How do you feel about Bitcoin today?

[Lucius]

Source

Some time ago I noticed that CMC added an option that every 24 hours you can vote how you feel when it comes to BTC, and since it is certainly one of the most popular websites when it comes to statistics and price tracking I believe it has a representative sample which can pretty well show how people feel at some point.

Given that I personally got the impression that many are not happy with the price we have this year, I must admit that the results with the CMC confirm this - slightly less than half of voters obviously want a bigger correction, but I believe there are those who think we should have be at least at $100 000.

I know that the mood of the people changes with respect to the price, but I would ask you to vote based on your general opinion on whether you are happy that 1 BTC is worth almost $50 000, or you are among those who want that price to be at least half as low.

[1715235380]

1715235380

[1715235380]

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[mk4]

Knowing that the sentiment is close to 60-40, it actually makes me more bullish. Though yea this voting thing from CMC might be a very inaccurate statistic on knowing how bullish/bearish the public are, knowing that near-half the people who picked the "Bad" option makes me feel like we're definitely not close to this bull market's peak. I'd be more bearish if the "Good" votes are at like 90% or so.

[Casdinyard]

There is an upward trend and the market price is again in green marks, also, the market value is again close to $50k. Definitely a good indicator. Congrats to those who invested in red marks not disregarding the capabilities and putting their trust in Bitcoin. That is an easy money for those who believed. To those who sold to save their losses, again, lesson is learned. The market is now more unpredictable and patterns we created based on its past is now no longer working. The market price could go up and down depending on the majority of transactions and market volume. So I guess it would be better to most of the times to still trust this industry despite of high market prices.

[Sebas.tian]

I feel good because I knew it, that the price of bitcoin will dump soon to enable people to believe that bitcoin is unpredictable. The reason why am not feeling bad about the dump few days ago is because i sold my coins last month, when the price of bitcoin hit $50k but now it has reduced to $40k which nobody knows what will happen to the price next week whether it will continue to dump or go back to it normal position that was giving customers joy.
Those who are waiting for the price of bitcoin to come down before they can buy, the time is loading, don't miss this great opportunity. The price of bitcoin will reduce to $20k before the end of this new month before it will finally move to $100k before the end of the year 2021.

[STT]

Price is rising off a monthly average, its pretty sturdy to find this as a bottom price.   What also I saw short term was a lower low but it might be more significant and catch a few off that we rose from monthly and did not reach the 50 day average as previous selling at Feb start fell to.   So short term a few might be too negative and missing that if we put in a higher low on daily bars its showing price is more positive then thought (medium term).   The proof will be to pass and confirm above the weekly measure around 49k, that encompasses most of the recent selling so exceeding that would seem to indicate that phase is diminished.

Anyway on this particular day Iam more positive for that reasoning, its still a changeable situation and we can sell later on today I can only say to watch or measure the strength of that selling after this recovery.

[bitmover]

Some time ago I noticed that CMC added an option that every 24 hours you can vote how you feel when it comes to BTC, and since it is certainly one of the most popular websites when it comes to statistics and price tracking I believe it has a representative sample which can pretty well show how people feel at some point.

Given that I personally got the impression that many are not happy with the price we have this year, I must admit that the results with the CMC confirm this - slightly less than half of voters obviously want a bigger correction, but I believe there are those who think we should have be at least at $100 000.

I know that the mood of the people changes with respect to the price, but I would ask you to vote based on your general opinion on whether you are happy that 1 BTC is worth almost $50 000, or you are among those who want that price to be at least half as low.

I have sometimes mixed feelings are well.

I hope that we have a big correction, so I could buy it for a lower price... a huge discount.

But when Bitcoin really crashes, it is not that easy to buy. There is FUD everywhere. Everyone feels that the price may drop even more.

o, I think that even if the price goes to 20K, 25K USD, people would be affraid... then when btc price goes up again, people would be complaining that they didn't buy enough

[matjas]

Its hard to not be satisfied with todays rise in price but if you went trough 2017/18 faze you know its never good to let your guard down. We are so selfish when it comes to money seem to forget even the recent history. 

