BTC Sentiment Poll for February

[buwaytress]

Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.

But does past economic performance really still have an effect on BTC and the altcoin market? 

Economic performance? Sure. If anything, Bitcoin of the last couple of years, at least 2022 anyway, shows a really strong correlation, particularly with stocks. I can go back all the way to the last true black swan of March 2020 -- Bitcoin's crash, which was nothing if not a direct impact of a global Black Thursday.

yep it does look like there are no bears going to sell as such price anymore after it wont 24k last week. but the greed index in crypto market this week is not encouraging. its still in neutral 49 https://www.cointree.com/learn/crypto-fear-and-greed-index/
i guess it also convince investors that we are really no yet out of the woods.

while dow, s&r is already in the greed 70 https://edition.cnn.com/markets/fear-and-greed

Yeah, the index hasn't been as important to me as tech stocks index, not that I trade, it's just to me now a better indicator of what to expect in Bitcoin at least until the global economy calms down.

[tokeweed]

Easy for me to say of course with the hindsight of the last week, but yeah, it's going to require a full 15% rally, and sustained, to break and stay above $25k. Still very much on the cards, but I wonder if there's just too much uncertainty now to figure in that kind of push in 2.5 weeks --we're about to receive news on full 2022 economic performance and I suspect it will be worse than expected.

But does past economic performance really still have an effect on BTC and the altcoin market? 

Economic performance? Sure. If anything, Bitcoin of the last couple of years, at least 2022 anyway, shows a really strong correlation, particularly with stocks. I can go back all the way to the last true black swan of March 2020 -- Bitcoin's crash, which was nothing if not a direct impact of a global Black Thursday.

Yeah but just saying, there could come a point when the market runs out of sellers and some people still holding their bags start going 'fck it, I'm holding all my sht to zero' aka stop caring about the news and all the economc data they churn out.

Anyway, I've been doing these sentiment threads for a while now, I wonder how the BTC turned out on the month vs user sentiment...  Will check it out if I'm in the mood.    I feel like we're more in tuned with the market than most folks.

[buwaytress]

Economic performance? Sure. If anything, Bitcoin of the last couple of years, at least 2022 anyway, shows a really strong correlation, particularly with stocks. I can go back all the way to the last true black swan of March 2020 -- Bitcoin's crash, which was nothing if not a direct impact of a global Black Thursday.

Yeah but just saying, there could come a point when the market runs out of sellers and some people still holding their bags start going 'fck it, I'm holding all my sht to zero' aka stop caring about the news and all the economc data they churn out.

Anyway, I've been doing these sentiment threads for a while now, I wonder how the BTC turned out on the month vs user sentiment...  Will check it out if I'm in the mood.    I feel like we're more in tuned with the market than most folks.

That'll never happen, at least, not for too long but yeah of course, I completely buy into the theory of temporary seller exhaustion. Call it what you want, weak hands all gone, I call it purging of the speculators.

That said, if all we have left are bagholders who aren't using or spending, it's also not good for Bitcoin's long-term health. So in that sense, every seller creates a transaction, so I kind of see them as vital for transactional "health" haha.

Cool if you put sentiment out and forum regs chime in. I want to know if it's a good idea to sell some BTC now to buy back in at a... 25% dip? I never done it and don't play the game but I wonder if, instead of doing that, freeze my DCA for a while to wait for the dip and lump in all in? Don't ask me why I'm suddenly feeling like this heh.

[STT]

BTC makes new low for Feb today but also is now challenging the 48hr moving average.   With the low in the region of 21k it could be we have a local bottom and challenge the momentum downwards till the end of month however this remains to be seen. 22.3k is about the cap for this move on initial buying alone, it has to build above and confirm 22.5k or higher not to fail like most bearish trend rallys do.
  Last Thurs was a bigger down day both price and volume and thats the measure to meet for beating the inertia accumulated downwards.  Outside of that we are moving in a range set since that down day, fighting action downwards but with no success upwards to date.  Presume we repeat until we actually doing something new, this isnt quite it yet.

