BTC bearish sentiment breaks 2018 levels & folks start calling the bottom

[senne]

Beaeish sentiments usually increases when price drops. Not much to care about there. But the thing to note is that BTC is struggling really hard to cross $8200 as the bears and bulls are fighting intensely at that price range and volume seems to drying up. If BTC revisits $7800, then price will go down to $7500 which will become a crucial level again. So, if BTC doesn't hold it price at this point, price may go towards touching the bottom. 

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[beerlover]

Bearish sentiment across Twitter, Reddit & Bitcointalk not been that high since Dec 2018!
And folks start calling the bottom:

[im g]https://i.imgur.com/9qZR4Ta.png[/img]

2018 was a whole different thing, it wasn't a "bearish sentiment" it was literally felt like end of the world for a while, thankfully we didn't stayed around those bear times and went back up, even tho we are down once again recently it is still double the price of what it used to be, DOUBLE!

People are worried about price going down right now but they are forgetting that we already did 2x from 7-8 months ago! That is not something we can ignore, it is literally in there and I find it interesting that people would be willing to discuss price drops and bearish sentiments on a time when we doubled our price in less than a year, just because it fell to 2x profit from 3x profit doesn't mean it is a bearish sentiment, it is just that people got their profits and now watching instead of waiting for it to go even further higher.

[bitbunnny]

Current situation can't be compared with 2018 and we should put sentiments, this kind or another, away from us.
I don't think any similar situation will repeat now and there is no reason at all for panic or drama and I don't think that current correction will last too long or go too deep. But it looks that some users never learn from past experiences and they always finding reasons to spread the panic..

[bohr]

Pah. The people in this market are so pathetic and skittish that give it a $200 move upwards and it'll be back to '100k by Christmas' again.

After all this time I still find it pitiful how easily spooked or stoked people are.

That is just the nature of investors, they want to have an asset that gives them huge gains but do not want to accept the volatility that comes with it, so whenever the market moves in one direction or the other you see their feelings changing accordingly, but look at the bright side if it was not for investors like that it will be impossible to make money in the markets since everyone will be taking the right decisions all the time.

[magneto]

Pah. The people in this market are so pathetic and skittish that give it a $200 move upwards and it'll be back to '100k by Christmas' again.

After all this time I still find it pitiful how easily spooked or stoked people are.

That is just the nature of investors, they want to have an asset that gives them huge gains but do not want to accept the volatility that comes with it, so whenever the market moves in one direction or the other you see their feelings changing accordingly, but look at the bright side if it was not for investors like that it will be impossible to make money in the markets since everyone will be taking the right decisions all the time.

You nailed it.

BTC is one of the most interesting assets when it comes to how sentiment seems to move in accordance to price movements. Compared to traditional commodities such as gold and silver that are considered to be good stores of value historically, it seems like that market participants are much more eager to be pro-cyclical as opposed to be going against the trend or at least holding their previous positions.

There is really no reason to be panicking right now about just a few weeks of negative growth. Even if we slip into another short term bear market there shouldn't be much of an issue at all, given that fundamentals have simply not changed. Bottom-calling is just what comes with bearish sentiment naturally.

[dimonstration]

As the OP posted it weeks ago that moment the price is about to reach less than 8k that can add to a more bearish sentiment, but knowing how 2018 been hat reaches almost to 3k, there is no reason to put too much sentiment now especially that BTC is not continuous in being red, This sentiments we must be familiar with since its been the trend of BTC volatility, as long as we know how effective having BTC still and still have room for more adoption we should not be worry holding it.

[CryptoBry]

As the OP posted it weeks ago that moment the price is about to reach less than 8k that can add to a more bearish sentiment, but knowing how 2018 been hat reaches almost to 3k, there is no reason to put too much sentiment now especially that BTC is not continuous in being red, This sentiments we must be familiar with since its been the trend of BTC volatility, as long as we know how effective having BTC still and still have room for more adoption we should not be worry holding it.

Market sentiments can easily be changing according to the many developments affecting the market. There is a cycle for this. Usually when people are starting to feel that Bitcoin can go dip, the sentiment can also go low which is kinda like a self-fulfilling prophecy and when there is a small jump in the price things can get rosy and exciting. I am then wondering, does the sentiment influence Bitcoin or does Bitcoin influence the sentiment? Well, that is how complex the dynamics in the market can be and with Bitcoin always holding some surprises in its sleeves I would not wonder if our predictions and projections may not perfectly come true which can lead us to get shocked or just be amazed.