[tranthidung]

Knowing that the sentiment is close to 60-40, it actually makes me more bullish. Though yea this voting thing from CMC might be a very inaccurate statistic on knowing how bullish/bearish the public are, knowing that near-half the people who picked the "Bad" option makes me feel like we're definitely not close to this bull market's peak. I'd be more bearish if the "Good" votes are at like 90% or so.

I agree.

However, there are some points I would like to note (first for myself and second for someone who have interests in)

• Sample size is unknown. It is better if coinmarketcap.com can show the sample size at specific point one person click on vote and see updated results. Result has less meaning without given sample size.
• Sample population: Who will be people click on Vote? It is a simple question but is important for data interpretation. It will be the key factor to show how prepresentative the result is for the crypto or bitcoin investor population.
• It is somewhat similar to result from Google trend with Bitcoin search. People believe most of searchers are retail investors ^[1]
• Ignore two questions, with unknown factors, the result shows the market is on the way up and bearish period is here and would be expanded more.

[1] https://trends.google.com/trends/explore?date=today%205-y&q=bitcoin
It is rallying after a serious pull back.

[DdmrDdmr]

CoinGeko asks the same question on their webpage (see https://www.coingecko.com/en/coins/bitcoin), and is currently 73% thumbs up to 27% thumbs down.

Whilst on CMC’s you need to vote to see the results, on CoinGecko you see them beforehand, which may influence the vote, but has the advantage that data is captured on TheWayBackMachine if anyone wants to study the sentiment’s evolution and correlation to price tendencies (many missing sentiment data points though).

The question on those sites is pretty simplistic though, since "How do you feel about Bitcoin today?" can be read regarding multiple factors, or at least timeframes (i.e. how does one consider the price will vary today, how does on think today that price will vary over the next month, or whatever other specific meaning one may think off).
Perhaps it’s a simple "Are you feeling positive about bitcoin today?", which would be better, as it has a yes/no answer.

By the way, both sites ask about "Bitcoin", and not "bitcoin" (being pedant, they are asking about the bitcoin network and protocol).

[Kong Hey Pakboy]

Personally speaking, seeing Bitcoin's state now compared to years ago, it's really a lot better. I can't complain about its price only a half of a hundred thousand, since we really cannot do about it. I think instead of complaining of its price, which we can't control, we should focus on what action can we do about it. Bitcoin is unstable, and this is beyond our control, and we all know that we really can't do anything about things that we can't change.

[Review Master]

Given that I personally got the impression that many are not happy with the price we have this year, I must admit that the results with the CMC confirm this - slightly less than half of voters obviously want a bigger correction, but I believe there are those who think we should have be at least at $100 000.

Indeed, everyone was expecting to be get a chance to buy more bitcoin at a level of $40k or $39k as March is a month of bearish movement on bitcoin according to previous history and majority was expecting to get that price zone. But it's also become reality that everyone wants market to move into a direction, but market moves on the other direction. Maybe samething's happening right now and market might move upward after breaking $51k resistance and obviously, i'm on the bullish part.

[BrewMaster]

the audience is the most important factor. you have to ask who are the people who visit coinmarketcap.com to check on bitcoin price?
i don't think the type of people who go to CMC even if the number is high, is a good indication of how people in general are feeling about bitcoin.
additionally there has been suspicious in the past that CMC has been trying to manipulate the market, which may be the reason why they added this option to their site to pump and dump altcoins.

[avikz]

I hope CMC isn't manipulating the result! This kind of sentiment tracker is a great tool to manipulate people and their mind which makes them believe into something that might not be the reality. But I hope CMC is carrying forward the reputation of Binance now and possibly the data is not manipulated.

So when I see 60% of the voters feel good about the correction, it shows a generally bullish view. That mean people are taking this correction positively.

