll run out before the month ends. So no... I don't think BTC will stay below 60k for July.

Oh... And let's all root for Spain in the Euros vs Germany! 5 - 0 Spain W one time! Grin

As far as I know, the German government holds 50kBTC and this bitcoin is from their confiscation of the pirated movie website Movie2k. Recently, Arkham reported that the German government transferred a total of 1,300 BTC to Bitstamp, Coinbase, and Kraken. This is not the first time they have sold bitcoin, before that the German government also transferred this bitcoin to the exchange for the purpose of liquidation and the first time was on June 20.

The market has too much bad news but I also believe that this cannot last forever so we should not worry too much. It is inevitable that bitcoin will soon recover and continue to increase in price.

https://x.com/WuBlockchain/status/1808781034210930768

https://blockonomi.com/germany-liquidates-portion-of-50000-bitcoin-seized-from-pirate-website-movie2k/

Ah... So they sent some BTC to an exchange and sold them around June 23 and 24 as we could see the long red candles in the chart. Lol.

I guess the real question now is how much more BTC does the German government hold and how much of it do they intend to sell for July? I don't think they'll just sell everything they have in one go and push the chart down to 22k or something.

Edit: And btw... Justin Sun says he's going to negotiate with the German government to buy their whole stack from them. Not really sure if he's to be taken seriously tho.

Bitwave01

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I joined my senior comrade to say No for an answer, for sounds of bulls are been heard gradually and soon they'll be very loud, the recent buys is a sign of the overall prediction

Wind_FURY

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Quote from: Iranus on July 05, 2024, 04:55:16 AM

Quote from: Dave1 on July 04, 2024, 06:46:02 AM

Quote from: Iranus on July 04, 2024, 05:22:07 AM

Quote from: bbc.reporter on July 03, 2024, 09:14:46 PM

~snip

And as usual, most of the time when we think that we will be in a bullish state, the market goes on the opposite side again. I was also surprised to see the price going to $57k'ish and it looks like very bearish for now. I don't know about the Mt. Gox repayment but if this is the reason why we are bearish then I guess we can't really stop those people from selling their bitcoin and so get their money back after a long time.

So let's see how long this bearish or downward turn will go, hopefully in the next 3 weeks we have bounce back already and let the ghost of Mt. Gox be forgotten and finally laid to rest.

Mt.gox made an official announcement that they will start issuing BTC, and the German government continues to transfer some bitcoin to exchanges. It can be said that we will have a difficult period in the coming days because there will be a large amount of bitcoin sold on the market. Bitcoin immediately reacted to these news and today the price has dropped to $53k, and I think things haven't stopped yet because many people are still waiting for Mt.gox to release BTC to them.

We don't really have anything to be pessimistic about, but like I said, no one wants to see their assets decrease in value so some people will be a little disappointed with what's going on. At the same time, I think this is an opportunity for those who want to buy more bitcoin and this is a really good opportunity. Those who dare to buy bitcoin at this time are the ones who deserve a bigger reward.

Bitcoin is still Bitcoin no matter what the price it's currently in right now, tomorrow, or the next days after that. It's still working, chugging along, producing block after block. It still coheres with its ethos and main value-proposition = censorship-resistance. If the German government doesn't understand that, then it doesn't know Bitcoin's true value, which definitely is higher than the current price once real demand starts to set in.

ndutndut

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Quote from: Iranus on July 05, 2024, 04:55:16 AM

Mt.gox made an official announcement that they will start issuing BTC, and the German government continues to transfer some bitcoin to exchanges. It can be said that we will have a difficult period in the coming days because there will be a large amount of bitcoin sold on the market. Bitcoin immediately reacted to these news and today the price has dropped to $53k, and I think things haven't stopped yet because many people are still waiting for Mt.gox to release BTC to them.

We don't really have anything to be pessimistic about, but like I said, no one wants to see their assets decrease in value so some people will be a little disappointed with what's going on. At the same time, I think this is an opportunity for those who want to buy more bitcoin and this is a really good opportunity. Those who dare to buy bitcoin at this time are the ones who deserve a bigger reward.

The price of bitcoin is currently falling because mt.gox is carrying out massive distribution, plus Germany is selling bitcoin in large quantities, so there is panic among small investors which makes them sell bitcoin. It is true that the current market is difficult to predict, but in my opinion if bitcoin still stays at $52k in the next few days then the market will recover, but if bitcoin falls to $51k, it is very likely that bitcoin will fall back to $49k.