[TravelMug]

BTC makes new low for Feb today but also is now challenging the 48hr moving average.   With the low in the region of 21k it could be we have a local bottom and challenge the momentum downwards till the end of month however this remains to be seen. 22.3k is about the cap for this move on initial buying alone, it has to build above and confirm 22.5k or higher not to fail like most bearish trend rallys do.
  Last Thurs was a bigger down day both price and volume and thats the measure to meet for beating the inertia accumulated downwards.  Outside of that we are moving in a range set since that down day, fighting action downwards but with no success upwards to date.  Presume we repeat until we actually doing something new, this isnt quite it yet.

We have seen the price moves to $21,800 but then, no push so yeah, it's has been a challenge in the last 48 hours and it seems the bears take control of the market this February.

Although price is still just above $21k, we may never know what the bears can do on this price.

And with that, it will be hard a close pursuit to $22k at the end of the month.

[tokeweed]

Economic performance? Sure. If anything, Bitcoin of the last couple of years, at least 2022 anyway, shows a really strong correlation, particularly with stocks. I can go back all the way to the last true black swan of March 2020 -- Bitcoin's crash, which was nothing if not a direct impact of a global Black Thursday.

Yeah but just saying, there could come a point when the market runs out of sellers and some people still holding their bags start going 'fck it, I'm holding all my sht to zero' aka stop caring about the news and all the economc data they churn out.

Anyway, I've been doing these sentiment threads for a while now, I wonder how the BTC turned out on the month vs user sentiment...  Will check it out if I'm in the mood.    I feel like we're more in tuned with the market than most folks.

That'll never happen, at least, not for too long but yeah of course, I completely buy into the theory of temporary seller exhaustion. Call it what you want, weak hands all gone, I call it purging of the speculators.

That said, if all we have left are bagholders who aren't using or spending, it's also not good for Bitcoin's long-term health. So in that sense, every seller creates a transaction, so I kind of see them as vital for transactional "health" haha.

Cool if you put sentiment out and forum regs chime in. I want to know if it's a good idea to sell some BTC now to buy back in at a... 25% dip? I never done it and don't play the game but I wonder if, instead of doing that, freeze my DCA for a while to wait for the dip and lump in all in? Don't ask me why I'm suddenly feeling like this heh.

I mean a point when there are less sellers than buyers...  Meaning sell downs happen less and buy ups happen more.  I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point.  If so then BTC could be range bound from 16k to around 23k - 24k range...  Like sellers  only start to come out at 23k - 24k.  Dunno but seems like we aleeady hit bottom.  I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'.  I usually just buy the momentum and go with it.  Lol.  Leaves some money at the table.

[FanEagle]

How a month starts is very important,  in the end there are too many people who think that it will be a big deal and break out and that will be the thing they will base their investments on.

However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.

[Falconer]

Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.

However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.

[buwaytress]

I mean a point when there are less sellers than buyers...  Meaning sell downs happen less and buy ups happen more.  I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point.  If so then BTC could be range bound from 16k to around 23k - 24k range...  Like sellers  only start to come out at 23k - 24k.  Dunno but seems like we aleeady hit bottom.  I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'.  I usually just buy the momentum and go with it.  Lol.  Leaves some money at the table.

Which, if you're right, means they're just about to pop up then with today's surge looking to retake lost ground above 23k.

Buying bottoms? Not really my thing, as it means setting aside cash for that...

I actually never sold any tops, but have been able to benefit slightly from bottoms thanks to DCA, I'm usually less concerned about that as Bitcoin spends a lot of time near the floor... my hope is I actually call the next top as I'm not getting any younger!

[fzkto]

How a month starts is very important,  in the end there are too many people who think that it will be a big deal and break out and that will be the thing they will base their investments on.

