For those of you guys who joined Sinbad's BTC price prediction contest... Just dropping by to tell you guys that it's the last day to make your second prediction. I've missed doing the second one for a couple of months now. Lol. So yeah, don't be like me. It's basically +EV, won't hurt to join.
SINBAD.IO Mixer May Bitcoin Price Prediction
https://bitcointalksearch.org/topic/sinbadio-mixer-may-bitcoin-price-prediction-5451298
Anyway, gonna lock the poll, just 24 votes. Hopefully more of you guys get in next month.
And I feel like it's sideways til the end of the month but since LSD's started getting bought up again, I think it's gonna lead the way for BTC like it did at the last run during the start of the year.
Topic: BTC Sentiment Poll for May - page 3. (Read 727 times)
Long bottom wicks during May 12, 17 and 18 could be telling us that some whales are trying to protect the 26k - 27k range. We can't really be sure if they could but if they do, it could bring more bullishness back to the market and force the shorts to be flushed out and close out their trades causing even more positive price action.
To me last week and this week looks like the attempt to defend the 200 Week MA. It did act as resistance for a couple of weeks in February so makes sense it acts as support for a couple of weeks now we are re-testing, even if it won't hold. Although $27K might seem like a "expensive" for some, as it's nearer the top of the range from the $15K to $31K move, it still remains roughly a 4-year average price. So while short-term traders are probably still taking profits or even shorting the market, those who have stayed away for the past 1-2 years should still feel comfortable re-entering around these levels. Hence the balance I think.
The question is how long could 26k - 27k be held? Pretty sure there are whales who are also taking the other side of the trade.
I think it'll hold for the rest of the week as we continue to see buying support below $27K, but next week we'll likely see whether the 200 WMA will hold for a third consecutive week (as a strong pattern) or whether it's time for a deeper pull-back towards $25K that many are still waiting for. Bare in mind price only corrected around -16% which isn't much, so a -20-25% correction (that is more natural) is roughly between $23K and $25K. The former has lots of volume support and is close to the 200 Day MA while the latter was strong resistance that could well turn into new support, more likely than $26K/$27K area at least.
Long bottom wicks during May 12, 17 and 18 could be telling us that some whales are trying to protect the 26k - 27k range. We can't really be sure if they could but if they do, it could bring more bullishness back to the market and force the shorts to be flushed out and close out their trades causing even more positive price action.
The question is how long could 26k - 27k be held? Pretty sure there are whales who are also taking the other side of the trade.
The question is how long could 26k - 27k be held? Pretty sure there are whales who are also taking the other side of the trade.
Whales could keep the market moving more positively for the rest of May, but I think retail traders are reacting too much to panic selling. In my opinion, the increasingly popular scalping strategy seems to have become problem in itself against possibly stay above $27k for May. The price is moving sideways and may tend to drop to another low due to the trader panic.
Whales will take any resulting dip due to panic traders without wanting to show any major moves in price. This is an opportunity for them on the accumulation plan, but anyway I hope the $27k will stick around for the rest of May this year.
Long bottom wicks during May 12, 17 and 18 could be telling us that some whales are trying to protect the 26k - 27k range. We can't really be sure if they could but if they do, it could bring more bullishness back to the market and force the shorts to be flushed out and close out their trades causing even more positive price action.
The question is how long could 26k - 27k be held? Pretty sure there are whales who are also taking the other side of the trade.
The question is how long could 26k - 27k be held? Pretty sure there are whales who are also taking the other side of the trade.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Apart from all that, we have China, which will allow cryptocurrency (again) in June. This could attract new investment into the market and we could see a new rally. I remember when the crypto ban in China had a negative impact on the price. Hopefully now there will be a positive. If that happens, growth could start as early as the end of May.Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
I missed it, would you happen to have a link for this info? I don't see any recent news that China will allow the reuse of cryptocurrencies. One of the recent reports about China that I know of is that they are still the 2nd largest bitcoin mining center in the world after the US despite the government ban. But there hasn't been any announcement that the Chinese government will accept cryptocurrencies in June, as you said.
You're right about China, I think the user was mistaken for Hong Kong here that will allowing trading of cryptocurrencies again:
https://www.coindesk.com/policy/2023/02/17/no-hong-kong-wont-be-allowing-retail-traders-access-to-crypto-on-june-1/
As for China they are apparently developing their own crypto-Yuan, so I don't think it will be too long before it's legalized. Maybe the Hong Kong experiment will encourage China to allow Bitcoin trading again, especially with the interest from Chinese banks and institutions who want to profit from Hong Kong's market.
