I like the idea of a thread dedicated to market psychology. I'm working on a, still very crude, semi formal system to classify what I would call 'market narratives' to at least get some approximate idea of how my interpretation of market sentiment "performs" over time.
Looking away from the action of the last few days, I think the main driver of the market currently is "unwillingness to sell at current prices", low selling pressure, same thing I guess.
There was enough fiat sitting on the sidelines to turn the above into a +45% rally, but the biggest question to me right now is: will selling pressure return before buying pressure (mainly through new fiat, I believe) does, or will whatever fiat is /still/ sitting on the sidelines be convinced by the lack of selling pressure that it might as well enter the market now.
Topic: Market psychology thread - page 2. (Read 3844 times)
we are now in purgatory. Will the weekend whale strike? Long interest on Bitfinex has been incredibly high and shorts extremely low this week. These are weak hands and they are getting nervous at the triple-top-that-is-really-so-close-in-time-its-just-one-top. And they are looking at the periodic bubble chart and noticing that after such an epic peak (10 to 1000 in a one year mega-bubble), minor bubbles occur -- minor bubbles like 450 to 680 perhaps?
At the same time TA followers are salivating at the long-term cup-and-handle currently drawn in the 4 month chart, and the accelerating march of adoption is telling people that these could be the last few $600 coins.
Who will flinch first?
At the same time TA followers are salivating at the long-term cup-and-handle currently drawn in the 4 month chart, and the accelerating march of adoption is telling people that these could be the last few $600 coins.
Who will flinch first?
What i think....Its heading summer, the stock exchange market gettin low volume during summer months. Share holders/ daytraders packed it up for holidays, trying to get most money out of the exchange so they dont have worry during holidays.
Perhaps the traders that are left still want to make money and join the bitcoin market because of the action
I'm confused by this comment.Perhaps the traders that are left still want to make money and join the bitcoin market because of the action
Are you talking about people who trade on traditional stock markets or about Bitcoin day traders?
traditional stock markets enter the bitcoin stock markets
So will negative ECB interest rates make consumers run to BTC? Or it is too small to matter...
to small to matterThe news seems to small to matter right off the bat, but I think that we will slowly see price increases due to this...
What i think....Its heading summer, the stock exchange market gettin low volume during summer months. Share holders/ daytraders packed it up for holidays, trying to get most money out of the exchange so they dont have worry during holidays.
Perhaps the traders that are left still want to make money and join the bitcoin market because of the action
I'm confused by this comment.Perhaps the traders that are left still want to make money and join the bitcoin market because of the action
Are you talking about people who trade on traditional stock markets or about Bitcoin day traders?
O think that the current pshycology is bullish everywhere, some people are triying to buy the btcs they can while others are acting like bears to see if they can turn the price down just to buy cheaper coins.
This one may or may not have something to do with apple terms of service.
correct.
I missed it. Was there an apple news?
So will negative ECB interest rates make consumers run to BTC? Or it is too small to matter...
to small to matter
So will negative ECB interest rates make consumers run to BTC? Or it is too small to matter...
This one may or may not have something to do with apple terms of service.
correct.
No that might have been the trigger to buy all at once but fiat had to be on exchange... a couple million.
What i think....Its heading summer, the stock exchange market gettin low volume during summer months. Share holders/ daytraders packed it up for holidays, trying to get most money out of the exchange so they dont have worry during holidays.
Perhaps the traders that are left still want to make money and join the bitcoin market because of the action
Perhaps the traders that are left still want to make money and join the bitcoin market because of the action
This one may or may not have something to do with apple terms of service.
correct.
This one may or may not have something to do with apple terms of service.
Let's talk about what's driving the action. I think that the last few weeks have been all about whales getting in (and the few bitcointalk traders that were still short). Whales and institutions have longer memories; they've been watching the situation since the last bubble. I think that the general public has yet to move... not enough news stories to trigger the fever.
WRT recent action, that at 665 after a 4 hour run from 630 was NOT positioned for short term gains. And it was way too close to the action to be an attempt to bolster the price. Those coins are going into someone's cold wallet... it may have encouraged some subsequent selling action but the trend is that we are chomping thru supply, whether by buying ask walls or luring the sellers into a bid.
WRT recent action, that at 665 after a 4 hour run from 630 was NOT positioned for short term gains. And it was way too close to the action to be an attempt to bolster the price. Those coins are going into someone's cold wallet... it may have encouraged some subsequent selling action but the trend is that we are chomping thru supply, whether by buying ask walls or luring the sellers into a bid.
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