Bitcointalk Market Sentiment Poll 6/8/2021

[slaman29]

I voted for bearish because that is the reality. But I don't believe sentiment always plays a part, it just follows the domino effect of the biggest influencer sentiments (and I don't mean youtube influencers) in both directions.

So it can easily change, as long as there is enough big influence to make a positive wave, people will follow.

It’s also the reality that sentiment changes instantly to bullish after another surge that FOMOs everyone to $50,000/new ATH. Then does the current “bearish” sentiment truly matter? “Coiners” are an insconsistent kind of people. You have been given another opportunity. TAKE IT!

Indeed! Not many of my friends know I'm into crypto, and of those even fewer probably come close to knowing just how involved I am but when I hear them all chatter and talk, they are so affected by these that they miss out on opportunities and lose money. They probably would have more than me even if they held but they always bought a lot and sold in panic (at least if they really told the truth).

And here we are today looking like maybe we are ready for another 40k test:)

[pooya87]

I disagree too, that’s why I put the “quotes”. Plus for the right context, quote my whole post. I said coiners have always been inconsistent, and we can immediately change sentiment from “bearish” to “bullish”. OP, should zoom out and ask himself if the long term trajectory is “bearish”. Haha.

But even zoomed in if we focus on the short term market behavior we can see that whatever the market sentiment is it is not bearish which is surprising when people say one thing (like those voting for bearish or others who commented on it) and yet they don't behave bearish at all.

[MCobian]

And here we are today looking like maybe we are ready for another 40k test:)

Bitcoin looks up again and is trying to get past the $40k price, hopefully now Bitcoin can get past the $40k resistance price. But if it still fails to
cross the $40k price, and the Bitcoin price drops again, I'm still optimistic that Bitcoin hasn't entered a bear market yet. Because I believe
if crypto is bearish the price will drop below $20k, if it's still above $20k, I believe Bitcoin is still in a bullish trend.

[Wind_FURY]

I disagree too, that’s why I put the “quotes”. Plus for the right context, quote my whole post. I said coiners have always been inconsistent, and we can immediately change sentiment from “bearish” to “bullish”. OP, should zoom out and ask himself if the long term trajectory is “bearish”. Haha.

But even zoomed in if we focus on the short term market behavior we can see that whatever the market sentiment is it is not bearish which is surprising when people say one thing (like those voting for bearish or others who commented on it) and yet they don't behave bearish at all.

It’s “Bearish” in that the price surged to an ATH of $60,000, then crashed to $30,000 in one month. There were liquidations, losses, life altering financial situations after that crash. From that standpoint, then it’s definitely “bearish”.

[pooya87]

It’s “Bearish” in that the price surged to an ATH of $60,000, then crashed to $30,000 in one month. There were liquidations, losses, life altering financial situations after that crash. From that standpoint, then it’s definitely “bearish”.

If there is anyone out there that thinks this way then they are changing the definition of being "bearish" since one drop doesn't define a bear market and most definitely not in bitcoin market. If you look at the charts now from $60k to $30k was not even a "trend" they dumped it in only 4 days. That is not normal in any sense let alone be a trend and bearish.

Lets take 2017 for example, if you ask anyone today about 2017 they will say without a doubt that 2017 was a bull market. However we have had many big dumps from 30% to 50% just like we have this year and yet people call 2017 bullish! If you analyze the market all those dumps were similar to this dump, a fast and short lived dump that was the result of market manipulation for additional accumulation of cheap bitcoins before the ATH was reached not a trend.

Speaking of actions vs words price just reached $38k and things are getting interesting to watch. Next 48 hours will determine a lot of things.

[Lucius]

Lets take 2017 for example, if you ask anyone today about 2017 they will say without a doubt that 2017 was a bull market. However we have had many big dumps from 30% to 50% just like we have this year and yet people call 2017 bullish! If you analyze the market all those dumps were similar to this dump, a fast and short lived dump that was the result of market manipulation for additional accumulation of cheap bitcoins before the ATH was reached not a trend.

People are so convinced that BTC has fired all the ammunition for this year and that crypto winter is knocking on the door - and everyone is looking at one narrow picture without even wanting to consider something that happened in the past - and it is very similar to the situation we have today. There is no doubt that it is very easy to manipulate the crypto market, and this time the real whales do it really with style - they chose the perfect moment, they profited, and now they accumulate coins for the next big payout.

Honestly, I'm not sorry that 95% of investors lose money - so many years and patterns of behavior, and they have not learned anything yet. Smart people would say Historia est magistra vitae, others should stick to the fact that history does not always repeat itself - history will tell who will do better in the end.

[SaveOurSea]

wow it's really interesting to see the poll here, many people still say bearish, but I'm still bullish on it,
because many countries have started adopting bitcoin and other cryptocurrencies,
remember some big companies want bitcoin prices to fall and they can buy it, yes they do are whales,
of course this will be a game before the pump happens

[Wind_FURY]

It’s “Bearish” in that the price surged to an ATH of $60,000, then crashed to $30,000 in one month. There were liquidations, losses, life altering financial situations after that crash. From that standpoint, then it’s definitely “bearish”.

