BTC Sentiment Poll for November - page 5.

Sophokles

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Quote from: jeraldskie11 on November 02, 2023, 06:48:50 PM

Before I voted in the poll, I assumed that the majority of people would say "bull trap." What happened was that many people thought the market was in a bull market. Perhaps there is an error in the poll question; it would be better to state whether the resistance or supply above will be broken or if it is just a bull trap?. Because, in my opinion, we are in the bull market analytically. Since the price action has been sideways, there is a good chance that it will return to the unfilled gaps below before breaking through 35k.

A sideways market is usually considered a negative one as there isn't any movement in the market so there is no way traders can benefit from it. This can be a bull trap because we still have a few months left before halving and historically speaking market made one last major correction before the bull rally At least this is what many experts think. This rally is to give investors confidence that the bad time is finally over so that they can open long positions by expecting a rally.

boltz

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Went with "Bull market" because the signs are present more and more with each day passing and at this rate , we could see Bitcoin price soaring towards 38-39k by the end of the year but for November I do see Bitcoin price swing around 35k for the entire month and I don't see it dropping back under 32k Cool

philipma1957

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Quote from: adaseb on November 02, 2023, 10:02:29 PM

Without checking the poll results, I am pretty sure everybody is extremely bullish. Especially since we had a bullish October, sometimes November has explosive moves for bitcoin and the Bitcoin ETF is very close.

This reminds me of November 2018, everybody was expecting the $6K low to be the bottom and everybody looked at previous November and saw how bullish November usually was so everybody went long and the complete opposite happened.

When too many people are bullish that is not a good thing.

funny you say this as I think we are 2015 fall pattern and that means good gains in Nov and Dec

with a small sell off in Jan 2024

sana54210

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Quote from: Kelvinid on November 03, 2023, 08:47:13 AM

We've been up by August and started a correction by September until the last month but fortunately, the market gave up from holding it and broke the $30k barrier before October's end. And by judging the current situation, we're going up this month probably reaching $35k --that seems good already but still, it never be considered bullish IMO.
We still don't have any clue about the incoming but ber months seem, if not always but most of the time the market gives us a favor.
So I can say that this month of November is full of positivity, dump is still possible but I believe there are more on upsides than downsides.

I do believe that we have something that could be potentially a great deal when you think about it, but that doesn't mean that we are going to end up with a situation that could be lower. Yes, I agree that lower price is "possible" but I find it improbable at the same time, I think it would be highly likely to see the price go up.

We have seen how the sellers try hard to drop it and it didn't even went under 34k, which is proof that the market is not really interested in making it go any lower, and we should be considering something totally different. I agree that life is not all that easy to comprehend but at the same time it is not all that easy to handle neither, we need to see it change a lot before we could make it work.

Kelvinid

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We've been up by August and started a correction by September until the last month but fortunately, the market gave up from holding it and broke the $30k barrier before October's end. And by judging the current situation, we're going up this month probably reaching $35k --that seems good already but still, it never be considered bullish IMO.
We still don't have any clue about the incoming but ber months seem, if not always but most of the time the market gives us a favor.
So I can say that this month of November is full of positivity, dump is still possible but I believe there are more on upsides than downsides.

Fundamentals Of

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The month of October surprised me. I was expecting it to be a green month but I wasn't expecting that the price would hit as high as $35,000. The most that I thought was $30,000. But the hype of Bitcoin spot ETF had a significant influence on the price even though the factors were not exactly about the approval. There was the fake news and then the listing of IBTC on DTCC. Those helped big in the price rise.

But I don't see those factors as sustainable. So November might not be the kind of month as October. But still the Bitcoin spot ETF factor remains hanging, which means people are still anticipating the final decision of the SEC which is probably expected to be in the affirmative. And then there's the halving countdown. All in all, November won't be in red but won't surpass $40,000.

Dr.Bitcoin_Strange

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Quote from: philipma1957 on November 02, 2023, 06:28:29 PM

Nov will be a plus as will Dec. Jan will be profit taking.

Well, let me hope for what you said.

Quote

you happen to be completely wrong if our history is matching fall of 2015.

In November of 2015, the BTC price was up by 19.8%, the 2016 was the year of halving. For November 2019, the price was down by 17.6%, and 2020 was the third halving. Ok, so possibly the price will increase this time around through January, like you said.

I am no price expert, though, and I look forward to the next move for this month and December.

pooya87

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I voted for Bull Market but I think we are in the sideways market (no options for that in the poll) at least for now between $30k and $35k which means it is possible we continue seeing this range for the next week or two. The world is just too chaotic right now to speculate anything specially now that US is printing billions more for more wars across the world the combined inflation and recession throws all markets in chaotic mode.

Poker Player

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I voted for "I don't know" for lack of a more accurate choice that represents what I think. I think the price will tend to go slightly up in the month, but I don't think it will be exaggerated and I doubt if we will have a small dip in December. After so much time of bear market it is normal that people feel bullish at the slightest joy but if we see what happened in previous cycles the pre-halving months there is a rise, followed by a small fall to enter the bull run proper after the halving. History does not have to repeat itself but it is better to keep it in mind.

bbc.reporter

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Quote from: adaseb on November 02, 2023, 10:02:29 PM

When too many people are bullish that is not a good thing.

@adaseb. However, it might also be a question if your analysis has you included with the people who are in the stage of disbelief heehhe.

adaseb

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Without checking the poll results, I am pretty sure everybody is extremely bullish. Especially since we had a bullish October, sometimes November has explosive moves for bitcoin and the Bitcoin ETF is very close.