Yes, that is true. In the short term, it is currently difficult to make a profit, but in the long term, this market decline is an opportunity for us to buy at cheap prices and continue to carry out DCA even though prices fall. Because believe that bitcoin will bounce back, this downturn will end in the near future. This is just a personal opinion.

Iranus

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Quote from: Dave1 on July 04, 2024, 06:46:02 AM

Quote from: Iranus on July 04, 2024, 05:22:07 AM

Quote from: bbc.reporter on July 03, 2024, 09:14:46 PM

~snip

And as usual, most of the time when we think that we will be in a bullish state, the market goes on the opposite side again. I was also surprised to see the price going to $57k'ish and it looks like very bearish for now. I don't know about the Mt. Gox repayment but if this is the reason why we are bearish then I guess we can't really stop those people from selling their bitcoin and so get their money back after a long time.

So let's see how long this bearish or downward turn will go, hopefully in the next 3 weeks we have bounce back already and let the ghost of Mt. Gox be forgotten and finally laid to rest.

Mt.gox made an official announcement that they will start issuing BTC, and the German government continues to transfer some bitcoin to exchanges. It can be said that we will have a difficult period in the coming days because there will be a large amount of bitcoin sold on the market. Bitcoin immediately reacted to these news and today the price has dropped to $53k, and I think things haven't stopped yet because many people are still waiting for Mt.gox to release BTC to them.

We don't really have anything to be pessimistic about, but like I said, no one wants to see their assets decrease in value so some people will be a little disappointed with what's going on. At the same time, I think this is an opportunity for those who want to buy more bitcoin and this is a really good opportunity. Those who dare to buy bitcoin at this time are the ones who deserve a bigger reward.

Hallroom

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There is so much Bitcoin price dumping this July that is unimaginable. Bitcoin price is just dumping very fast there is no chance of pumping. The reason why bitcoin prices are dumping now is that governments of various countries are selling bitcoins from their vast reserves of bitcoins, and they are trying to escape the dip. All these reasons are attributed to the current price-dumping of Bitcoin.

yudi09

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Quote from: tokeweed on July 01, 2024, 08:27:50 AM

So yeah, judging from June's sentiment poll, I feel like a lot of you guys have become a bit bearish on BTC. Honestly I do too, but could the recent buy up on BTC for the last couple of days be a sign that the bottom is in? I don't really know.. Lol. But what do you guys think? Below 60k or is the bottom in?

Just like you, I don't really know.
The price of Bitcoin is at a price level below $ 59,000 even on the binance graph I see the lowest point is at $56,771.
But we are still at the beginning of July or the first week of July where there are still a few more weeks before entering August.

Maybe the choice of strengthening answers in my opinion is not with the intention of Bitcoin will not be below the price of $60,000 in July.

tabas

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Quote from: legendbtc on July 04, 2024, 08:11:13 AM

Quote from: tabas on July 04, 2024, 06:49:54 AM

Although it's not surprising for me and I'm not disappointed at all. We have to be patient at these times and we'll get used to this kind of move for Bitcoin. We've got the half remaining of this year for the market to be better and if not, we still have the 2025 for it to be at best shape. By this time, whoever loses his patience becomes the loser and whoever is the most patient becomes the winner. We get this at most times when the market isn't good and holders that have lost theirs will panic sell and won't be focused anymore to their goal of being long term.

In short, in the long run nothing changes, bitcoin will still recover and conquer new ATHs. The only important thing we need to do until bitcoin conquers a new ATH is to be patient and decide not to sell bitcoin even if something worse happens. What's going on is just short-term fluctuations so there's nothing to worry about or get discouraged, Bitcoin is unpredictable and we all know it. We might even be happy to see this if we have faith in bitcoin in the long run as the correction is clearly an opportunity for us to own bitcoin cheaper.

You nailed it. These things have to happen so, if there are some that still can't accept that this is part of the run these drops, crashes, and unexpected dips for them. All they need to do is to just look at that time when it drops and if they can buy, buy, and use that opportunity. Otherwise, they don't need to be worried about it if they're all set with their plans and holding for the long term. Short term period of holding will make you panic but as you've said, people like you and me and the others that have been holding until the next ATH arrives only needs to hold, nothing more, nothing less.

