Bitcoin Forum

As we've already seen, near the end of October there were buyers who were coming in with serious volume, bringing positive momentum back in BTC.  And it's not just BTC...  Most of the other coins have closed their monthly in the green.

So the question now is will this momentum continue for November or will it fizzle out and bring BTC back to 18k - 19k range?  I made the poll a yes or no question as I want a clearer sentiment this time.

Here's the monthly chart.

https://i.imgur.com/VtBPCsu.jpg

It’s all up to the fed. It all boils down to FOMC tomorrow.

Basically if the rumors are correct and they will be dovish then we will get a bullish month. So far many other central banks pulled back on hikes and there was some QE with others. So people are speculating the same for the fed.

However there is the chance that they will be hawkish as before since these rate hikes didn’t do much to tame inflation just yet.

I will vote tomorrow on this poll.

It's always interesting to wait for the poll you will make on the topic of BTC price sentiment every month.
But this time I will also wait tomorrow to give a poll in consideration of this information (https://cointelegraph.com/news/bitcoin-resistance-mounts-pre-fomc-as-dogecoin-sets-17-month-btc-high).

I'm sure in November Bitcoin price won't drop below $20k because the buying percentage that increased at the end of October will still hold on.

My speculation for Bitcoin in November for the past few months was bullish and I still remain bullish on it. November (many have dubbed it Movember) has often been a favourable month for Bitcoin from past studies and I don't see this year's November being an exception. The FOMC tomorrow will, somehow, find away to make that speculation realizable by moving it north bound whichever way we want to look at it.

The pump during the last few days of October is convincing that we will see a good upward run for the market this month (November) and I am very positive that we will also experience it until the end of the year, I'm just hoping.
The $20,000 level right is really significant because as we saw this was the top of the 2017-2018 bull run, then for me, this will be the strong support right now for a long-term perspective.

I'm still hoping Bitcoin price had a good start this month and it could be next month will pump up and hit the resistance level of $23k.

The poll shows that it might be a correction and anytime it will pump up either in the next month.

We've heard a lot of good predictions from known people, I didn't if they are attention seekers but at least they have a good perception of Bitcoin price and this month could be determined if there's a bull market this year.

I was honestly not expecting for the boring sideway movement of Bitcoin's price to last this long. I though it would end in October which I generally think was Uptober despite others not expecting a better month. I was wrong although there was indeed a slight increase in the final days. But it wasn't really a big deal. It wasn't even a momentum. It was just simply a part of the bigger sideway movement of the price. It was well within the range of this seemingly stable behavior.

As December is coming though, I think Bitcoin will be more green than red. So November will be more green most probably.

I will gonna bring here my recent post in October sentiment thread mate because I think it is worth continuing here ..

if this will continue to stagnant at 20k , then we may see bad November this year  as the world is still suffering from drowning , I hate this but Bear will start in November till the end of 2022.

the community seems to be in full support and trust for Bitcoin this November as the votes shows completely YES . and I al one of those who believes that the Action of the last week of October will lead us to another Bear though not big as what 2021 brings us all.

thanks for that info , hope this will helpful to all bitcoin enthusiast .

We have some doubts about bitcoin's move this month, although the correction could find a gradual recovery, the stagnation is likely to persist until the end of the year. If you look at the 68k to 20k chart, it means that the next recovery will still be around 68k. Although we can't say for sure what the bitcoin price range will be until the end of the year.
Therefore, this year becomes a long correction or even in the coming year before reaching the next ATH. It is interesting that we wait for the actual bitcoin price until the end of the year.

I voted for Yes. It seems that the investors are back on track on bitcoin, I guess the target for this month should be around $21,000. We need to go up to that price and then sustain it that run.

We've seen it happened last October, it's that when we reach it, there are a lot of sellers and now it became the biggest barrier so far for our next rally. So we will see and hopefully we can get through that price this November.