This reminds me of November 2018, everybody was expecting the $6K low to be the bottom and everybody looked at previous November and saw how bullish November usually was so everybody went long and the complete opposite happened.

When too many people are bullish that is not a good thing.

bitterguy28

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Quote from: tokeweed on November 02, 2023, 08:16:51 AM

We had one of the best performing month of the year for BTC, if not the best performing month.

So I'm guessing everybody's sentiment might be a tad more bullish? Wink

actually this is the best performing month , breaking 35k and stays at least for a day is already the best of all month in 2023.
it is already bullish given the strong holding up at the level 30k.

Quote

For this month's poll, let's try something different. It won't be a question about the price but a question about what you guys think about BTC's price action now and what it means going forward.

for now it is bullish but we have just stepped November that from the good record of October for couple of years , November seems to be the opposite so lets see
if this strong margin will continue to happen(at least till before December ends)

Quote

if this graph followed by many investors and take as advantage , then we will be seeing 45k this 2023.

Wiwo

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Quote from: TravelMug on November 02, 2023, 08:19:39 AM

I think I'm seeing that the market will continue to go up and so I voted for bull run.

No on really expected that this October will be huge, and with that big gains that we have, it's obvious that we have gain the momentum already this might continue up to the end of the year and it will coincide with what we have all been seeing this December around $50k.

So this month we could be touching $40k-$41k.

Bitcoin market has always been filled with so many surprises at each point and this is something we have to commend the market on because just like you point out, bitcoin has put up a commendable price recovery process since the month of October this price recovery may last for long and eventually turning out to be an early bull market.

So the bottom line is that Bitcoin price is highly unpredictable and at that, anything can happen at any time so we have to have that at the back of our minds.

jeraldskie11

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Before I voted in the poll, I assumed that the majority of people would say "bull trap." What happened was that many people thought the market was in a bull market. Perhaps there is an error in the poll question; it would be better to state whether the resistance or supply above will be broken or if it is just a bull trap?. Because, in my opinion, we are in the bull market analytically. Since the price action has been sideways, there is a good chance that it will return to the unfilled gaps below before breaking through 35k.

philipma1957

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Quote from: Dr.Bitcoin_Strange on November 02, 2023, 12:40:46 PM

Following the price history of Bitcoin for the past November price in the past years, it's likely that the price of Bitcoin this month is going to drop. From history, the bitcoin price usually increases in November if it's in the halving year. Just as 2024 is the next Bitcoin halving, the price of Bitcoin will definitely surge high by this time next year. IMO, we are not yet in the bull market, although the price might increase more than $35k but will still drop. There was some speculation that Bitcoin would already reach $100k+ before the end of the year, but I doubt it would be archivable.

you happen to be completely wrong if our history is matching fall of 2015.

Nov will be a plus as will Dec. Jan will be profit taking.

Captain Corporate

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I am not %100 sure if its going to be an easy picking or not, we are talking about a whole month that is following a big pump already, that is not an easy task to keep growing. I mean we were near around 26-27k? Something like that at the start of last month, something that we have seen for a long long time, we were around 25k prices for months, and then suddenly last month we started to go up and peaked at 35k. That big increase alone feels like we have shot our bullet already and do not feel like we could grow even bigger. Could it happen? It potentially could happen but I am not really expecting it, I would welcome it if it happens but not really expecting it to happen.

sokani

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October was a good month for the Bitcoin community and one of the reasons for the price surge is the spot bitcoin ETF craze that fired up the price. I'm bullish on the month of November that we may be in for yet another surprise. If any of the spot bitcoin ETF finally gets approved by SEC, then we might see $40k -$50k this month. If this doesn't happen, then I think the market price will just around $33k - $35k, I don't really see the price plummet to $30k or anything less.

_BlackStar

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Quote from: tokeweed on November 02, 2023, 08:16:51 AM

We had one of the best performing month of the year for BTC, if not the best performing month.

So I'm guessing everybody's sentiment might be a tad more bullish? Wink

For this month's poll, let's try something different. It won't be a question about the price but a question about what you guys think about BTC's price action now and what it means going forward.

The trend has proven that we are in a bullish phase - this can be seen from bitcoin's performance in the last year. We can check TF 1 D or 1 W last year and in my opinion it can be said to be bullish. We are currently bullish - but not sure what will happen next although there are high hopes for it to continue.

Now the halving is getting closer and I believe a price push higher could be possible. Increased demand due to FOMO seems inevitable - especially for those hoping for quick profits from this bitcoin halving cycle.

bhadz

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It's likely the start of the bull market. Many are still waiting for reconfirmations but didn't we see that we're having a good time that's obvious with bullish signs.

Quote from: pixie85 on November 02, 2023, 04:09:24 PM

There are people who say the price could go down at ETF news but in the long run it's still going to go up because ETF = more buyers.

Yup, I'd agree with that because it brings more money in to the market and they're only thinking as if the entire institutions are going to dump all at once. It's unlikely that they're going to do that but let's say at the beginning, there could be significant move from them but yeah, we're all winners in the long term.

pixie85

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IMO it's a bull market.

The bear market was elongated by US FED tightening policy. Now they're running out of options, even the FED chair said they won't be tightening in 2024, so that's out of the picture.

We're making higher lows every month. This is a clear bullish signal.

Even if we dropped down to 26 000 from here it would still be a higher low.

There are people who say the price could go down at ETF news but in the long run it's still going to go up because ETF = more buyers.

Topic: BTC Sentiment Poll for November - page 5. (Read 828 times)