Btw, is there any way to know how many people have voted in this sentiment tracker? This is a very important parameter for such trackers.

[fiulpro]

Source

Some time ago I noticed that CMC added an option that every 24 hours you can vote how you feel when it comes to BTC, and since it is certainly one of the most popular websites when it comes to statistics and price tracking I believe it has a representative sample which can pretty well show how people feel at some point.

Given that I personally got the impression that many are not happy with the price we have this year, I must admit that the results with the CMC confirm this - slightly less than half of voters obviously want a bigger correction, but I believe there are those who think we should have be at least at $100 000.

I know that the mood of the people changes with respect to the price, but I would ask you to vote based on your general opinion on whether you are happy that 1 BTC is worth almost $50 000, or you are among those who want that price to be at least half as low.

Honestly I do not care about the price of bitcoins , Bitcoins for me have been an endless opportunity to not just earn but at the same time to get a stable income by sharing my artistic skills , it was personally very hard to reach a big population and to find work as a student , that too a substantial amount of work. Here with Bitcoins I have not just supported my financial situation but I have also managed to grow to learn more about the economic situation about the whole thing.

At the same time with the pandemic it was way easier for me to work my way around these things since the normal governmental situation is well known , it has also helped me achieve financial freedom to help me send money across the globe without any excess fee. I have learned how to trade and to explore my options, what else can one ask for ? Manipulation would come from the companies ofc but the point is to not get influenced yourself.

It is more than enough for me.

[Slow death]

it was good that you created this thread. well i can't hide my discontent for the following reasons:

1 - until today the only thing i can buy with bitcoin in my country Is the refills for my cell phone

2 - since the day they stopped supporting bitcoin debit card for all countries in the world i have been facing a lot of headache to withdraw bitcoin for my country. Currently, there are few options in my case: paypal and cex.io

I will be happy when I can use bitcoin to pay for everything I want in my country.

[Kakmakr]

Coinmarketcap.com has always been a tool for speculators and these people are always happy when there are volatility in the price, because they make profit when there are lots of volatility. So if you asking that question on a trader focused platform with the recent volatility, you will almost always get a "Happy" response from those people.

Here on Bitcointalk.org you will find more hardcore believers in the technology and also people who want it to succeed as a Currency and not as a Commodity. So ask this question here and less people will be happy with the price... because more of them want price stability.  

[DeathAngel]

I feel good about bitcoin. Every correction is eaten, bears are failing to drive the price down & keep it down. I think we are primed for a breakout, six figures are coming this year, it’s sure going to be fun.

[Jay05]

I have mixed feelings about Bitcoin. Today, we saw the pump but deep down I think there will be a correction coming this month and it will convert people's happiness into anger. Generally, March is not good for cryptocurrencies. Also, why I am expecting correction because it is good for Bitcoin for the long-term purpose. The faster we go up, the faster we come down. I want to see this bull run last longer.

[MinoRaiola]

Bitcoin's record hunt continues. The world's most important asset (in my opinion) hit a record $ 58,000 per bitcoin, but couldn't hold it. Few expected Bitcoin to develop so strongly. It was clear to me that we would be back, just not that fast. Don't be too hasty, there is still a lot missing about the ATH. So please continue like this for 5-6 days, then believe in a run on a new All time high.

[milewilda]

I know that the mood of the people changes with respect to the price, but I would ask you to vote based on your general opinion on whether you are happy that 1 BTC is worth almost $50 000, or you are among those who want that price to be at least half as low.

Happy to those who had able to make profit when they do able to buy into those cheap prices and when you already had secured your profit then its just normal for you to wait up for another opportunity
to make and which would really be the result on ending up on testing out your patience which would really be ending up on that sad feeling but overall if we do look at the poll.Then everyone are happy
on the price that we had able to attain.No one did really able to expect that 50k price was reached out in a short span of time.We didnt expect that we would go this far.
Thing here is that you do know how to utilize these movements for you to make money and wont really be ending up on waiting like forever.