BTC Sentiment Poll for July | Bitcointalksearch.org

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Quote from: AirtelBuzz on July 31, 2024, 10:53:41 PM

Volatility prevails everywhere in the crypto market. Constantly fluctuating Bitcoin prices may be a common market phenomenon. We have seen the highest increase in Bitcoin price this year and the biggest decrease in Bitcoin price in July. Bitcoin price fell to a low of $54,000 during the month which was the lowest price since Bitcoin price touched the new ATH, which can be considered as a market correction.

I am glad that this did not turn out to be an issue at all, I was afraid that it would have become an issue, but it did not. We did break under 60k and that was scary for a lot of people who decided about selling, well we did go under 60k BECAUSE they sold, so it was definitely a period where a lot of people had fear, but it was clear that we would go back up. Which we did, and even peaked above 70k as well, we are not there anymore I can see that but we are dealing with a good result right now.

We need to realize that things will do fine no matter what happens, that's just the way it is. For that reason I believe that we are going to end up with a good result eventually, we just need to give it time. I am glad that July ended fine, because now in August and if it was still not above 60k, then there could be a lot more people who were afraid and it could have been harder for price to go back up, quicker recovery is always better.

Quote from: AirtelBuzz on July 31, 2024, 10:53:41 PM

By the way, Since this topic is July's Bitcoin Sentiment Poll, the OP should lock it and open a new topic for BTC Sentiment poll.

Surprisingly tokeweed hasn't opened a new topic for this August. I guess some other smarty might make use this gap Wink

.

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Quote from: Jating on August 01, 2024, 06:57:51 AM

I'm still very much positive though that this August, we might finally see $70k and sustain it's run. I don't know, but I have a gut feeling that investors and the bulls are already preparing big for this month and we may very well on the way to have a good bounce back and this could be the start of something big until the end of the year.

I would like to say frankly that it is not your feeling but your expectation as well as all of ours. It can be said that up to now, there are not too many people who want bitcoin to decrease further, most want bitcoin to increase and want a crazy bull season to come. Because everyone has been waiting for this for so long, there is nothing wrong with us starting to get optimistic once the halving is complete.

But we also need to be realistic that everything is unpredictable in the short term. Historically, August or September are not good months for the market so anything can happen. Therefore, we should not be disappointed if things do not turn out as we expected.

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Quote from: GeorgeJohn on July 26, 2024, 02:18:12 PM

Right now we will say that bitcoin is at the positive side, because the values of Bitcoin is getting more increase, but I will say last month it seems that the bullrun was at positive more than this month and two months before bitcoin price price was at the pric of seventy-five thousand, but is not getting more increase to be higher than when the price was at seventy thousand to seventy-five thousand, but right now the price is within the range of sixty six thousand, but is still at valuable value, so the good thing is that bitcoin is still in range of bullrun instead of bearish season.

Yes, as per date, we ended the month of July in green candle, so that is already good in my opinion. Although we have touch $70k like 2 days before the end of the month. Unfortunately, there could news that really affected the market again and see the price goes to $64k. I thought we are going to sustain a run already, but I guess it's too early to see $70k++ again.

I'm still very much positive though that this August, we might finally see $70k and sustain it's run. I don't know, but I have a gut feeling that investors and the bulls are already preparing big for this month and we may very well on the way to have a good bounce back and this could be the start of something big until the end of the year.

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Quote from: Popkon6 on July 31, 2024, 07:12:04 PM

Today is the last day of July, so this July saw the most Bitcoin price dumping. Because the price of Bitcoin was touching $54K, and from there the price of Bitcoin pumped to touch $70K.

Volatility prevails everywhere in the crypto market. Constantly fluctuating Bitcoin prices may be a common market phenomenon. We have seen the highest increase in Bitcoin price this year and the biggest decrease in Bitcoin price in July. Bitcoin price fell to a low of $54,000 during the month which was the lowest price since Bitcoin price touched the new ATH, which can be considered as a market correction.

Quote

Because of this huge Bitcoin price gap, it was possible to make the most profit if you invested at the right time. But it is uncertain how the price of Bitcoin will change again in the month of August.

It was unimaginable, because we saw a sudden fall in the market. We spent several days in market dips, even lasting for a few days, as the price of Bitcoin dropped. Those who took advantage of this opportunity to invest may have got the results they expected after the Bitcoin price went up. At the end of July, we saw the price of Bitcoin at $66,000, but today, on the first day of August, the price of Bitcoin has dropped from there to $63,000, which is a partial decline.

By the way, Since this topic is July's Bitcoin Sentiment Poll, the OP should lock it and open a new topic for BTC Sentiment poll.

Popkon6

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Today is the last day of July, so this July saw the most Bitcoin price dumping. Because the price of Bitcoin was touching $54K, and from there the price of Bitcoin pumped to touch $70K. Because of this huge Bitcoin price gap, it was possible to make the most profit if you invested at the right time. But it is uncertain how the price of Bitcoin will change again in the month of August.

