BTC Sentiment Poll for July - page 4.

shinratensei_

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Quote from: Hallroom on July 03, 2024, 06:40:19 AM

June was a bad time, and following June, July saw a dip in Bitcoin prices. However, on the first day of July, Bitcoin touched $63k and for a very short time. But we can expect this in the long run but whale investors are still in a bearish fear. Because there are many traders who want to survive the dip, and some investors to sell bitcoins from their huge reserves. Due to all these factors, the Bitcoin market is showing low momentum.

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.

bbc.reporter

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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.

fuguebtc

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Quote from: AprilioMP on July 03, 2024, 03:59:46 AM

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.

In July, I still used DCA.
I voted no on the OP's question in the voting because I think $60K is still a price that will persist this month amidst the issue of Mt.Gox which is still hotly discussed because it plans to distribute coins in July.

At first glance I'm still not sure $60K is the bottom. If $60k was the low, then $75k was the high for July.

After 3 months since the halving completed, the goal of $75k is getting further and further away from us so I think there will no longer be many people who are bullish and believe that we can see $75k this month. Even the OP changed the target of the monthly poll Grin

.
The Mt.gox news isn't over yet and people are still worried about it so I'm guessing bitcoin will continue to move sideways in the $60k area for a while longer before a trend reversal occurs.

I also voted no because I believe we have bottomed out for this correction and it happened in May. Soon, we will enter a bullish cycle as many expect, IMO.

Sorryfor

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I saw that the price of Bitcoin was at a bit of a high in June but currently the price of Bitcoin is not that high at the beginning of July. The position of Bitcoin this month seems to indicate that the Bitcoin market is likely to go further down. Right now the Bitcoin market is in the $60k range, not much of a bullish market position. But I think the price of Bitcoin will probably pump a lot more in the next month as the bull season is very close. But this month Bitcoin price may go below $60000 even though it came below $60000 today so it is likely to come down further in the following days.

Hallroom

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June was a bad time, and following June, July saw a dip in Bitcoin prices. However, on the first day of July, Bitcoin touched $63k and for a very short time. But we can expect this in the long run but whale investors are still in a bearish fear. Because there are many traders who want to survive the dip, and some investors to sell bitcoins from their huge reserves. Due to all these factors, the Bitcoin market is showing low momentum.

EluguHcman

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Quote from: Nwada001 on July 01, 2024, 08:38:15 AM

I'm still very bullish on the market, just like last month. Bitcoin has had a rough week, and I think it's time for it to remain positive for the most part.

Is it possible for investors who bought Bitcoin within the couple of months now or since the halving to be excited of saying the market has been bullish?

The market value somewhere last month was around $58-$59K which seems the bottom downtrend ever since the current ATH and then, it has been fluctuating around $60K + with just little margins.

I have actually been DCAing since the halving and being sincere, I am being sentimental with the current market volume which I can not say that I am being bullish like you do rather I am experiencing a bearish in the current market trends.

So i hope to see the market price to approach the latest ATH before I can feel it bullishness.

Dave1

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Quote from: tokeweed on July 02, 2024, 08:05:18 AM

^ Yeah... And a couple of guys itt said that BTC could go below 60k but it prolly won't stay there for long as it's a point where everybody starts buying it up. And I gotta say, it's hard to disagree.

And the votes are 0 - 7 just on the first day. Lol. I don't think you guys have voted this unanimously before.

Anyway, it looks like it's gonna go on a small sell down before going back up again... Stay safe out there guys.

I also voted for no as well, and so I will go with the unanimous decision here, Lol. But right now, we are down like -3% in the last 24 hours. Might be a bad sign, but we are still very early for this month and so anything goes moving forward.

Hopefully, we might not fall, and the support in the $60k'ish is very strong as it hasn't been broken down although there was one time but we quickly got up as high as $63k but quickly goes down again.

AprilioMP

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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.

In July, I still used DCA.
I voted no on the OP's question in the voting because I think $60K is still a price that will persist this month amidst the issue of Mt.Gox which is still hotly discussed because it plans to distribute coins in July.

At first glance I'm still not sure $60K is the bottom. If $60k was the low, then $75k was the high for July.

retreat

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I think that the Bitcoin price movement is not much different from last month, it still tends to be sideways, but I am sure that the Bitcoin price will not drop below 60k, but it will remain in the 62k - 67k range this month. Even though there is a chance that Bitcoin could drop below 60k, the chance is not too big, and even if it breaks 60k it will recover quickly, because there are still many investors who will accumulate in that position. Let's just see how bitcoin prices move this month.

tokeweed

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^ Yeah... And a couple of guys itt said that BTC could go below 60k but it prolly won't stay there for long as it's a point where everybody starts buying it up. And I gotta say, it's hard to disagree.

And the votes are 0 - 7 just on the first day. Lol. I don't think you guys have voted this unanimously before.

Anyway, it looks like it's gonna go on a small sell down before going back up again... Stay safe out there guys.

Lucius

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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.

Quote from: uneng on July 01, 2024, 05:00:04 PM

Does anyone know if Mt. Gox is going to liberate the 9$ billion dollars in crypto at once? Or is it going to be done progressively along the next months?
~snip~

As far as I know, the payments will take place over several months, and then this should not have a negative impact on the price. In addition, someone has already written in a discussion that even if that amount of BTC were put on the market in one day, it should not be a problem considering that on a daily basis BTC is traded amounting to several tens of billions of dollars.