As for whether it will have much of an impact on price, I doubt it, because there still won't be retail trading allowed in Hong Kong, let alone China.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Apart from all that, we have China, which will allow cryptocurrency (again) in June. This could attract new investment into the market and we could see a new rally. I remember when the crypto ban in China had a negative impact on the price. Hopefully now there will be a positive. If that happens, growth could start as early as the end of May.Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
I missed it, would you happen to have a link for this info? I don't see any recent news that China will allow the reuse of cryptocurrencies. One of the recent reports about China that I know of is that they are still the 2nd largest bitcoin mining center in the world after the US despite the government ban. But there hasn't been any announcement that the Chinese government will accept cryptocurrencies in June, as you said.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Apart from all that, we have China, which will allow cryptocurrency (again) in June. This could attract new investment into the market and we could see a new rally. I remember when the crypto ban in China had a negative impact on the price. Hopefully now there will be a positive. If that happens, growth could start as early as the end of May.Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
That would be June already and maybe it's time to be back and start investing again.
But it's still uncertain because the debt ceiling crisis may just not result good for crypto and the stock market. June month may just have a wilder swing in prices overnight.
China coming in to give their citizen a chance to grab some cryptocurrency investment could be a catalyst but we'll not find out instantaneously.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Yeah, as much as we hate those who try to manipulate or making the state more chaotic with those spam attacks, the best thing to do is just see what the market will offer to us. Right now the fees has settled down and for sure this might be the "new norm", no more 1 sat/vB unless the devs will find a way to keep this whole ordinals inscriptions on top of the bitcoin blockchain.Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
So let's see, as much as I wanted to be bullish, the market might react negatively and just stay their grounds around $27'ish for this month.
ETH hasn't found a solution to that for many years now, they keep going up and up, so we know it is not an easy solution, it hasn't been found yet, and we need to be patient about it and just try to hope for the best. Maybe it will be found in a year, maybe 5 years, maybe tomorrow, but there is nothing we can do but hope until it is found.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Apart from all that, we have China, which will allow cryptocurrency (again) in June. This could attract new investment into the market and we could see a new rally. I remember when the crypto ban in China had a negative impact on the price. Hopefully now there will be a positive. If that happens, growth could start as early as the end of May. Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Yeah, as much as we hate those who try to manipulate or making the state more chaotic with those spam attacks, the best thing to do is just see what the market will offer to us. Right now the fees has settled down and for sure this might be the "new norm", no more 1 sat/vB unless the devs will find a way to keep this whole ordinals inscriptions on top of the bitcoin blockchain.
So let's see, as much as I wanted to be bullish, the market might react negatively and just stay their grounds around $27'ish for this month.
I think the market is going to get more wild this month or in other words we can see bigger size sideways market in the coming weeks. On one hand we have the manipulators and the attackers that are directly and indirectly creating chaos in the market. On the other hand we still have the money coming in and buying bitcoin cheap getting ready for the future rallies.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
Then on top of all that we have the global economy that is in a chaotic state with the inflation still high and the recession growing at the same time. As I've said many times before, as much as inflation is good for bitcoin price, recession is bad for it.
After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life
There’s a sign of life especially to those who are waiting for this cheaper moment, another great opportunity to grab more Bitcoin. I think the market will go for a correction for now and this might last until the end of 2nd quarter. We do not enter the real bull market trend yet, but at least we saw a great pump already, now its waiting time again for the price to pump, there’s still chance that it can happen this year. Even when we thought that we have escaped the bear market, here we are going to $25k. Mehn! But deep inside me, I will like the price to touch 20k again so that I can make a big purchase and wait for the bull run.
Could it be this congested mempool that is dragging the market downwards. If so, the market will reverse upwards if the mempool is decongested.
Of course the mempool affects the market as it increases transactions and also makes transaction fees high, and it looks like the bitcoin price is slowly returning to 28k+ by the end of May.
Shifts in market sentiment are always changing. If we look at the Time frame 1 hour ago Bitcoin bounced back after the $25,811 axis with very low volume. Now back to the Support/Resistance Block However, if the bulls manage to close BTC above the SR block around $27,663 Traders and investors will cancel shorts and trigger Longs triggering a spike in deals. My Opinion for BTC Sentiment Poll for May for is Up.
Well, as we enter the month of May, the price of Bitcoin isn't moving forward but just a drop. Thinking about the situation last month April, I could say that this month of May is not really looking good but of course, it was not the possible worse month as well. The situation would never change, there is an up and down on the its price but if the huge fees continue, this would really a have huge impact in the market as well as urging small investors/traders not to move their BTC and hold them.
However, as I post my opinion, I remain positive about the price of Bitcoin. Currently traded at $27,013 and the line is declining, it is possible we drop to $25k before it rises back.