But since we are currently in the pre-start of the Bitcoin bull run, it is time for the market to correct. So it is normal for the Bitcoin market to up and down, as the current dip is ongoing, the possibility of a further pumping high and hitting new prices is high even if the price of Bitcoin falls in early August.

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Right now we will say that bitcoin is at the positive side, because the values of Bitcoin is getting more increase, but I will say last month it seems that the bullrun was at positive more than this month and two months before bitcoin price price was at the pric of seventy-five thousand, but is not getting more increase to be higher than when the price was at seventy thousand to seventy-five thousand, but right now the price is within the range of sixty six thousand, but is still at valuable value, so the good thing is that bitcoin is still in range of bullrun instead of bearish season.

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Quote from: STT on July 24, 2024, 07:37:34 PM

The news just confuses me more often, also its got a lagged effect to it and some people know the news before others. I'm just noticing sustained weakness now, after we came so close to touching 70k. Right now today we cross below the weekly average, previously we looked to be challenging and then set to rise back but its resolved downwards.

News context for me would be the main markets selling off tech today, generally some reflection of less speculative sentiment willing to bid up prices. Its very general my take on news though, I do consider the whole of summer a quieter period.

It's really the news that has been affecting the price recently, specially the US elections. And when we thought that the Mt. Gox repayment had a negative effect, the market didn't nosedived but we go down a bit to $64k. But now we have the Bitcoin conference, and I think this is the news that suddenly pump the price as Donald Trump, is going to speak.

So that's where the confusion, and even if we do technical analysis, it's really very hard to tell where it will go because the political news in the US is hugging the limelight and so it affected a lot of market, not just crypto in general.

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Quote from: STT on July 24, 2024, 07:37:34 PM

The news just confuses me more often, also its got a lagged effect to it and some people know the news before others. I'm just noticing sustained weakness now, after we came so close to touching 70k. Right now today we cross below the weekly average, previously we looked to be challenging and then set to rise back but its resolved downwards.

News context for me would be the main markets selling off tech today, generally some reflection of less speculative sentiment willing to bid up prices. Its very general my take on news though, I do consider the whole of summer a quieter period.

There isn't really anything you need to be worried about, it is not really that shocking, when price goes up a lot that means there are people who are willing to sell to take profit, when they do that means all the long futures will be cashed out and when that happens all the stop loss will be hit etc etc.

As you can see, when it goes down even a bit, it goes down a lot easier because of many other stuff, it is like an avalanche so to speak, a small ball rolling could cause the whole mountain to come down, not saying that will happen, but it is not impossible neither and we need to be careful of that. This is why I honestly expect the situation to change a bit, and I am sensing that we are going to end up with a bigger fall as well. The trick is that, when it doesn't go down, and when it stops going down, just for a while, that means all the bear is done, and all the sellers are gone, and all the automatic deals are done, and we are ready to go up.

At that moment, we can go up so much more, hence why bitcoin always goes up on the long run, sure it goes down in between, but long term it always breaks its own ATH after a while. That's what I think will happen, some drops happen sure, but we will go up above ATH again.

STT

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The news just confuses me more often, also its got a lagged effect to it and some people know the news before others. I'm just noticing sustained weakness now, after we came so close to touching 70k. Right now today we cross below the weekly average, previously we looked to be challenging and then set to rise back but its resolved downwards.

News context for me would be the main markets selling off tech today, generally some reflection of less speculative sentiment willing to bid up prices. Its very general my take on news though, I do consider the whole of summer a quieter period.

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Quote from: STT on July 16, 2024, 10:50:20 AM

BTC is thoroughly confusing, its now rushed back to the 50 day average. However just to confuse you more, the 50 day average is descending which to me says we have further selling still before any grander positive move.

Dont take the singular trend line, its more diverse then just a simple trend like that. We remain bullish in a wider view and that hasnt been compromised by hesitancy of the last few months. If anything to stay buoyant far higher then last years prices for example should get a green tick every day even if we take some profits that day, week etc.

when confused, take a look into the upcoming news, I think it works wonder at times like this Cheesy

, based from time when i reply right now, the entire market changing direction to bullish after there are many good news relating to BTC that appear.

the good thing right now is that, we've past the dumping and has made successful recovery,with all the big player like black rock bagging BTC the direction that BTC gonna take become clear and obvious.
the community is so pumped with acknoledgement of BTC lately, the price indicates that we maybe gonna go for another rally and the bad news like mt gox and german government are done with their dumping, it's pretty obvious.

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Quote from: Kemarit on July 19, 2024, 08:31:33 AM

Quote from: tokeweed on July 19, 2024, 07:58:28 AM

All in all, I think the trend isn't over yet it's just having a bit of a lull... IMHO. Stay safe out there guys.

Yeah, definitely not over, we still have weeks before the end of July, anything can happen, we might stay above $60,000 but it might not last that long or we can go as high as $68,000 the next psychological barrier that we need to climb. So anything goes for us this month.

Stay safe tokes? We should be telling people they're not panicking nearly enough! I'm frankly disappointed by the (lack of) severity in the recent dip. Especially because the punditry are patting themselves on the back for making the German basis call.

