BTC Sentiment Poll for December

[tokeweed]

Ok...  November wasn't really that great for BTC.  To recap, it was doing great the first couple of days and looked like it was finally starting to break out and trend up higher until the FTX fiasco spoiled the party.  But then around November 22, the market seemed not to care anymore and started going up again.

The chart below doesn't really look all that good but if you have been following the price action everyday it feels like there aren't a whole lot of sellers left.  So hence the poll.

[1714571163]

1714571163

[1714571163]

1714571163

[1714571163]

1714571163

[1714571163]

1714571163

[1714571163]

1714571163

[1714571163]

1714571163

[Tytanowy Janusz]

From technical point of view there is nothing bullish in current price action. We just broke 18k support and can't get above it for last 23 days consolidating in death zone. Only the fact that we are very oversold, 1 year in extreame fear, and survived many bancrupties without leaving "dead zone" to the sounth makes me feal that there is not much space to go lower. Monthly RSI was never lower in history of BTC.

Its possible its not the bottom. Its possible we will dump to 15k, 12k maybe lower. But it does not change the fact that its cheap now, and its good time to start to accumulate. At current price its like 20% short opportunity or 5x long. Answer is simple.

[cryptomaniac_xxx]

I'm just wondering what took you so long to create this thread, Lol.

Anyhow, I voted for No, I think we might see the price still going down, so we might see lower lows not just at the end of the year, but maybe in the next coming year. And it's better that we don't put too much high expectation, so that it won't be a disappointment in the end.

So most likely we might see $10k-$13k as the bottom in this bear cycle.

[Upgrade00]

I erroneously voted 'No', while I wanted to vote for 'Yes'.
I personally think we have hit the bottom for this cycle, but do not really have some technical analysis to back that up. It's of course an unpredictable market and can still go much lower than this, or have a dead cat bounce and then dip again.

[Dave1]

I erroneously voted 'No', while I wanted to vote for 'Yes'.
I personally think we have hit the bottom for this cycle, but do not really have some technical analysis to back that up. It's of course an unpredictable market and can still go much lower than this, or have a dead cat bounce and then dip again.

No problem mate, as for me, I voted for No,

We still have the next year and we might see another worst year and so I predicted that we might still go North a couple of thousands of dollars. Heck, we might hear another exchanges just collapsing on the pressures of the bear market 2023. And so as much as we wanted to think that we have hit the bottom already, we might see the worst next year, just saying.

[ginsan]

I have chosen no.
That's why I believe we won't see a lower BTC price than in November when the market is volatile enough that BTC hits the $15400 price point. maybe that's the lowest price for november or this year. we must be optimistic that the price will soar when the market has strong support. fud news and so on does pose a formidable shadowy threat to holders but if they are able to hold their own under these circumstances then they will manage to see even higher prices next year.

maybe the selling action if seen from the chart will continue but it won't be too strong even when we enter the end of this year's holidays. the big whales coming in this month I'm sure they will continue to improve their portfolio before the big pumps come along. we should be able to see this situation as a moment to make an entry.

[OgNasty]

I voted Yes.  I think the SBF drama was probably the worst of it for this cycle.  We're likely to have a bit of a Christmas melt up here as the market digests and comes to grips with what just happened.  The economy is also showing signs that interest rate tightening may be coming to and end, setting the table for the next bull run.  As we get closer and closer to the next halving, eyes are going to start looking at potential gains when the block reward gets cut.  I think the next couple of months will be mostly stable with a bit of an increase, with corrections when the halving does occur and when mtgox coins are distributed.

[Kemarit]

I chosen No.

a) although there is a relived on the SBF drama, I don't think it is over, it will still have some effect on the market
b) everyone is on the edge, a simple negative news will push the price to go down again

Not every country's economy is recovering, it might take some time. And we still have the war in the background that has really affected everyone. So I guess the worst has yet to come not just for crypto, but for the rest of financial market next year.

[Lanatsa]

The chart below doesn't really look all that good but if you have been following the price action everyday it feels like there aren't a whole lot of sellers left.  So hence the poll.

Feeling up the same way but im not really that making myself that too confident when speaking about selling power which those could really just spike up without making you notice nor expect.It might be calm

and it seems no more sellers but lets see if this December price increase on small scale rally might happen next in line but im hopeful for this one.November is really that not looking good and
extremely bearish which lots had been anticipating for that 10k price but it didnt really happen.

Lets see if this holiday season would really be impose out some different scale or numbers which everyone have really been hopeful.

[darkangel11]

I voted yes because the bitcoin fundamentals are unchanged and on-chain data looks good. The problem with relying on this data is that we're seeing only half of the big picture. Bitcoin can be hit from the inside or the outside and it's been hit from the outside most of this year with chain data looking strong at 30k, then at 20k and again at 18-19k. Now at 16k it's pretty much the same - miners are mining, holders are holding, transactions are going through. The problem is that the holders and buyers cannot handle the volume that these big investment funds were bringing. We're talking about companies and investment funds that were slowly buying bitcoin in 2020 after the covid crash and dumped it all at once in June and then again in November.

People like us here can be bullish and say that we're buying because we understand bitcoin and how cheap it is, but how much can we buy? 1k? 10k? These people are dumping 10 million all at once, even at a loss, because they want to balance and close their books for the year. Bitcoin isn't crashing because it's weak and people lost trust but because scammers are getting flushed out. At some point we'll run out of them and I feel like the time is now.