However, looking at how things are right now, I have to say that it is not looking that great, and price is nowhere near 25k but it was getting there, we have seen as high as nearly 24k if I am not wrong and that is why people ended up thinking that 25k and above will be possible since it looked like a bull run. I have to accept that I was one of those people and even 30k was possible if you asked me, but now I think it won't happen and it will be ordinary.

But still, the bull run has really happened since the beginning of this year. Bitcoin is up 50%, so now the other coins are going up as well. I think that the growth will continue, because yesterday there was negative news about inflation in the USA, but bitcoin reacted to it with growth. I think that's a good sign.

[Captain Corporate]

So far it has been a decent month, but not really doing as well as we hoped neither. It is still above 20k after half of it is gone, in fact since its 28 days, we are beyond half of it already and that is why I believe that it is going to be a troublesome situation. I think it is going to be something that will hurt a lot of people if it goes down even more, but usually that means it will go up. I know you may think "but it went down before" but people made so much profit before that, right now everyone is in minus and they are all looking for a way to make a profit from this as soon as they can.

[beerlover]

Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.

However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.

I agree that breaking over 24k is likely, it is looking even more likely everyday, but we should still be careful about it, do not put all of your eggs in one basket, make sure that you are invest in safely and not taking useless risk, it would be bad for you in the long run.

I know it is not going to be such an easy task to handle, but that doesn't mean that we should be able to do it, it is something we should be careful but also hopeful about because we know that it is going to be possible for bitcoin to go up, not only possible but basically the likely situation for sure. We just need to arrange our portfolio in a way that any drop wouldn't hurt us too bad, but any increase would benefit us.

[cryptomaniac_xxx]

Somehow I started to get unsure about $25K in February after I was on the dip for a few days.
I know of several reasons that caused the price of bitcoin to drop during February and fluctuate, and that makes it hard for me to believe that it will go up and break $25K and stay above it. I tend to think that sideway in February is possible, but either way the market could go in any direction although today we have seen the market bounce back.

However, $24K still seems likely to be broken even though we haven't seen big move yet. If today the market closes above $22.5K, then there is a possibility that $24K can be broken within a few days.

I agree that breaking over 24k is likely, it is looking even more likely everyday, but we should still be careful about it, do not put all of your eggs in one basket, make sure that you are invest in safely and not taking useless risk, it would be bad for you in the long run.

I know it is not going to be such an easy task to handle, but that doesn't mean that we should be able to do it, it is something we should be careful but also hopeful about because we know that it is going to be possible for bitcoin to go up, not only possible but basically the likely situation for sure. We just need to arrange our portfolio in a way that any drop wouldn't hurt us too bad, but any increase would benefit us.

And just like that, we did break $24k today, not sure what is the reason for this huge 8% spike in just 24 hours, but for sure there is a positive news behind this break out run again.

So we might say it's easy task for us to break it because it just took less than 24 hours.

But the big question is that whether we can maintain this pace, or will there be another correction. If we can sustain this run, then definitely $25k is there for us this month.

[Crypto Library]

It's looking like the bulls are back as we've seen with the more than the 30% rise in BTC's price just for the month of January alone.  But even with that high of a price increase, I still see some folks say that we're still not of the woods yet.  Surely there's some hope that we are out...  What do you guys think?

I didn't expect it to go up this high at 24k tbh.  I thought it was gonna go around 22k - 23k range, go back down to 20k then go side ways after that.

At the beginning, I was also didn't expect Bitcoin will go up to 24000+ after seeing the bearish market movement of the past year. I also thought it could go into another new dip market after touching around 22k-23k. But today after proving my guess  wrong, Bitcoin touched 24300. So the current signs seem to be that Bitcoin may go to 25k or around 25k or even above this month.
Even then I would say to still watch the market, as Bitcoin re-entered the down market after touching 28k last year. But for long term investment I think the road is still open.

[Kelvinid]

I was not really optimistic but seem to believe that Bitcoin price will never reach $25k  or it becomes stable to $23k. However, was convinced that it stays above $20k this month.