Anything goes, but I'm gunning for a surprise floor giving way past $50k. Not July, though, surely...

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Quote from: tokeweed on July 19, 2024, 07:58:28 AM

Quote from: STT on July 16, 2024, 10:50:20 AM

BTC is thoroughly confusing, its now rushed back to the 50 day average. However just to confuse you more, the 50 day average is descending which to me says we have further selling still before any grander positive move.

Dont take the singular trend line, its more diverse then just a simple trend like that. We remain bullish in a wider view and that hasnt been compromised by hesitancy of the last few months. If anything to stay buoyant far higher then last years prices for example should get a green tick every day even if we take some profits that day, week etc.

But not confusing enough to know that there's a better chance it's above 60k after the end of the month tho. Wink

We're prolly due for another sell down to 59k. I think a lot of guys who watch the market with a lot more focus know it's just another time to fill their bags. So that's gonna take BTC back above 60k. The guys in the poll that voted no are at the right side. But we'll see... There's still a couple of weeks left.

We have a minor drop in the price, nothing significant and perhaps the Mt. Gox repayment is not really affecting us because as far as I know, there is a repayment scheme so it might not really affect the market itself unlike the Germany sell-off which has been done in several days so there is a pressure on the market.

Quote from: tokeweed on July 19, 2024, 07:58:28 AM

All in all, I think the trend isn't over yet it's just having a bit of a lull... IMHO. Stay safe out there guys.

Yeah, definitely not over, we still have weeks before the end of July, anything can happen, we might stay above $60,000 but it might not last that long or we can go as high as $68,000 the next psychological barrier that we need to climb. So anything goes for us this month.

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Quote from: STT on July 16, 2024, 10:50:20 AM

BTC is thoroughly confusing, its now rushed back to the 50 day average. However just to confuse you more, the 50 day average is descending which to me says we have further selling still before any grander positive move.

Dont take the singular trend line, its more diverse then just a simple trend like that. We remain bullish in a wider view and that hasnt been compromised by hesitancy of the last few months. If anything to stay buoyant far higher then last years prices for example should get a green tick every day even if we take some profits that day, week etc.

But not confusing enough to know that there's a better chance it's above 60k after the end of the month tho. Wink

We're prolly due for another sell down to 59k. I think a lot of guys who watch the market with a lot more focus know it's just another time to fill their bags. So that's gonna take BTC back above 60k. The guys in the poll that voted no are at the right side. But we'll see... There's still a couple of weeks left.

All in all, I think the trend isn't over yet it's just having a bit of a lull... IMHO. Stay safe out there guys.

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Quote from: Out of mind on July 16, 2024, 10:41:29 AM

Quote from: Bd officer on July 02, 2024, 06:47:52 AM

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.

While you might have thought that the price of Bitcoin would never fall below $60k, we saw it touch $53,000 in July. Although there was a lot of volatility in the market at the time that caused so much dumping, the price of Bitcoin is pumping again at the moment. If you look at the price of Bitcoin right now, it's really unbelievable that it has quickly moved to a good position and crossed $64,000. I expect the price of Bitcoin to move closer to $70k in the next month, but this time the market will be somewhat bearish. But of course we are waiting for the bulls, when we reach this goal the price of bitcoin will be $100k+.

I guess it depends on how we look at the market, of course there is the possibility to fall below $60k, but there could be a big reason why we will move to that price, just like when we fall to $53k, we later found out that the German government is dumping and selling their $50k stash, but they have sold everything already that's why the price goes up as high as almost $66k. So who knows, with all the positive news about Trump as the prime mover of price, and he will talk to the Bitcoin conference next week, we could only speculate that it could help the price surge to $70k for this month and so becoming bullish again after we thought that this month might end up like June as well, with negative returns. At least at the current date, we are already +3.x% already.

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Quote from: Out of mind on July 16, 2024, 10:41:29 AM

Quote from: Bd officer on July 02, 2024, 06:47:52 AM

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.

While you might have thought that the price of Bitcoin would never fall below $60k, we saw it touch $53,000 in July. Although there was a lot of volatility in the market at the time that caused so much dumping, the price of Bitcoin is pumping again at the moment. If you look at the price of Bitcoin right now, it's really unbelievable that it has quickly moved to a good position and crossed $64,000. I expect the price of Bitcoin to move closer to $70k in the next month, but this time the market will be somewhat bearish. But of course we are waiting for the bulls, when we reach this goal the price of bitcoin will be $100k+.

Can we say for sure what will happen in the Bitcoin market, no. In fact, we can only predict when the price of Bitcoin will go up or down. Which is only predictable.

A week ago, the price of Bitcoin was unimaginable. When we faced a downward trend in the market we thought maybe the market would go down further but it didn't rather it improved. The price of this bitcoin is back to $65k dollars. In the last 24 hours, the market changed and the highest price of Bitcoin rose to 65 thousand 200 dollars. Looking at such a temporary small increase in the market, it seems that the price of Bitcoin is going to touch $70k within the next week.