[Captain Corporate]

I always love these topics, it shows what people think at the start of the month, and then we see the real end of the month as well. Sometimes the majority is right, and sometimes they are wrong but there is one thing that is certain which is the fact that it's not general knowledge of what's going to happen. Correct me if I am wrong but I have never seen the community picking the right thing with like %80 votes, its always close, and its always a bit wrong, which means that plenty of people have no idea what's going to happen in the next 30 days, and that's a good thing for the market because that means anything could happen.

[S A KHAIR]

I always love these topics, it shows what people think at the start of the month, and then we see the real end of the month as well. Sometimes the majority is right, and sometimes they are wrong but there is one thing that is certain which is the fact that it's not general knowledge of what's going to happen. Correct me if I am wrong but I have never seen the community picking the right thing with like %80 votes, its always close, and its always a bit wrong, which means that plenty of people have no idea what's going to happen in the next 30 days, and that's a good thing for the market because that means anything could happen.

Not many people cannot predict bitcoin price but you should say that all of us here cannot predict bitcoin price. If someone could know exactly where bitcoin was going, the market wouldn't be so interesting and everyone would get rich. If you think the community always chooses wrong then do the opposite the community you will win, it's all just predictions so there will be right and wrong.

[KingsDen]

Saying above the December time frame, the graph is scary to me. I am not seeing any joy in this graph in the nearest future. Anyone investing in Bitcoin now, should be ready to leave their investment for a long time. It could be 4 to 5 years.
With what I am seeing in the chart, bitcoin could go below $10k before 2024 bull run. Though I am seeing from the yearly time frame, someone on the monthly time frame could be seeing another thing, but in the end, I am not seeing any green in this chart. This is a hard time for bitcoin, and I see harder time coming.
Many weeks hands would be laid off and bitcoin is actually in there verge of restarting and making new millionaires.

[Yaunfitda]

I always love these topics, it shows what people think at the start of the month, and then we see the real end of the month as well. Sometimes the majority is right, and sometimes they are wrong but there is one thing that is certain which is the fact that it's not general knowledge of what's going to happen. Correct me if I am wrong but I have never seen the community picking the right thing with like %80 votes, its always close, and its always a bit wrong, which means that plenty of people have no idea what's going to happen in the next 30 days, and that's a good thing for the market because that means anything could happen.

Not many people cannot predict bitcoin price but you should say that all of us here cannot predict bitcoin price. If someone could know exactly where bitcoin was going, the market wouldn't be so interesting and everyone would get rich. If you think the community always chooses wrong then do the opposite the community you will win, it's all just predictions so there will be right and wrong.

There's nothing wrong with making predictions though, I know that no one can exactly predict it and that there is no experts, nor we have the crystal ball. But those past historical logs can tell us something though for the future, it might be right or wrong, really up to us how to interpret this data.

As for the data being shown by the OP, it seems very negative to me, that's why I voted for no as well.

I'm thinking that since next year will still be bearish, so meaning there is a chance that the price will still plummet and dive. Just a matter what will be the price range, it could be $10k as the worst drop price.

[Franctoshi]

From my own view to what the price of Bitcoin may be towards the end of December is that I don't think we're going to see a new lows this month until next year January,  Because December 14 will be another decisive day for the price of Bitcoin, depending on what the Fed is gonna come out with, regarding interest rate.
For me I do think they may start quantitative of easing (QE) maybe do lower 50 basis points(bps) this December, and that would a kinda ease much pressure a bit on the price of Bitcoin.

[bitterguy28]

I stand for yes just for this year alone , because according to the movement of bitcoin for years , December mostly brings positive effect but of course this is not that certain as this may change any time.

but I wanna stay positive no matter what , because I have nothing to lose here as I am a holder.

[maydna]

It seems @OP needs to add one more choice, which is undecided because I'm on those two let alone for the end of this year. At the end of this year, we may still see the price go up and down, making us curious whether the bitcoin price has bottomed out or will still decrease until next year.

But the price could still go down to the $ 10k- $ 13k level again. But hopefully, that doesn't happen, and the price can stay at the current level.

[Nrcewker]

To be honest, it's pretty debatable, whether the price has reached the minimum of the bear market or not ? I mean whenever we see BTC going up, after few hours it again starts crashing. Starting of this month BTC was giving positive vibes, when suddenly it touched 17k USD out of no where. But currently BTC again struggling under the 17k USD mark. According to me, let's not break our hopes. Lets all pray that BTC anyhow touch the 20k usd mark by the end of this month. If this happens then definitely we gonna see some great positive results next year. Let's hope for the best.

[buwaytress]

I'm actually voting no, bottom's not going to come in just yet. Some seller exhaustion as you mentioned, miners getting squeezed out, but dollar is finally relenting by a lot (I send money home so the value's just dropped off almost 10% since last month) and then Fed should make good on their promise to ease off on interest hikes.

That'll bring relief this month, and maybe next -- but it won't be enough for the real bad news when that hits like a heap of bricks.

[fzkto]

I think December will be as red as November. It would be logical to have a final capitulation in the market. Just the annual candle on the bitcoin chart turns out to be red. It seems to me that the 10-12k level where the rapid growth started in 2020 should be tested again. Although every previous month I have waited for a bounce and never guessed, I would be happy to be wrong about December as well.