BTC Sentiment Poll for March

[dragonvslinux]

Personally I think there are many events that may or may not reverse the bullish trend for bitcoin to break through the major resistance at $25k, seemingly waiting for a response of
1. Silvergate
2. Mtgox
3. CPI  US February
4. FED adjusts interest rates.  
Therefore, volatility will be fast but I guess the up/down won't be much.  Therefore, I think bitcoin is likely to cross $25k for the third time this year but it will close at 23k5 in march.  Probably not

It could be, but if I may add:

1. Silvergate - I think the issue or the effect of this news has subsided already, yes it did put a dent, but not that much, we are still above $20k, $22,500 as of this writing.
2. Mt. Gox - I'm still on the fence if this will really be a big factor for this month or even for the next 6 months as it supposedly be paying out
3. CPI - For March, we will have to see, and just like the other CPI, if there is a pivot then it will be good for us, if the numbers goes up, maybe we can go down again, but it's not going to be like for a month, maybe a week and that's it, buyers be like buying again
4. FED - same with with I mentioned above, it's all about the numbers

$25k will still be the our biggest barrier that we need to break, but with the current might, it might be difficult again. So I expect some kind of sideway pattern until we have a break out run.

Agree with a lot of these counter arguments. Excluding MtGox coins coming back onto the market (via OTC mainly I imagine), then the other factors don't automatically creating selling pressure imo. I'm also sceptical whether the release of coins over the next 6 months will create that much selling pressure, given there is currently a reasonable demand for Bitcoin between $20K and $25K.

For example with LUNA/FTX crashes, these capitulations occurred as price was already very bearish and therefore the market couldn't handle the negative news. Whereas with Silvergate, there was some immediate panic it seems but only so much to cause a -5% drop due to the current bullish uptrend it seems, rather than the -20%+ we saw with previous negative news.

As for CPI/Fed announcements, it's always the same story. We've seen bearish CPI numbers and price pumping (largely due to anticipation of bearish announcement so price had already dropped), likewise we've seen bullish CPI numbers and price not moving. But naturally most people only have the capacity to remember the relatively coincidental times were bearish CPI numbers reflected with bearish price action.

My point is, bearish news has negative affects when price is bearish, but when it's bullish, it has little to no effect. Likewise when we are in full blown bull market mode, bearish news doesn't even create a dent.

[bbc.reporter]

This new information was shared by @PeckShieldAlert that 49k coins of bitcoin from wallets controlled by the American government were transferred to Coinbase. It might not be a speculation anymore if someone predicts that $25k for March is impossible if these coins will be dumped.



#PeckShieldAlert 49k $BTC (worth $1 Billion) from wallets related to US Government law enforcement seizures have been transferred to #Coinbase (~9.8k $BTC, worth $217M), bc1qf2…fsv (30k $BTC) & bc1qe7…rdg (9k $BTC) #SilkRoad

Source https://mobile.twitter.com/peckshieldalert/status/1633331891347820544

[btc_angela]

And it seems that we are moving further away from that $25k. I mean with the recent development in US, still in the proposition stage though, but it has created a lot of negative news already with regards to the 30% tax on bitcoin miners.

That $20k support though is holding up, it's fluctuating to $19,700-$20,000 right now.

But I guess March will not be good after all.

[pooya87]

Sometimes the negative things that affect bitcoin price are funny like Silvergate. I bet at least 90% of those who own any bitcoin have never even heard the name Silvergate before it went down or at least before FTX drama began. And yet we are hearing it a lot today and people seem to have panic sold their bitcoins for it

[tokeweed]

^  I know right?  I don't know what's going on for most of the whole thing these days.  And it seems like a lot of people around these parts do...  Do they?  Lol.

And it seems that we are moving further away from that $25k. I mean with the recent development in US, still in the proposition stage though, but it has created a lot of negative news already with regards to the 30% tax on bitcoin miners.

That $20k support though is holding up, it's fluctuating to $19,700-$20,000 right now.

But I guess March will not be good after all.

Yeah..  It's def looking like it.  But one good thing to take from all the shenanigans is BTC has been very resilient even tho there was a huge sell down that went on this past week.  If something like the thing that's going on now happened last year it would for sure be a -10k move.  And that's just for the first couple of days.  There aren't that much sellers left anymore.  I know it sucks but we're all still lucky because it could be worse.  Let's hope it doesn't come to that.

[Cryptomiles1]

I still believe something certain about prices that may not go through as previous year. Let say if it was to compared with last year price movement or even classifying Month of March to last year March wouldn't end the same. As per the price this month bitcoin will really experience blood bath and it could go deeper to $18k before first week of April.