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BTC is thoroughly confusing, its now rushed back to the 50 day average. However just to confuse you more, the 50 day average is descending which to me says we have further selling still before any grander positive move.

Dont take the singular trend line, its more diverse then just a simple trend like that. We remain bullish in a wider view and that hasnt been compromised by hesitancy of the last few months. If anything to stay buoyant far higher then last years prices for example should get a green tick every day even if we take some profits that day, week etc.

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Quote from: Bd officer on July 02, 2024, 06:47:52 AM

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.

While you might have thought that the price of Bitcoin would never fall below $60k, we saw it touch $53,000 in July. Although there was a lot of volatility in the market at the time that caused so much dumping, the price of Bitcoin is pumping again at the moment. If you look at the price of Bitcoin right now, it's really unbelievable that it has quickly moved to a good position and crossed $64,000. I expect the price of Bitcoin to move closer to $70k in the next month, but this time the market will be somewhat bearish. But of course we are waiting for the bulls, when we reach this goal the price of bitcoin will be $100k+.

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Quote from: imamusma on July 15, 2024, 01:20:07 PM

Quote from: Wind_FURY on July 15, 2024, 10:55:21 AM

I believe that instead of panic during the DIP below $60,000 and treating at as something negative, perhaps we should embrace the DIP and every DIP should be taken as something positive. The biggest DIPs might probably be losing everything for "traders" who use leverage, but for mere plebs like us it should be an opportunity to buy more units in Bitcoin with a discount AND HODL.

Well, sometimes a dip can be considered positive as it gives investors a chance to accumulate, but sometimes it can also be a negative for some leverage traders. I agree with your opinion, but basically we also know that not all bitcoin holders have a reserve budget during dips to accumulate, while they just hold and continue to hope the market recovers. Of course, those who have a reserve budget will buy and accumulate, but those who don't have a reserve budget just need to avoid the market for a while so that their mood remained safe.

At least with the decline some time ago it was a few weeks so they could accumulate bitcoin by means of DCA even if it was with a small budget then no problem, it's just that that's the ability, but honestly if you have more spare budget will buy bitcoin when the price is $56K it is the best opportunity to buy DIP.

Now the price of bitcoin is recovering again to $63K this can be said quickly maybe we will be at the price of $70K again? After some time ago the German government sold Bitcoin which became a panic but after the news was finished bitcoin returned to show an upward trend now.

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Quote from: Wind_FURY on July 15, 2024, 10:55:21 AM

I believe that instead of panic during the DIP below $60,000 and treating at as something negative, perhaps we should embrace the DIP and every DIP should be taken as something positive. The biggest DIPs might probably be losing everything for "traders" who use leverage, but for mere plebs like us it should be an opportunity to buy more units in Bitcoin with a discount AND HODL.

I agreed with what you have said @Wind_FURY, from beginning I personally have taken every dip as an opportunity to buy more and hold, it's only people who trade that should complain about the dip and not those who are investing for long term. However, we should know that anytime Bitcoin dips it will definitely increase again and for this season, we are supposed to know that even if it dips with in a while it will increase again, so we should grab that opportunity and buy.

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Quote from: Wind_FURY on July 15, 2024, 10:55:21 AM

I believe that instead of panic during the DIP below $60,000 and treating at as something negative, perhaps we should embrace the DIP and every DIP should be taken as something positive. The biggest DIPs might probably be losing everything for "traders" who use leverage, but for mere plebs like us it should be an opportunity to buy more units in Bitcoin with a discount AND HODL.

Well, sometimes a dip can be considered positive as it gives investors a chance to accumulate, but sometimes it can also be a negative for some leverage traders. I agree with your opinion, but basically we also know that not all bitcoin holders have a reserve budget during dips to accumulate, while they just hold and continue to hope the market recovers. Of course, those who have a reserve budget will buy and accumulate, but those who don't have a reserve budget just need to avoid the market for a while so that their mood remained safe.

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I believe that instead of panic during the DIP below $60,000 and treating at as something negative, perhaps we should embrace the DIP and every DIP should be taken as something positive. The biggest DIPs might probably be losing everything for "traders" who use leverage, but for mere plebs like us it should be an opportunity to buy more units in Bitcoin with a discount AND HODL.

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Quote from: Jating on July 12, 2024, 03:36:01 AM

And I would take sideways as what we are seeing right now, than a bearish trend. Obviously though there are some news about the German government dumping their Bitcoin, but I think that effect is not that bad as what others have portrayed and they are just creating FUD.

Yeah, for sure others who have seen halving already shouldn't worry that after a month or two, there is no movement. But remember that we are still very far from the end of the year, I'm expecting huge movement in the last quarter so we should not worry and panic at all.

I agree that dumping is mostly FUD and not a real threat, you know why? The reality is that they are not going to sell it on market price and dump it all, they will look for someone who is willing to buy it all whole sale, so they can make most of it.

Selling all of that 50k all at once on a market, like lets say binance, would mean that they would lose a lot, instead they could sell it for 5-10% discounted price and sell it all. When they do that, they are not really dropping the price, since it's over the counter trade, that will not impact the price at all, which means that all of these people who are selling right now because they fear that situation, are making a mistake and they have no idea how any of this works.