Before making predictions about the market, I think it would be better to wait until the Fed announces interest rates, as interest rates will act as a determining factor for the market situation. GDP in October increased more than expected but inflation has not yet decreased, so the possibility of a hawkish Fed is entirely possible. If they raise rates at 1% this will be a bad thing for bitcoin, I think a big dumping will happen but if interest rates are at 0.5% then things could be favorable for bitcoin as well as stock market. Let's wait for the Fed rate announcement then make a prediction.

I'm still not confident with the positioning of market , yeah we broke 20k again but stagnant at this level for almost whole week now , so meaning there are still tendency that the price may fall back to 18k or more worst fell down to below the lowest 17k recently.
but the thing is that if the price takes 21k this week then maybe we are going to greening market till the end of the year.

One can only speculate on this topic (it's not for nothing that this section is called "speculation" :)). I won't try to pretend to be a forecasting guru, but it seems to me that the current momentum will fizzle out and bitcoin price will fall again, returning to past levels. I believe that this is primarily due to the general situation in the cryptomarket (bearish trend) and the current small jump in value is only a temporary phenomenon. The market is not yet ready for a bull run and there are no prerequisites for this, so we should not expect a serious appreciation of crypto currencies in the near future. The price will fluctuate at previous levels with minor changes.

Chances for up or down are there but if we continue to see a stagnant price for bitcoin and it remain at $20k for another week then maybe this is good sign for others to go back hodling some bitcoins around. But we shouldn't trust how it move because somehow there's no events or good news we are waiting for so most provably we cannot see a more bigger pump which create hype and FOMO to the people to create more demands on how the market moves.

The Fed’s decision today will affect the market, as the markets expect the maximum rate hike in this meeting, provided that the next meetings will be 50 basis points, reaching interest at 5% until the end of the year. Based on that, the time is priced, but if the monetary tightening policy continues, we may see operations A major correction brings us back to 17K levels, and therefore we will return to the same trading range.

Personally, I do not expect more than 23K USD for this month.

It is good to see the optimism instilled in people all over again. Too long have people doubted the possibility of bitcoin going up and making all of us a lot of profits. I understand the doubt because it has been over a year since we reached the last ATH but that is how long it takes to get back there.

Remember last time we reached ATH before that, it was 2017 December, and by 2018 October we were 6.5k or so, and dropped to 3k harder in November 2018 as well, so after a year it didn't not only recover but also dropped further. This means as long as we are here, we should be happy and accumulate more and have high hopes that it will eventually recover and go high.

On one of the discussion boards I found a statement as to why Bitcoin has survived this far because one of the factors is that it has a strong worldwide community. To me that is absolutely true.

Thanks.
Continue to search and learn every information about Bitcoin. Be careful about FUD news.
If the results of the FOMC and FED meeting again raise interest rates to 75 bps, it will be a successive increase.
Investors will tend to withdraw their assets on the exchange and I think that will have a positive impact.

Really quite critical BTC holds this area, similarly the Dollar index or DXY looks like we need 112 to be the top price for this moment to consolidate into a positive continuation for Nov and to end out the year.

https://i.imgur.com/OqBCzxM.png

   This pricing if we fail at this point probably leads us to retest the same support as prior, I actually have come to prefer a lower price for support longer term.   Not that I would opt for price to go lower but if its required, the more solid area in pricing needs to be found for longer term strength.
Basically the very recent low , the low prices end of last week; looks over extended but does need to hold for positive resolution.

They just did and it is not good news, and so it put some effect on the price on the last 24 hours. But the good thing is that the selling pressure has stop for a bit, the price climb to $20,300 now from as low as $20,100.

And with that, I think this November might not be as bad as we might see it as compare to previous months of a bear market. So I will be bullish about it, $22k might be the minimum.

Looks like the US stock market didn't like what the FOMC had to say.  Lol.  But the thing is even if the S&P 500 ended the day down 2% in the red, BTC still held 20k which I think is def a positive sign.  There's prolly not enougn sellers left to push the price down below 17k lows.  