I think I also see the same as you said, the movement only increased for a moment and went back down but the price was still in the same situation. the increasing trend at the beginning of the year was just a mere surprise and it doesn't look like it will continue to move better, prices in May might be in the price range of $ 25K-30K. but I estimate that if the world economy has not improved, it is certain that bitcoin will not move beyond $ 30K and will continue to be below it, it is possible that early next year there will be changes that lead to gradual improvement. However, as I post my opinion, I remain positive about the price of Bitcoin. Currently traded at $27,013 and the line is declining, it is possible we drop to $25k before it rises back.
After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life
There’s a sign of life especially to those who are waiting for this cheaper moment, another great opportunity to grab more Bitcoin. I think the market will go for a correction for now and this might last until the end of 2nd quarter. We do not enter the real bull market trend yet, but at least we saw a great pump already, now its waiting time again for the price to pump, there’s still chance that it can happen this year. Even when we thought that we have escaped the bear market, here we are going to $25k. Mehn! But deep inside me, I will like the price to touch 20k again so that I can make a big purchase and wait for the bull run.
Could it be this congested mempool that is dragging the market downwards. If so, the market will reverse upwards if the mempool is decongested.
After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life
There’s a sign of life especially to those who are waiting for this cheaper moment, another great opportunity to grab more Bitcoin. I think the market will go for a correction for now and this might last until the end of 2nd quarter. We do not enter the real bull market trend yet, but at least we saw a great pump already, now its waiting time again for the price to pump, there’s still chance that it can happen this year. 
Well, as we enter the month of May, the price of Bitcoin isn't moving forward but just a drop. Thinking about the situation last month April, I could say that this month of May is not really looking good but of course, it was not the possible worse month as well. The situation would never change, there is an up and down on the its price but if the huge fees continue, this would really a have huge impact in the market as well as urging small investors/traders not to move their BTC and hold them.
However, as I post my opinion, I remain positive about the price of Bitcoin. Currently traded at $27,013 and the line is declining, it is possible we drop to $25k before it rises back.
However, as I post my opinion, I remain positive about the price of Bitcoin. Currently traded at $27,013 and the line is declining, it is possible we drop to $25k before it rises back.
After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life
Whether this month will be a green or a red on the charts, we will know after about 25 days are passed and we are not even halfway yet, so anything can happen. Though the price doesn't look very strong, it is still holding the current position, and if it continues to hold on much longer, we might see some upside movement pretty soon.But if it goes the other way around and dips even more, that dip will take the price below $25k with the support of panic sellers who are already starting to get worried as the price hasn't been moving at all for several days by now.
Yeah, but we can speculate whether the price will go up or not and that is the main purpose of this thread. I mean everyone here, average joe like the majority or those whales can make their own prediction on this month and then make the necessary adjustments.
$25k will be the next support level no doubt about it. But as we can see, the price seems to be moving towards the $27k, yesterday it was like $27,500 but in the last 24 hours it goes down again. So most likely this might be case for this month, sideways and worst case is that it will go down to $25k.
May does have some notable situations or events like on the recent network clogged because of that ordinal thing https://decrypt.co/139036/developer-inserts-bug-bitcoin-ordinals-how-bad-is
Dont know on how this would really be that i connection about on the current price decrease but i do heard off some words in correlating this stuff on the recent drop
but honestly i dont really see out some connections into it.
Sentiments of this May, then im always be having that kind of that guy or person whose really that easily make out some adjustments or something that talks about versatility.
Im always prepared on what would be the numbers because this is how this market reacts or behaves whether there are some notable events or doesnt really
have any at all.
After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life
Whether this month will be a green or a red on the charts, we will know after about 25 days are passed and we are not even halfway yet, so anything can happen. Though the price doesn't look very strong, it is still holding the current position, and if it continues to hold on much longer, we might see some upside movement pretty soon.But if it goes the other way around and dips even more, that dip will take the price below $25k with the support of panic sellers who are already starting to get worried as the price hasn't been moving at all for several days by now.
Yeah, but we can speculate whether the price will go up or not and that is the main purpose of this thread. I mean everyone here, average joe like the majority or those whales can make their own prediction on this month and then make the necessary adjustments.
$25k will be the next support level no doubt about it. But as we can see, the price seems to be moving towards the $27k, yesterday it was like $27,500 but in the last 24 hours it goes down again. So most likely this might be case for this month, sideways and worst case is that it will go down to $25k.
After experiencing a few green months in a row we can expect a red one sooner or later. Perhaps May will be the red one, but it feels like this bear market is lasting forever so if we get another green one then i'd certainly be happy. So far, it's not looking too good! but inflation data is better than expected i think we might see some signs of life
Whether this month will be a green or a red on the charts, we will know after about 25 days are passed and we are not even halfway yet, so anything can happen. Though the price doesn't look very strong, it is still holding the current position, and if it continues to hold on much longer, we might see some upside movement pretty soon.But if it goes the other way around and dips even more, that dip will take the price below $25k with the support of panic sellers who are already starting to get worried as the price hasn't been moving at all for several days by now.
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