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Obviously there will be people who will seek for the furthest edges that they can make people believe. So, this person couldn't say 300$ for example, nobody would find that realistic, so what would be the lowest realistic number that you can think at the bottom?

For this person it was 38k, for most of us that is not even possible and too low, but at least it is not unrealistic. Whereas some other person may come up and say that they think we will be 100k soon in a few months, not 500k, just 100k, still very unlikely for that to happen within a few months, but at least a realistic number. These type of look for the highest sides considering the situation we are in and we should be considering how to make that work as much as we can. I believe it will be something in between.

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Quote from: pooya87 on July 11, 2024, 11:29:56 AM

Being bearish is one thing, expecting weird and massive crashes is another thing. Some people are going too far with their crash predictions here

In any case I still think the potential is there for a big rally and we are in post halving days where the supply is cut by half which reduces the sell pressure on the market making it easier to rise.
But at the same time we have the world economy that is in pretty bad shape with the deepening recession and the sticky inflation. So that is scaring the money away specially since the high interest rates is absorbing part of it.

Sideways is more possible than either bull or bear market.

And I would take sideways as what we are seeing right now, than a bearish trend. Obviously though there are some news about the German government dumping their Bitcoin, but I think that effect is not that bad as what others have portrayed and they are just creating FUD.

Yeah, for sure others who have seen halving already shouldn't worry that after a month or two, there is no movement. But remember that we are still very far from the end of the year, I'm expecting huge movement in the last quarter so we should not worry and panic at all.

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@pooya87. Agreed! However on your big rally argument, I am beginning to be bearish. This might not occur without a very good cause. The ETF and the halving have occured already. There was also Larry Fink who went to different news outlets to talk about bitcoin. If the spot ETF for Ethereum cannot pump in new bullishness for the whole cryptospace, it would be headshaking to expect bitcoin to pump to $60k and move over this. It also appears that there will be much rejections on this trendline.

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Being bearish is one thing, expecting weird and massive crashes is another thing. Some people are going too far with their crash predictions here

In any case I still think the potential is there for a big rally and we are in post halving days where the supply is cut by half which reduces the sell pressure on the market making it easier to rise.
But at the same time we have the world economy that is in pretty bad shape with the deepening recession and the sticky inflation. So that is scaring the money away specially since the high interest rates is absorbing part of it.

Sideways is more possible than either bull or bear market.

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Quote from: Ever-young on July 01, 2024, 10:03:59 AM

I don't believe bitcoin prices can still be predicted using chart reading. With the way new trends and fuds appear all the time, I don't think I can still make my judgement based on the chart or previous price action.

But since the MtGox refund fear has already been calmed by panic sellers, what else do we have that will keep Bitcoin from progressing to a bullish level? I don't think there is anything. What we are seeing now is a price correction, which means that in due time, judging from the way the price is moving, we can see Bitcoin go back to $65,000 before the week runs out, and if that's achieved, then I don't think we can go back to $59,000 ever again this month.

When you said that, I can also really say that the bitcoin price is really difficult to determine when or where its price will actually go. Although, at the moment, what we are facing is still in the current correction.

We don't know how far its consolidation will run from Bitcoin's support and resistance in the market. Just let's really expect how long its range is. For sure, the rally that Bitcoin will do once it really starts in the market will be that long.

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Quote from: justdimin on July 11, 2024, 07:56:23 AM

I agree that it will probably not see 38k, that seems very low, hell I do not think that it will go down under 50k neither, the drop has already happened and I do not think that we are going to see it drop any further, I think it is going to keep staying at this level. Of course this is just my thought and I could be wrong about it, we just need to wait and see what is going to happen.

I believe that the best thing we can do right now would be wait and see how it goes. This of course is a difficult thing to handle, because many people think that it will keep dropping like that person, but I disagree and if I can keep holding for as long as I can, then I think it will recover and see 60k+ once again, its only matter of time.

It baffles me seeing people mad over price of bitcoin although as holder it's actually tempting to see that your assets is gradually depreciating in price and for that you wouldn't have that mindset to involved yourself with DCA, because you could think that price is gonna drop drastically if you keep accumulating but forgotten that it doesn't work that. There is always time for all season and if now is meant for bear you would see that price keep dropping uncontrollably except that person fully understand the market conditions that changes overtime or every seasons.

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Quote from: tokeweed on July 10, 2024, 08:50:39 AM

^ Oof, 38k? RIP market. Cheesy

I don't think that's happening tho. Not with the current price action at least. Wink

It looks like it's fighting to go back above 60k. I guess if we see it go back and stay above 60k in a couple of weeks then that's a good sign. I'd rather see a slow trend back up than a quick buy up which could mean it's also gonna go for a sell down.

But yeah, 6 days more to go before I lock the poll. Please get more votes in so we somewhat get an idea of BCT's sentiment.