[tokeweed]

It's gonna be a crucial few of days for BTC if we see it break above 25k as the momentum seems to be going down.  It also seems like the US market is pulling it down due to sentiment.  Dunno...  Let's see what Asian and European markets bring.  But it looks like they don't have any effect anymore unlike 2020 - 2022 somewhat.  But then again, dunno.

What do you guys think?  Back to 20k or break out 25k?  :/  That could be the new range.

[tokeweed]

It's safe to say that the guys who voted 'yes' have it.  It kinda played around the level of resistance but eventually made a clean break above 25k then went to the 27k area and it looks like it's holding above it so far...  I'm guessing April's sentiment will be super duper bullish for the month for BTC and crypto overall.  I've already thought a fun poll.

Chart just for completeness' sake.  Pretty sure you guys have been looking at the same thing.

[AnonBitCoiner]

The month of march has almost been passed and the price of bitcoin Cross 25k$ and now it is up from 28k$. So the price of bitcoin for the month of march was very profitable and we hope they in remaining one day it will be increase but there is no guarantee that it will decrease or increase because the market has no trust for a second.

The month of march shows positive results for its holders and remain very lucky and successful month for all bitcoin holders. Estimation sometimes become difficult so we can only see the present worth but cannot say anything about future and as we see that the price is still high in the end of this month so it is hoping that it will attain greater value than current value.

[cryptomaniac_xxx]

The month of march has almost been passed and the price of bitcoin Cross 25k$ and now it is up from 28k$. So the price of bitcoin for the month of march was very profitable and we hope they in remaining one day it will be increase but there is no guarantee that it will decrease or increase because the market has no trust for a second.

But it's now on the $27,800, I don't know what's with that $28,500 because once we get to that price, it will go down immediately. Maybe the resistance for traders are too big and we are not going over that price mark at the end of the month.

The month of march shows positive results for its holders and remain very lucky and successful month for all bitcoin holders. Estimation sometimes become difficult so we can only see the present worth but cannot say anything about future and as we see that the price is still high in the end of this month so it is hoping that it will attain greater value than current value.

Yes, when we thought that it will be negative, the month turns out to be one of the best in the first 3 months. It will be January for the best month and then followed by March. And we will be very positive now this coming April and maybe, that barrier can be broken and we will go to $30k finally next month.

[Jating]

The month of march has almost been passed and the price of bitcoin Cross 25k$ and now it is up from 28k$. So the price of bitcoin for the month of march was very profitable and we hope they in remaining one day it will be increase but there is no guarantee that it will decrease or increase because the market has no trust for a second.

But it's now on the $27,800, I don't know what's with that $28,500 because once we get to that price, it will go down immediately. Maybe the resistance for traders are too big and we are not going over that price mark at the end of the month.

The month of march shows positive results for its holders and remain very lucky and successful month for all bitcoin holders. Estimation sometimes become difficult so we can only see the present worth but cannot say anything about future and as we see that the price is still high in the end of this month so it is hoping that it will attain greater value than current value.

Yes, when we thought that it will be negative, the month turns out to be one of the best in the first 3 months. It will be January for the best month and then followed by March. And we will be very positive now this coming April and maybe, that barrier can be broken and we will go to $30k finally next month.

You're right, that $28,500 is just like $25k at the end of February or early March. There is too much of that barrier that it seems we can't get over that hump. And if I'm not mistaken, it too us like 4x attempt to break the price. So could be possible for that $28k-$30k barrier and this could only be accomplished in another month or so. Just stay calm next month, for me if there is no negative news, we are going to be very bullish again and I'm seeing like $32k could be the next significant number for the month of April. And for sure, our OP will have another thread that we can discussed and then go back to see how it goes.

[dragonvslinux]

I'm guessing April's sentiment will be super duper bullish for the month for BTC and crypto overall.  I've already thought a fun poll.

Looking forward to a new poll  

It seemed like many were bearish towards the start of the month if not mistaken, as prices corrected to $20K. Not many expected price to reach $29K thereafter! I also think April will be neutral/bullish month. Either consolidation (like in February) around $30K old support level or another 10-20% to the upside. Even if we get a correction to $25K beforehand, I don't think this will change much.

This will be the first close back above the 50 Month MA since July last year, so it looks likely as a price level for bulls to defend if there is another pull-back early in the month.



I do understand the "sentiment" that with price already up +70% within three months that there should be a pull-back, but just like when price increased around 50% within two months, there was simply a 20% correction down to $20K before swift continuation to the upside. Hence, despite the already substantial increase, then I think only a 20-25% correction is that realistic, as opposed to 40-50% or more.

Also not forgetting what happened when we saw this type of momentum shift in 2019 of +70% from the lows to around $5K. It didn't stop, instead went even more parabolic