Anyway...  There are 10 votes for 'yes' and just 1 vote for 'no'.  C'mon, who voted no..?  Maybe we should have another poll guessing who voted no.  Who's been negative and bearish lately?  :D

Not me,  ;D

I will agree that even if we have negative news, the price wasn't move that much and the support of $20k hold which surprises me. There are still fighting in the middle though, I see some selling but the buyers are there to pick those cheap bitcoins.

So yeah, probably we are not going to see any lower lows for this year. Come December we might see another bullish month, before we closes this year.

20k is a very very strong point right now, it is basically the old ATH back in 2017 and people are saying that they are not willing to go any lower. Even when it goes down to like 18-19k levels thats for a short period of time and not a long term thing. I am guessing that people will not be that much happy with anything lower.

This also means that we found the bottom and all we need is a lot of money to buy bitcoin right now :D I do not have a lot of money, hell at this point I don't even have a little bit of money lol, but if I get my hands of anything and I mean literally anything then I would be able to actually survive this period by buying bitcoin.

Yup it's prolly that and it could also be the crypto market is starting not to care what's going on with the more established markets anymore.  Lol.  At the end of the day crypto is still young and still is the wild wild west of finance.  It could move in a whole different direction while everything else is moving the opposite way.  Dunno...  It's just how I see it.  Crypto is must a different animal that could play by a different set of rules.

We'll see how it goes in these weird times but as long as it stays above 20k, the bulls have it.

It looks like in November the Bitcoin price will be in the opposite direction to October. Usually in November the price of Bitcoin will increase. Although the price changes are not too high, the direction of the market shows a positive trend.
Bitcoin price will be hard to fall at $18k. We've been waiting for that in the last few months as momentum to buy. Now the Bitcoin price is back at the pump slowly, probably closing at $23k to $25 in December.

So with the fed basically having no affect on the market. It all boils down to the CPI next week. Which will either be as estimated or higher and then the market should tank however not always.

Remember last CPI? The results were bad and there was a huge dump and faster reversal. Similar to what happened earlier in the summer. Hard to predict what will happen this week with the elections.

November will be sideways i think. People do not have money to buy more BTC so i am not expecting any volume into the market. There is not any bad news for now so not expecting any sell off either. I do not see any major events in this month either so it will be mostly sideway. BTC will surely show major volatile move in both ways before moving upward. BTC move usually that way.

This is to be expected with the very end of the year. November is the month presiding December, activities are going to start up and we may start to see some pull out or cash out for the investors around the beginning of the year. Although the past few months have not witnessed volatility which means profit have not really been made but the end of the year is still what it is. Maybe we are going to see some volatility during the end of the month.

I voted yes because that is a fair conclusion even after we have registered 2 negative days recently as red candles on the graph.   Price has pulled back which can still leave it within a bullish formation overall, BTC is currently at the weekly average.
  I'd estimate something like 20k is needed to be maintained for the overall positive momentum in this recent move.  In the weekly bar view we are very modest in any positive expression, apparently recent highs match a 100 day average.

I voted no. I don't want to be optimistic before entering the new year. As you said, 20 thousand needs to be protected. I think Bitcoin could not complete its upward move without seeing great volatility again. But most importantly, what kind of path will Bitcoin follow in the first month of the new year.

Can anybody tell me wtf did I just wake up to?  I see there's a Binance vs FTX feud but is it really that bad to get the whole market to sell down?  If so then this whole industry we're in will be looked at as one big joke.  


And as I said if BTC fails to hold 20k then the bears have it.  Looking at the chart right now...  Yup, bears really have it.  :/  Just as when I was starting to think we're getting out of the woods, market says nope!  :D

It's breaking down June lows.  Stay safe guys.

https://i.imgur.com/dFTU5Sg.jpg

well, have been there so maybe holding it for another months or years is the best way again , this is not going to be good for the whole November and lets see if what will happen for December  ;D

is there anything we need to understand ? or this is just  the war that makes the market shaken now?

will close my eyes for now  ;)

And just like that, when we are about to go bullish this month again, suddenly the whole Binance vs FTX takes the market to its knees.
As we hit a new lows, and now the market is on the $17k'ish and so I wouldn't be surprised if there will be like new FUD to bring the market to ever lower range in the $15k because that's where everyone wants the price before they can buy again. So let's see, we are just starting this month, and hopefully tomorrow there will be something positive that will turn the market around to be bullish to $20k range.