I agree that it will probably not see 38k, that seems very low, hell I do not think that it will go down under 50k neither, the drop has already happened and I do not think that we are going to see it drop any further, I think it is going to keep staying at this level. Of course this is just my thought and I could be wrong about it, we just need to wait and see what is going to happen.

I believe that the best thing we can do right now would be wait and see how it goes. This of course is a difficult thing to handle, because many people think that it will keep dropping like that person, but I disagree and if I can keep holding for as long as I can, then I think it will recover and see 60k+ once again, its only matter of time.

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Quote from: X-ray on July 10, 2024, 09:01:32 PM

Quote from: Kemarit on July 10, 2024, 07:20:09 PM

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

I was hoping to see bitcoin price close around $62k but even that seem to be really hard, despite ETF inflow has been raking money around $294 million alone in 8th of july according to theblock eth inflow/outflow data and also the big player like black rock buying bitcoin by the hundred millions market still get pulled down again. People already learned to buy the dip but there's just as you said some entity trying to pull the market down trying to pull string behind the scene.

on the other hand ETH because of its ETF is still going strong but I expect it to be weak since the market trend and sentiment isn't that good.
really hoping that the bullrun isn't over yet here. Having the ATH just a little bit higher than previous one feels kinda incomplete.

I don't know about the ETF, but they say that's its already price-in, and even if there is a big flow right now, it's not enough to put the market and to climb back to $60k at least for this week. What surprises me is the way the market moves in 4 hour timeframe, we almost touches $58,500 and now we are down again to $57k'ish.

So it's really hard to go up when there are selling pressure at this point. Let's just hope that we can at least maintain this level around $56k and up, it's the biggest support line that we have this July. But if we look at the bigger picture, at least at the end of the year, we might be going on a bull run already.

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Quote from: X-ray on July 10, 2024, 09:01:32 PM

Quote from: Kemarit on July 10, 2024, 07:20:09 PM

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

I was hoping to see bitcoin price close around $62k but even that seem to be really hard, despite ETF inflow has been raking money around $294 million alone in 8th of july according to theblock eth inflow/outflow data and also the big player like black rock buying bitcoin by the hundred millions market still get pulled down again. People already learned to buy the dip but there's just as you said some entity trying to pull the market down trying to pull string behind the scene.

Positive inflows from the ETF are a good sign that many people are trying to buy on dips, but if we compare bitcoin's daily trading volume, that number is too small to have any impact help bitcoin price increase significantly. If Mt.gox is indeed distributing BTC, that number would be in the billions. Clearly, the selling force is still greater than the buying force, so it is understandable that the price has not been able to recover.

Quote from: X-ray on July 10, 2024, 09:01:32 PM

on the other hand ETH because of its ETF is still going strong but I expect it to be weak since the market trend and sentiment isn't that good.
really hoping that the bullrun isn't over yet here. Having the ATH just a little bit higher than previous one feels kinda incomplete.

Why aren't you optimistic that once the ETH ETF is officially traded, more money will flow into the market and we will recover instead of thinking it has a weakening trend?

The bull season has not yet begun, you should not be pessimistic and think that the bull season is about to end. This is not the time to be pessimistic, things are getting closer, don't let the whales take your bitcoins at the doorstep of heaven.

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Quote from: Kemarit on July 10, 2024, 07:20:09 PM

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

I was hoping to see bitcoin price close around $62k but even that seem to be really hard, despite ETF inflow has been raking money around $294 million alone in 8th of july according to theblock eth inflow/outflow data and also the big player like black rock buying bitcoin by the hundred millions market still get pulled down again. People already learned to buy the dip but there's just as you said some entity trying to pull the market down trying to pull string behind the scene.

on the other hand ETH because of its ETF is still going strong but I expect it to be weak since the market trend and sentiment isn't that good.
really hoping that the bullrun isn't over yet here. Having the ATH just a little bit higher than previous one feels kinda incomplete.

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Quote from: STT on July 10, 2024, 07:13:53 PM

12hr average was held for over a day and I was hoping it would stay above to form a positive trend on great time frames but it has failed and today is a bust in that respect unless these last few minutes bring a last minute recovery. We are very close to the 12hr average once again but so far BTC is struggling more then a little in this recovery attempt.

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

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12hr average was held for over a day and I was hoping it would stay above to form a positive trend on greater time frames but it has failed and today is a bust in that respect unless these last few minutes bring a last minute recovery. We are very close to the 12hr average once again but so far BTC is struggling more then a little in this recovery attempt.

Weekly, 2 day, 200 day all those moving averages are all in this particular area. Most positive idea we formulate in this area is its direction is important now, we are in a pivotal place. If BTC does find itself able to mount another attempt upwards then be positive at that moment as we have beaten all these measures and more. Dont assume downwards imo, its not yet certain but we are bottom of the range and threatening lower for sure.

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^ Oof, 38k? RIP market. Cheesy

I don't think that's happening tho. Not with the current price action at least. Wink

It looks like it's fighting to go back above 60k. I guess if we see it go back and stay above 60k in a couple of weeks then that's a good sign. I'd rather see a slow trend back up than a quick buy up which could mean it's also gonna go for a sell down.