Poker Player

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Quote from: Lucius on July 02, 2024, 06:21:25 AM

I think that we should not expect anything spectacular to happen in the next 2-3 months, and that means that the price should be quite stable in the sense that we should expect changes of 5-10% in both directions. A lot depends on how much BTC will be bought/sold through spot ETFs, and the data shows us that except for the first week of June, which was positive, everything else was an outflow. The first day of July started positively with an inflow of 2000 BTC, which was immediately reflected in the price.

Any specific reason for this time horizon or is it just intuition? I do not dare to put dates, what I do believe is that at some point in the second half of the year will begin the upward trend that will take us to almost $100K, a figure that I think it will be a little difficult to beat because of the symbolism.

Rabata

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This is currently the highest dip since Bitcoin last touched ATH and is very likely to lose more. It was somewhat predictable that the Bitcoin price would dip, but there was no guarantee. Many of us expected the Bitcoin price to fall but not break 60k and then turn bullish again but it didn't. I'm not worried about this dip because if the market is bullish, it will definitely re-energize with a big decline and that energy will increase several times more than before. When the Bitcoin price repeatedly bounced back from 71k, many felt that a fall was needed to re-energize the market and that is currently happening.

BALIK

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Quote from: tokeweed on July 04, 2024, 07:29:19 AM

So the break down below 60k happened but will it stay below it? There are some words swirling around CT that it's the German government that's been selling down BTC. Didn't really follow the news and no idea how they got a huge stack of BTC. But the good news is they'll run out before the month ends. So no... I don't think BTC will stay below 60k for July.

Oh... And let's all root for Spain in the Euros vs Germany! 5 - 0 Spain W one time! Grin

As far as I know, the German government holds 50kBTC and this bitcoin is from their confiscation of the pirated movie website Movie2k. Recently, Arkham reported that the German government transferred a total of 1,300 BTC to Bitstamp, Coinbase, and Kraken. This is not the first time they have sold bitcoin, before that the German government also transferred this bitcoin to the exchange for the purpose of liquidation and the first time was on June 20.

The market has too much bad news but I also believe that this cannot last forever so we should not worry too much. It is inevitable that bitcoin will soon recover and continue to increase in price.

https://x.com/WuBlockchain/status/1808781034210930768

https://blockonomi.com/germany-liquidates-portion-of-50000-bitcoin-seized-from-pirate-website-movie2k/

legendbtc

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Quote from: tabas on July 04, 2024, 06:49:54 AM

Quote from: TravelMug on July 04, 2024, 06:20:28 AM

Quote from: tabas on July 04, 2024, 12:28:07 AM

Don't be confused. We're still in the bull run but the sentiment for these short candles is bearish. Sounds confusing but in the long run, this is still going to be bullish after all. As you've said, this is just a swing and the market are shaking the weak hands for them to sell and when they're done with that, the diamond hands are going to buy them and will hold once again. The month has just started and there's more to go, be patient folks and don't panic.

And when we thought that this month is going to be bullish, the price broke down to $57k already. It was a big surprised as I thought that $60k is going to hold, unfortunately, there is a bearish mentality right now, not sure where and why, but it could steam to the news about the Mt. Gox claims that it will be distributed this month and so maybe many panic and sold their BTC again.

Nevertheless, as you have said, this is just the start of the month, and maybe along the way, we will see some improvement and we might hear some positive news that might turn this bearish sentiments to a more positive and bullish this July.

Although it's not surprising for me and I'm not disappointed at all. We have to be patient at these times and we'll get used to this kind of move for Bitcoin. We've got the half remaining of this year for the market to be better and if not, we still have the 2025 for it to be at best shape. By this time, whoever loses his patience becomes the loser and whoever is the most patient becomes the winner. We get this at most times when the market isn't good and holders that have lost theirs will panic sell and won't be focused anymore to their goal of being long term.

In short, in the long run nothing changes, bitcoin will still recover and conquer new ATHs. The only important thing we need to do until bitcoin conquers a new ATH is to be patient and decide not to sell bitcoin even if something worse happens. What's going on is just short-term fluctuations so there's nothing to worry about or get discouraged, Bitcoin is unpredictable and we all know it. We might even be happy to see this if we have faith in bitcoin in the long run as the correction is clearly an opportunity for us to own bitcoin cheaper.

tokeweed

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So the break down below 60k happened but will it stay below it? There are some words swirling around CT that it's the German government that's been selling down BTC. Didn't really follow the news and no idea how they got a huge stack of BTC. But the good news is they'll run out before the month ends. So no... I don't think BTC will stay below 60k for July.