Mt.Gox actually has more of a psychological effect than anything else, but unfortunately most investors behave like a herd that is easy to steer in a certain direction.

Bd officer

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No, I don't think it will come below 60k this July. The price of Bitcoin fell to $58k last month. Crossed $60K before the end of June. Yesterday was about 64k, today is 62k plus. I don't think bitcoin price will go below 60k this month, may stay between $64-70k this month. We will soon see the bull run. Bitcoin is going to be $70k plus again soon.

TravelMug

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I voted for NO. I don't think that we will slide and go down below $60k this month. We've seen the market already recovered to $63k and could stay there for a while as investors might see that this is the perfect time to at least continue to accumulate and not let some bad news dominate the market and cast a doubt. And usually if June is a bad month, July is the month that we might see a huge jump and be let us know that bull run is already here.

So let's see, everyone seems to be very positive already and hopefully it will translate o the market itself. It's true that market could have been manipulated and dominated by whales and institutions, but I tend to agree that we have more influencer here, average joe investors and traders as we can outgrow those whales in the long run.

Popkon6

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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.

Although the unique month saw the biggest increase in Bitcoin price, the movement of Bitcoin in this month of July is comparatively different. Because it is normal for Bitcoin to dump before a bull market, Bitcoin price dumping is certainly a sign that the maximum upside is likely.

Quote from: Glen Hoddle on July 01, 2024, 12:45:03 PM

Bitcoin price is currently improving and will continue to improve, starting pumping this July. Because the bull run in 2025 will show signs of Bitcoin price corruption from now on. But the price of Bitcoin will definitely reach the highest level, and create an all-time high that will be recorded in history. A sign of the dumping of this Bitcoin price is that the government of the USA transferred assets equivalent to 240 million dollars by selling the coins.

That is why currently Bitcoin has been dumping a lot in June which has touched 60 thousand dollars from 70 thousand dollars. And again, this is a great opportunity for investors, so there are currently signs that the price of Bitcoin will reach its maximum target this July.

At present the Bitcoin market is under the control of investors, as investing now will surely bring maximum opportunities. As for what we can identify as the bull run in 2025, some bull runs have been held in the past. However, looking at the movement of Bitcoin this July, I can guess that the maximum target will definitely be more likely to be reached. Bitcoin price has been hovering between $70K and $60K for a long time. It is from this stage that the Bitcoin price is most likely to advance to the highest level.

uneng

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Does anyone know if Mt. Gox is going to liberate the 9$ billion dollars in crypto at once? Or is it going to be done progressively along the next months?

My fear regards July is that too many Bitcoins are put for sale simultaneously by Mt. Gox's refunded customers, US and Germany governments, and many panic sellers.

News just state redistribution by Mt. Gox is going to happen in early July, but no accurate dates are shared. It just gives opportunity to speculators who have access to inside informations to take advantage of this fragile moment of Bitcoin market.

JoyMarsha

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The crypto market is pretty unpredictable. The last two weeks of June had bitcoin in a bearish state, and we thought that the price would dip in July to bring bitcoin down to $59k below to bring more FOMO in the market.

Reaching the first day of July, bitcoin is on the high side. Increasing instead of decreasing as many had anticipated because of MtGox sales that will happen this July.

However, this is the beginning of the month, and we can not draw our conclusion on it yet because nobody can predict how the bitcoin price will roll out in July whether bitcoin will increase above $75k or fall below $60k before the end of July.

khiholangkang

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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.

I'm more looking at maybe forming a triangle before experiencing a significant increase, maybe bitcoin will move between 60$K-$65K if he wants to form a triangle bar, but the needle can be more than $65 or below $60k again.

Looking at the sentiment that Mt.gox is talking about, the US and Germany are selling their confiscated bitcoins, and this might be a heavy sentiment that we will go through in July and it might push bitcoin's way to get a bullish position, maybe we will find it at the end of July.

Let's see how the market responds if the storm comes, whether it immediately bounces back as before and the support at the $55k-$60k price level will not be touched again for the next few weeks in July.

ShowOff

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Now is not the time to think that bitcoin prices will fall back below $60k and stay there. I chose no on the pool because I am optimistic about the price recovery, maybe $65k was the initial target in July, but also $70k. I guess this is reasonable to expect, but there shouldn't be any truly annoying FUD.

There was a double top on the weekly TF, but I don't think this is a guarantee that shows where the price is actually going. Apart from these indicators, the price could rise and recover better to the level of $70k or above $65k in early July. I expect a recovery in July instead of a deeper correction. The lowest price in June was $58,400, now the market has shown its recovery action.

Glen Hoddle

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Bitcoin price is currently improving and will continue to improve, starting pumping this July. Because the bull run in 2025 will show signs of Bitcoin price corruption from now on. But the price of Bitcoin will definitely reach the highest level, and create an all-time high that will be recorded in history. A sign of the dumping of this Bitcoin price is that the government of the USA transferred assets equivalent to 240 million dollars by selling the coins.

That is why currently Bitcoin has been dumping a lot in June which has touched 60 thousand dollars from 70 thousand dollars. And again, this is a great opportunity for investors, so there are currently signs that the price of Bitcoin will reach its maximum target this July.

Popkon6

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Bitcoin price was heavily dumped in June and the highest dumping for the current period. But today since July 1st Bitcoin price is showing signs of upside, and currently Bitcoin price has touched up to $63k. And very soon Bitcoin price will likely touch 75k, as signs will surely appear after long dumping.

Topic: BTC Sentiment Poll for July - page 4. (Read 969 times)