If there is anyone out there that thinks this way then they are changing the definition of being "bearish" since one drop doesn't define a bear market and most definitely not in bitcoin market. If you look at the charts now from $60k to $30k was not even a "trend" they dumped it in only 4 days. That is not normal in any sense let alone be a trend and bearish.

I was not trying to change any definition of any market terminology. I said it’s just merely from “their standpoint”, or maybe their current “mood” that makes the market “look or feel bearish”.



I believe this picture describes what I’m trying to say to you. BUT ZOOM OUT, did their standpoint truly matter?

[slaman29]

And here we are today looking like maybe we are ready for another 40k test:)

Bitcoin looks up again and is trying to get past the $40k price, hopefully now Bitcoin can get past the $40k resistance price. But if it still fails to
cross the $40k price, and the Bitcoin price drops again, I'm still optimistic that Bitcoin hasn't entered a bear market yet. Because I believe
if crypto is bearish the price will drop below $20k, if it's still above $20k, I believe Bitcoin is still in a bullish trend.

I guess a lot more profit taking happened so we are now back again down in the middle of 30-40. Asians markets are selling I also can see so we need to see what happens in a few more hours when the other side of the world starts considering positions for the weekend.

I agree, for me above 20k is still bullish but it would be really weird to see us go below that again.

[Yaunfitda]

And here we are today looking like maybe we are ready for another 40k test:)

Bitcoin looks up again and is trying to get past the $40k price, hopefully now Bitcoin can get past the $40k resistance price. But if it still fails to
cross the $40k price, and the Bitcoin price drops again, I'm still optimistic that Bitcoin hasn't entered a bear market yet. Because I believe
if crypto is bearish the price will drop below $20k, if it's still above $20k, I believe Bitcoin is still in a bullish trend.

I guess a lot more profit taking happened so we are now back again down in the middle of 30-40. Asians markets are selling I also can see so we need to see what happens in a few more hours when the other side of the world starts considering positions for the weekend.

I agree, for me above 20k is still bullish but it would be really weird to see us go below that again.

$40k is a big test, but so far we have failed, like what 5 or 6 times already.

And then we go on the $32k levels again, at least we have bounce back to $36k, but still short term the market sentiments turn to be bearish, although we have hear El Salvador at least accepting bitcoin as legal tender.

In any case, let's see how it goes at the end of the year, we might crack a new all time high, or better, a 6 digits in the horizon.

[DU18]

for now, to be honest if it is very difficult to predict where the market will move, because negative and positive sentiments about the market keep happening over and over again, for example like the rejection by China and Elon Musk against bitcoin which makes the market continue to fall and currently el salvador has adopted bitcoin in their country so the bitcoin price initially increased a bit, but the fact is now the market back to conditions have deteriorated a bit, so I honestly don't dare say what will happen in the future

[tokeweed]

In the year following halving ask a question like this? Has no one learned anything from the example of 2017 or is it confirmed once again that people nowadays have a very short memory?



Someone is trying to trick you again, and most have just accepted their game and in the end you will be left with empty pockets, and they will buy new yachts and luxury residences. I'm totally bullish this year, no matter the price - there's something in the money, but still Bitcoin should be a lot more than that, right?

Again that’s the thing, is BTC really gonna continue trending up without rhyme or reason except just because it’s the year after the halving?  What about the demand side of things?  Isn’t demand still a huge factor why these things get pumped in the first place?

But yeah, the sell down seems to be slowing down for now. 

[pooya87]

Again that’s the thing, is BTC really gonna continue trending up without rhyme or reason except just because it’s the year after the halving?  What about the demand side of things?  Isn’t demand still a huge factor why these things get pumped in the first place?

It is simply increasing adoption that has ever led to price rise and will continue to do so, in other words the continued up-trend is not without reason. Things such as halving, etc. are contributing to the rise for example in this case it ensures the supply is capped and also the production rate is cut by 50% which has to show itself on the market somehow.

But yeah, the sell down seems to be slowing down for now. 

At the same time the 48 hours I mentioned before is over and the momentum couldn't shape either so the market continues going sideways!

[Beparanf]

Still no clear direction on the trend. It always goes to a pattern of dump during weekends then pump during mid weekdays. But in long time frame, Bitcoin is already below the trend line which is bearish, It just need to hit that resistance again and if its failed to breach, we will see another drop to the next support.

[tokeweed]

30k must be protected or that’s another leg down making the case for the down trend stronger.  And all this right in the middle of Saylor announcing that he bought a shitton of BTC at around 37k.  Lol.  He should give his traders the sack and kick them out.

[GeorgeJohn]

After today's fall in prices in the market, including the fall in the price of bitcoin to the current $ 31,391, it is hardly worth hoping for a quick price recovery,

You know cryptocurrency price always fall, and i just seen it as nature of cryptocurrencies, bitcoin price changes like what we can't hold or have at hand, early the year the price reach 60k people were happy, so since it has fall to this extent their is hope, and their is every tendency that it will raise, it's obvious that recovery of bitcoin price can come up unexpectedly, ok at from yesterday the price was 34k but the is price 32k, so the price is not fixed