Oh... And let's all root for Spain in the Euros vs Germany! 5 - 0 Spain W one time! Grin

tabas

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Quote from: TravelMug on July 04, 2024, 06:20:28 AM

Quote from: tabas on July 04, 2024, 12:28:07 AM

Don't be confused. We're still in the bull run but the sentiment for these short candles is bearish. Sounds confusing but in the long run, this is still going to be bullish after all. As you've said, this is just a swing and the market are shaking the weak hands for them to sell and when they're done with that, the diamond hands are going to buy them and will hold once again. The month has just started and there's more to go, be patient folks and don't panic.

And when we thought that this month is going to be bullish, the price broke down to $57k already. It was a big surprised as I thought that $60k is going to hold, unfortunately, there is a bearish mentality right now, not sure where and why, but it could steam to the news about the Mt. Gox claims that it will be distributed this month and so maybe many panic and sold their BTC again.

Nevertheless, as you have said, this is just the start of the month, and maybe along the way, we will see some improvement and we might hear some positive news that might turn this bearish sentiments to a more positive and bullish this July.

Although it's not surprising for me and I'm not disappointed at all. We have to be patient at these times and we'll get used to this kind of move for Bitcoin. We've got the half remaining of this year for the market to be better and if not, we still have the 2025 for it to be at best shape. By this time, whoever loses his patience becomes the loser and whoever is the most patient becomes the winner. We get this at most times when the market isn't good and holders that have lost theirs will panic sell and won't be focused anymore to their goal of being long term.

Dave1

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Quote from: Iranus on July 04, 2024, 05:22:07 AM

Quote from: bbc.reporter on July 03, 2024, 09:14:46 PM

I voted for no yesterday, however, I was very much shocked to see that everyone who voted also voted no with 0 votes on yes hehehe. The contrarian in me wanted to change my vote to yes and it appears that looking at the price of bitcoin at present, we might experience another month of sadness hehehehehee. But I wish we will not dump lower. I do not want to experience depression hehehehe.

Does anyone have news updates to share on why bitcoin is dumping after the halving? I can only find ETF outflows and the investors being afraid on MtGox's distribution to creditors.

It seems like no one wants to see bitcoin fall any further so people choose "no". I haven't voted yet but I still expect bitcoin to go back above $60k soon because if it goes below $56k it won't be good for us.

Bitcoin has dropped to 57k$ and seems to not want to stop yet. Today I was quite surprised when I checked CMC, I also tried to find out if there was any notable news that caused bitcoin's price to drop, but it seemed like there was nothing new. Fud is still swirling around the Mt.gox BTC release and many are saying that the victims have received the BTC and are selling their bitcoins, unlike we think the distribution has not taken place yet. The selling pressure from the victims of Mt.gox is not small and we should be mentally prepared because it will probably continue to get stronger in the near future because they have waited so long to receive compensation and selling is understandable.

And as usual, most of the time when we think that we will be in a bullish state, the market goes on the opposite side again. I was also surprised to see the price going to $57k'ish and it looks like very bearish for now. I don't know about the Mt. Gox repayment but if this is the reason why we are bearish then I guess we can't really stop those people from selling their bitcoin and so get their money back after a long time.

So let's see how long this bearish or downward turn will go, hopefully in the next 3 weeks we have bounce back already and let the ghost of Mt. Gox be forgotten and finally laid to rest.

TravelMug

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Quote from: tabas on July 04, 2024, 12:28:07 AM

We're July 4 and bitcoin's price broke down to $58,500.

Quote from: shinratensei_ on July 03, 2024, 11:11:08 PM

well in june there has been many times where bitcoin price swing from sub $60k to above $70k pretty much the market right now confused whether it's gonna be bearish or bullish.
I kinda expect it though, previous bullrun too bitcoin has its share of price swing to make people with weak hand sell their bitcoin because before every attempt of bullrun there's always accumulation zone.

the fact that ETF outflow increased after experiencing 1 day increase means that the market just pretty much trying to discover to market sentiment, however i'm expecting Ethereum ETF to turn the table in this correction. wonder why the effect of ETH ETF hasn't taking effect yet.

