Client sentiment: 71% long?

[miztaziggy]

http://www.ig.com/uk/ig-forex/bitcoin-1

Hmm...interesting, client sentiment quite heavily in favour of BTC price going up.

Also interesting is the bar at the bottom showing the other markets people who are into Bitcoin are backing:
76% long on gold
62% short on DOW
90% long on Tesco (good news for me, I bought a ton of shares last week)

[lihuajkl]

It is not really trustworthy for us! What ppl are thinking is usually the opposite to what they are doing! Espally when ppl heavily invested in it, they would have no clear mind to make the right decision.

[miztaziggy]

It is not really trustworthy for us! What ppl are thinking is usually the opposite to what they are doing! Espally when ppl heavily invested in it, they would have no clear mind to make the right decision.

Well, yes, on a forum where everyone is basically saying the opposite of what they're actually doing...

But as far as I can see, this chart on IG is showing what their traders are actually betting on - putting their money where their mouth is.

Read what it says:
75% of IG client accounts with open positions in this market expect the price to rise

I.e. their clients actually hold an open position.

[thejaytiesto]

Most traders that aren't into Bitcoin but more traditional shares like CFDs and whatnot are paying close attention to Bitcoin from the sides. The current prices is starting to be really interesting for all the boat missers that are serious traders in Forex etc.

[poncho32]

Most traders that aren't into Bitcoin but more traditional shares like CFDs and whatnot are paying close attention to Bitcoin from the sides. The current prices is starting to be really interesting for all the boat missers that are serious traders in Forex etc.

Those type of people would not consider buying at the top, but when it starts to look like the bottom they might be extremely tempted to buy.