The current momentum is not enough to move the market high. Even though we've done the scam issue with FTX and the war in Ukraine and Russia, the buying volume is still low to move the market price increase fast. However, the situation will indicate to something more positive this year, and that is what we wanted to happen.

[Rigon]

I voted for yes, we have seen the price almost touching $25,000 already, so it's just a matter of time before we can go to that level. Although we have some minor correction after going $24,000++ but that's how it has been throughout this bull run.

Yes, I also voted within $25,000. I expect the market to hold Bitcoin in the $25,000 range very soon, perhaps as early as today. The market is currently standing at $24308. Maybe it doesn't take much longer to reach $25,000. Wait and let our target be met.

Let's see how it goes, everyone is very excited after last month's pump and I'm sure no one has anticipated that.

The year 2022 was the bloody year of Bitcoin. After this bloody year in 2023, Bitcoin created new excitement in the market. I am very happy to see the new condition of the market. Because my investment is now on the way to recovery. So I am mentally very good here because the market is good.

[2double0]

Huge possibilities are there for $25k to be printed on the charts considering how bravely btc fought the kraken crackdown and even after a strong dollar where EUR and GBP are getting weaker, btc made its move towards breaking the recent highs and entering a fresh bullish phase again. With all the shit that happened, the kraken crackdown and Paxos ordered not to issue BUSD, and localbitcoins shut down their services, btc holding above $24k is its charm that's creating a difference this time.

[STT]

Wow this is one hell of a move in like just one day.  Its held the line, reacted massively upwards and has to be taken as very bullish for the rest of this month.   We have maintained at the top of the range for the price action since year start where as I had thought we'd have to pull back far more in either time or price to resolve sellers in the order books



The next bundle of volume would be at 30k area.   We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.

[Fatunad]

Wow this is one hell of a move in like just one day.  Its held the line, reacted massively upwards and has to be taken as very bullish for the rest of this month.   We have maintained at the top of the range for the price action since year start where as I had thought we'd have to pull back far more in either time or price to resolve sellers in the order books

The next bundle of volume would be at 30k area.   We do need to pass this range top and confirm past that, moving towards that target but seems quite possible we are able to find enough interest.

Yeah, i wasnt expecting that and now the price is trying to break that 25k resistance.If ever this would be having that breakout then we would be seeing 30k soon but im not really that making
myself getting that too hyped.I was honestly expecting for some dump considering that CPI report but it seems that it had been rejected but instead it do make out some
good increase in 24h% which i wasnt expecting and for sure the entire community doesnt really be able to see that coming.

[tokeweed]

I mean a point when there are less sellers than buyers...  Meaning sell downs happen less and buy ups happen more.  I think we're starting to get to that point or at least when it goes to the 16k - 18k range maybd it does go to that point.  If so then BTC could be range bound from 16k to around 23k - 24k range...  Like sellers  only start to come out at 23k - 24k.  Dunno but seems like we aleeady hit bottom.  I've been thinking about it more lately as I've been here for a long time and I never really bought 'the bottom'.  I usually just buy the momentum and go with it.  Lol.  Leaves some money at the table.

Which, if you're right, means they're just about to pop up then with today's surge looking to retake lost ground above 23k.

Buying bottoms? Not really my thing, as it means setting aside cash for that...

I actually never sold any tops, but have been able to benefit slightly from bottoms thanks to DCA, I'm usually less concerned about that as Bitcoin spends a lot of time near the floor... my hope is I actually call the next top as I'm not getting any younger!

No...  If I'm right it all goes back down to 16k - 18k:  buyers come out then it goes back up to 23k - 24k:  sellers come out.  So BTC ending up being range bound for a time until the buyers get their fill at the bottom of the range and the sellers run out and will prolly end up buying too at some point.  Dunno..  But all these guys blindly saying to buy the dip are right for now.

And I still think all the stuff that's going on in the world will still have an effect crypto.  And it's all not looking good rn.