Dunno..  Lol.  I haven't really been following what's going on in crypto as much as I used to.  At some point you just realize it doesn't matter as we're all just here for 'number go up'.  Investing in BTC, ETH and what have you is mostly a dopamine inducing behavior, aka the rush, which could get addictive.  I'm pretty sure most of you guys, including me, can't stop checking the price of your crypto.  :D 

As for December, that's still over a couple of weeks off.  We'll discuss December when we get there.

And it looks like the one guy we laughed at for voting no got it right.  Lololol.

They are 2 now  ;D someone added as it is a sure vote LOL..

and I am also there , though have seeing those post around the forum that's why I game that conclusion but the totality of my crypto activities? it is HODL that i trust and this is what I am doing now and will still do till Halving comes.  ;)

I believe that it is the safest way to deal in this truly struggling market as we  now drops 20%  and the lowest we have this year of 2022  :'(

^  Lmaooo.  Now that's a clever guy..  Waited for everything that can happen to happen before making his vote.  :D

And yeah, if you really don't need the funds for irl stuff, you could def just wait it out until things start going around again. 

Anyway, checking the market out after at US session open and it looks like there are some whales who are trying to sell BTC down so they could run the stops and induce a drop.  From there, they pick up the pieces and pump it...  Same old same old, I guess.  Lol.

This is what we should do now , if we don't need the funds then better to let it sit in our wallet for a while because this roller coaster ride may take longer than we expected , the market is going good before this FTX thing comes and now we can see how hard for the market to stay longer.
maybe closing our eyes will help preventing the panic .

^  This is not financial advice but I think now is one of the best times to start buying in coins like BTC and ETH again.  And maybe even BNB.  I'd personally start accumulating ETH as there's just a lot more to go to once you need to rotate once it becomes a full blown bull market.  It's just a preference and I think it's going to out pace BTC a tad more than it did from the last bull market.

And from those alpha coins, maybe start rotating to other alts at the lower end of the spectrum then really try to get out of the market in profit and hold everything in stables.  I seem get round tripped every time.  Lol.

Some people are never happy and they are the people that miss out on good buy in prices. I think whenever Bitcoin dips most people are buying in even if small amounts they are buying in to capitalize on it. I have I bought some earlier today planning on dca or just buying until the next halving. I do not know if we have found the bottom and I do not think I care if we have not or have. I am in Btc for the long term and these drops are just opportunities. I think with the halving coming up in 2024 it is the perfect buy in time.

It seems like November started off with a bang, although not the bang people were hoping for.  I am seeing pretty much what I expected for the month, although in less magnificent fashion.  The worst is probably behind us as far as drops for the month.  Sure, we might fall a little lower over the next 6 months or so, but I feel like unless you're going all in at one time, this is a good time to be buying.  Don't let the people who bought at $50K scare you out of the market with them rage quitting now.  Instead, see those people as the indicators they are and do the opposite of what they do.  Most of the time people will find this is a great way to get money as a contrarian, which is usually the right call when dealing with financial markets.

Too early to say that we are out of the woods yet, we need to see the price going back to at least $20k. The market is very volatile, the price is still below the last lowest low of $17,500. But I do agree that this is still the best time to accumulate and don't be scare because of the market drop. Maybe in the future, you will have to thank seeing the price today and taking advantage of it. The world right now is in post-pandemic and so everyone is trying to get back on it's feet. Might take 2 years at least, but it will coincide with the bitcoin bull run of 2024-2025. So we are still in a good place right now.

^  So you think we could go lower from here?  I used to really think we could go lower around 12k - 15k.  And with the FTX fiasco, that's exactly the kind of thing that could take us there...  But it didn't.  That seems to be like a sign of strength as nobody really sold it down during one of the worst scenarios in crypto ever.  Think about it...  That's prolly because the ones who would've sold already sold.  There's nobody left except holders.  Everybody else left.  Lol.