But yeah, 6 days more to go before I lock the poll. Please get more votes in so we somewhat get an idea of BCT's sentiment.

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Quote from: tokeweed on July 08, 2024, 10:23:37 AM

^ I hope so... And hopefully July would also have 'the highest pumping' of the price. Cheesy

But seriously there's prolly a lot of guys who sold their bags at maybe 54k or 55k..? Waiting for the price to go below their selling price so they could buy back has got to hurt rn. I'm not making fun of anybody. I've been there before... Lots of times. Cheesy

Lol.

So yeah, votes have not changed. A couple of votes for yes, 14 for no. Where this thing is going will be a lot clearer in a couple of weeks.

In recent days, with the news of Mt.gox refunding as well as the German government continuously selling bitcoin. I see many KOLs on X with hundreds of thousands, millions of followers starting to become bearish and they predict bitcoin will drop to about 38k-48k$. Many people are calling to sell bitcoin so I believe many people are following those signals, they are selling their bitcoin and waiting to buy it back when the price drops to the level predicted by their idols Grin

.
From there it can be seen that the market is extremely bearish and depressed, many people are scared but to me, this is a good sign because bitcoin always increases in people's doubts.

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^ I hope so... And hopefully July would also have 'the highest pumping' of the price. Cheesy

But seriously there's prolly a lot of guys who sold their bags at maybe 54k or 55k..? Waiting for the price to go below their selling price so they could buy back has got to hurt rn. I'm not making fun of anybody. I've been there before... Lots of times. Cheesy

Lol.

So yeah, votes have not changed. A couple of votes for yes, 14 for no. Where this thing is going will be a lot clearer in a couple of weeks.

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Quote from: tokeweed on July 01, 2024, 09:27:50 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.

This month of July has seen the highest dumping of Bitcoin price, because after the upswing, Bitcoin price is the highest dumping of this month of July. So the current dip is definitely attractive because the individual who buys the dip at this time will surely be able to share in the huge benefits later on.

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Despite the downward trend recently, I am not ready to say that the bull market is over. The price is almost double what it was one year ago. When you have growth like that, it is natural to see corrections. Some people might be panicking because Bitcoin had a bad quarter. The Mt. Gox payments and German government selloffs will probably ensure that price will continue trading sideways and could possible go down further this month. I would use this opportunity to accumulate more BTC at lower prices before it starts going up again towards the end of the year.

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Whenever I look for the charts of Bitcoin for the long run, there's only 1 indicator that I'm using to see the trend of it. 21 Weekly Moving Average.

21 Weekly moving average is what most analysts are using to know what's the trend of the market. When it's above it, the trend is bullish and vice versa. After more than a year, we just saw the market going below it which is a bad sign and a very bearish sign. Not a good sign TBH, because last week, it went below but closed above it, now we are below it again, and I don't think we will close above it this week as well.

Some might still be bullish here, but if the market closes below that 21 Weekly moving Average this week, I will be bearish for this month. Be patient, good luck, and I hope nobody will make impulsive decisions here and there.

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Quote from: BALIK on July 04, 2024, 10:02:20 AM

Quote from: tokeweed on July 04, 2024, 08:29:19 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.

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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

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

Quote from: Dave1 on July 04, 2024, 07:46:02 AM

Quote from: Iranus on July 04, 2024, 06:22:07 AM

Quote from: bbc.reporter on July 03, 2024, 10:14:46 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.

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Quote from: Iranus on July 05, 2024, 05:55:16 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.

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Quote from: Dave1 on July 04, 2024, 07:46:02 AM

Quote from: Iranus on July 04, 2024, 06:22:07 AM

Quote from: bbc.reporter on July 03, 2024, 10:14:46 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.

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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.

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Quote from: tokeweed on July 01, 2024, 09:27:50 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.

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Quote from: legendbtc on July 04, 2024, 09:11:13 AM

Quote from: tabas on July 04, 2024, 07:49:54 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.

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Quote from: Lucius on July 02, 2024, 07:21:25 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.

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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.

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Quote from: tokeweed on July 04, 2024, 08:29:19 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/

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Quote from: tabas on July 04, 2024, 07:49:54 AM

Quote from: TravelMug on July 04, 2024, 07:20:28 AM

Quote from: tabas on July 04, 2024, 01:28:07 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.

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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

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Quote from: TravelMug on July 04, 2024, 07:20:28 AM

Quote from: tabas on July 04, 2024, 01:28:07 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, 06:22:07 AM

Quote from: bbc.reporter on July 03, 2024, 10:14:46 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, 01:28:07 AM

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

Quote from: shinratensei_ on July 04, 2024, 12:11:08 AM

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, 10:14:46 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 04, 2024, 12:11:08 AM

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, 09:27:50 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.

shinratensei_

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Quote from: Hallroom on July 03, 2024, 07:40:19 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, 04:59:46 AM

Quote from: tokeweed on July 01, 2024, 09:27:50 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, 09:38:15 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, 09:05:18 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, 09:27:50 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, 06:00:04 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, 09:27:50 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, 01:45:03 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, 09:27:50 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.