Don't be confused. We're still in the bull run but the sentiment for these short candles is bearish. Sounds confusing but in the long run, this is still going to be bullish after all. As you've said, this is just a swing and the market are shaking the weak hands for them to sell and when they're done with that, the diamond hands are going to buy them and will hold once again. The month has just started and there's more to go, be patient folks and don't panic.

And when we thought that this month is going to be bullish, the price broke down to $57k already. It was a big surprised as I thought that $60k is going to hold, unfortunately, there is a bearish mentality right now, not sure where and why, but it could steam to the news about the Mt. Gox claims that it will be distributed this month and so maybe many panic and sold their BTC again.

Nevertheless, as you have said, this is just the start of the month, and maybe along the way, we will see some improvement and we might hear some positive news that might turn this bearish sentiments to a more positive and bullish this July.

Iranus

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Quote from: bbc.reporter on July 03, 2024, 09:14:46 PM

I voted for no yesterday, however, I was very much shocked to see that everyone who voted also voted no with 0 votes on yes hehehe. The contrarian in me wanted to change my vote to yes and it appears that looking at the price of bitcoin at present, we might experience another month of sadness hehehehehee. But I wish we will not dump lower. I do not want to experience depression hehehehe.

Does anyone have news updates to share on why bitcoin is dumping after the halving? I can only find ETF outflows and the investors being afraid on MtGox's distribution to creditors.

It seems like no one wants to see bitcoin fall any further so people choose "no". I haven't voted yet but I still expect bitcoin to go back above $60k soon because if it goes below $56k it won't be good for us.

Bitcoin has dropped to 57k$ and seems to not want to stop yet. Today I was quite surprised when I checked CMC, I also tried to find out if there was any notable news that caused bitcoin's price to drop, but it seemed like there was nothing new. Fud is still swirling around the Mt.gox BTC release and many are saying that the victims have received the BTC and are selling their bitcoins, unlike we think the distribution has not taken place yet. The selling pressure from the victims of Mt.gox is not small and we should be mentally prepared because it will probably continue to get stronger in the near future because they have waited so long to receive compensation and selling is understandable.

tabas

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We're July 4 and bitcoin's price broke down to $58,500.

Quote from: shinratensei_ on July 03, 2024, 11:11:08 PM

well in june there has been many times where bitcoin price swing from sub $60k to above $70k pretty much the market right now confused whether it's gonna be bearish or bullish.
I kinda expect it though, previous bullrun too bitcoin has its share of price swing to make people with weak hand sell their bitcoin because before every attempt of bullrun there's always accumulation zone.

the fact that ETF outflow increased after experiencing 1 day increase means that the market just pretty much trying to discover to market sentiment, however i'm expecting Ethereum ETF to turn the table in this correction. wonder why the effect of ETH ETF hasn't taking effect yet.

Don't be confused. We're still in the bull run but the sentiment for these short candles is bearish. Sounds confusing but in the long run, this is still going to be bullish after all. As you've said, this is just a swing and the market are shaking the weak hands for them to sell and when they're done with that, the diamond hands are going to buy them and will hold once again. The month has just started and there's more to go, be patient folks and don't panic.

edward500

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As someone who has been worried about the Mt Gox coins hitting the market for a long time, this is the reason why bitcoin keeps dropping.

There are just too many coins going to hit the market in a short period of time to sustain these high bitcoin prices.

Many people also requested their mt gox coins in cash, this means the settlement lawyers will have to sell coins to get cash to pay these people.

Price will stay low until the settlement coins are distributed.

Out of mind

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Quote from: tokeweed on July 01, 2024, 08:27:50 AM

So yeah, judging from June's sentiment poll, I feel like a lot of you guys have become a bit bearish on BTC. Honestly I do too, but could the recent buy up on BTC for the last couple of days be a sign that the bottom is in? I don't really know.. Lol. But what do you guys think? Below 60k or is the bottom in?

Here's the monthly chart... It still doesn't look all that bad imho.

Yes, the July sentiment poll has yet another Bitcoin market downtrend. Although the Bitcoin market was above $60,000 before July, the Bitcoin market has tilted slightly lower since July. I see the Bitcoin market today it touched, $57000 which looks very bearish market. Currently, I think that since the Bitcoin market has come down a bit, it may take some time to go back above $60k. But this week the Bitcoin market may come down further, but the next week the Bitcoin market may show some regret of the increase.

Topic: BTC Sentiment Poll for July - page 3. (Read 955 times)