But yeah..  We'll see.  But in a couple of months I think we could be trending up above 20k - 25k.

Let me tell you that support you are seeing or yes you are not to sing and the platform does not determine the pool all the increment of Bitcoin in this November which current will fall and Will rise because of the investors who partner or will invest with the paper currency so that is what I want you to understand

Still very negative into the close of November, I had hoped earlier price action could respect the closing lows since November 9th but its fallen to just match the absolute lows.   It does seem likely we keep testing support until its either proven or gives way.   Unfortunately my spring prediction or guess for a worst case scenario this year has played out, we are due to retrace back down to the 2019 summer peak prices and I hope that area has the volume to bring back support to the price.

@STT. This might not be another ordinary bear market similar to what much of the people in the community are assuming. I reckon after witnessing the collapse of 3 Arrows Capital, after Luna and FTX being exposed as ponzi schemes and if Barry Silbert's Genesis Global becomes bankrupt, there might be an attempt to dismantle the cryptospace, create stricter regulations and introduce government digital currencies.

What are you telling here ? is that you who only understand that sentence ?  what is to "sing"? and what? the pool does not determine the increment for November?

Failing and Rising is that the market keeps bringing so there is nothing to further about that lol.

We all just look at the economic situation, war, interest rates to make predictions but in the end all predictions are wrong when the collapse of FTX happened so suddenly. This further confirms that the market is unpredictable in the short term. The best way to survive in the market is to always take a long-term view and invest only long-term with bitcoin. Always zoom out.

We will have another rate hike in December before the end of the year but I think that's no longer a matter of the market, the question now is who will crash next and make the market wobble even more. I'm pretty sure we'll end this year in the red and bitcoin can't hit 20k.

Today is 22/11/22, meaning eight more days into December and Bitcoin is trading at around $16k for 22/11/22, I speculate the crypto market will experience even more severe decline until entering year 23, of course I speak beyond the charts and speculation on the internet, I speak based on my own analysis and speculation.

What is certain is that crypto users don't have to believe what I say, you have to have your own principles for the continuation of the crypto and Bitcoin market in the coming days.

What you said today is very far for the price of Bitcoin in November $ 16k comparison to 18k, I believe Bitcoin will reach at $ 14k- in the next month, it could be my range around $ 12k, that's my observation.

^  12k?  Oof that's gonna hurt for sure.  :D

I'm back and forth between 'we hit the bottom' and 'we're going to see another leg down below 15k'.  The logic behind 'we already hit bottom' is the FTX fiasco, which I consider to be waaay worse than Gox's fiasco, didn't even put much of a dent on the price.  I'd expect a hit that huge would bring BTC lower than where it ended up being.  I mean sure it broke down June lows but 15k - 16k isn't a long way off from 17.5k.  I think there just aren't any more sellers left.

But we still have a full year of bear market in 2023?

So probably we will see another leg down below $15k, maybe not this year as he have hit the bottom already. But looking at the bigger picture, who knows, there could be another news that will put the market into another frenzy.

I for now thinks that $17.5k is the lowest low for this year, but look at where the price is right now.

this will hurt us all mate ,  because 12k is seems like the lowest we can expect after the bad drop of 2020 as the pandemic  reacted by the market.
well we returned to 16k above again and showing some strong move? then there might be something that we need to believe now  ;D

^  I wouldn't stop and say 12k is the bottom if BTC does drop to 12k.  Things seem to get worse before they get really worse.  :D


Then since we're entering to realms of speculation, it's a speculation board after all, would you say that it's also in the realm of possibility that BTC could go back down to 4 digit numbers?  I think the powers that be in crypto wouldn't allow it and will protect a certain level for Bitcoin in order to stop the bleeding or it will take the whole space with it.  Imagine the smell if there was a huge sell down to 6k - 8k.  Sure it could recover but not without causing any damage.