Aanuoluwatofunmi

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stead.builders

Quote from: tokeweed on July 01, 2024, 09:27:50 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?

I think its still early for us to be done with the bull season, we may be seeing the market being characterized by bearish sentiment but we cant conclude on this as it happens sometimes when the market intends to pump higher, it will first dump in disguise for others who couldn't read the pattern strategy and season very well, since we couldn't go below $59,000 in last month bear, we should expect the market price for bitcoin to cross $70,000 this month and possibly break the resistance and move towards a new all time high of about $75,000 to $80,000 before we could go bearish again or lay low the bullish season, while the year also have been programmed to move close to $120,000 before it end.

YOSHIE

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Quote from: tokeweed on July 01, 2024, 09:27:50 AM

For July, do you think Bitcoin will break down below 60k USD and stay there?
Yes
No

Yesterday I was invited to one of the forums, they invited several experts and experts in Bitcoin speculation and predictions, the main discussion was about Bitcoin speculation this year and until the halving happens again, they speculate bitcoin will go down, but slowly meaning slowly, not the same as what happened before.

They analyze and speculate that the price of Bitcoin for this year will remain at $60k, there is no definite decline, it is caused by several factors, the peak of the decline is estimated to occur around 2026, This year's downturn doesn't have much of a definite impact on the market, from lengthy discussions in the forum hall, I came to the conclusion that Bitcoin in July or this year will remain at $60k.

Charts are not a definitive benchmark in some cases for Bitcoin.

Jawhead999

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Breaking $60K is possible, but I think it will rebounce and stays around $60K-$70K.

I don't think Bitcoin would go lower than $60K because $60K is currently the strong resistance before Bitcoin will going to pump. What could be the reason Bitcoin would dump? as far as I can see there are many good news with Bitcoin.

There are many president promoting Bitcoin even though they're use it to get votes, more countries are trying to accept Bitcoin ETF etc.

Marvelockg

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Quote from: LFC_Bitcoin on July 01, 2024, 11:06:05 AM

We’re reaching a point in the cycle now where traditionally it’s up only so fasten your seatbelts.

with what we've seen in the last few months after the halving , it's most likely we might not necessarily experience a super bull to the extent to which most persons are anticipating. It's most likely that we might experience a gradual bull up $70k which might bring some sort of reaction that will bring about another downward bear towards the end of the end. There is an high possibility that what will most likely play out from now till the end of the year will be a bull that will yield a bear and gradually we might breakout something close to an $100k as the year progresses but honestly, I feel this month might not be all that different from the last month And the max we might most likely see could be $70k+ maybe I'm being short sighted but this is what I'm speculating. But then, even if we are at that range of value towards the end of the month, it's still a perfect price to keep on DCAing regardless.

LFC_Bitcoin

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I don’t think we’ll break below $60,000 and stay there, no. I do have a bullish bias but I just think the halving effect will start to be reflected in the price soon. Demand is the same, there are less coins in supply now so soon we will start to go up again.

Miner capitulation should start to ease soon, the less profitable farms will be purged. The strongest will survive and prosper. The only thing that could make us go down is if Gox coins actually do start getting dumped but we’ve dumped and recovered every time the rumours circle so the actual event may be a nothing burger.

We’re reaching a point in the cycle now where traditionally it’s up only so fasten your seatbelts.

Churchillvv

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Although bitcoin has been on very much different in its movements since the last few weeks but I still think it might see another bottom before it maintains the upward movement trend.

Or maybe we can say 60kish price is the bottom this time but im certainly not convinced, the rate of acceleration which will occur in bitcoin with 24hts has not been experienced which probably might be a sign that it's still going to drop later then after that we will maintain the bullish trend. I speculate 45k - 50k as the bottom.

Ever-young

full member

Activity: 1288

Merit: 231

I don't believe bitcoin prices can still be predicted using chart reading. With the way new trends and fuds appear all the time, I don't think I can still make my judgement based on the chart or previous price action.

But since the MtGox refund fear has already been calmed by panic sellers, what else do we have that will keep Bitcoin from progressing to a bullish level? I don't think there is anything. What we are seeing now is a price correction, which means that in due time, judging from the way the price is moving, we can see Bitcoin go back to $65,000 before the week runs out, and if that's achieved, then I don't think we can go back to $59,000 ever again this month.

bittraffic

hero member

Activity: 3038

Merit: 617

I think it will continue to go up to $65k for maybe around mid-July and then take another dump back to $61K again til the end of the month. Just my speculation. It will be playing around that price range til the end of the month.

According to the latest stats, Bitcoin is in the lowest dominance. Price will probably just sideways from here while altcoins start going up again.

Nwada001

hero member

Activity: 658

Merit: 660

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.

Since it has made it back up to $60k, I believe it will still continue on that upward trend. I don't think the question should be if it will drop down to below $60k but should be if it can break the $60k level up to $70k, which I don't know how certain that can be, but I'm sure we can still maintain $60k+ in this month of July.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

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.

Topic: BTC Sentiment Poll for July (Read 920 times)