BTC Sentiment Poll for June

[minairia3]

After bitcoin failed to cross the $30k mark in April and May. I see people starting to be pessimistic again because before that, when bitcoin continuously went up from $17k to $28k, people always said bitcoin would cross $30k and hit $35k in Q1. People change so quickly and quickly forget everything. Regarding my prediction, I always expect bitcoin to not increase rapidly, as I need to accumulate more bitcoins for the upcoming bull season.

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[Poker Player]

Not much more to add to what I said in the other thread.

It is clear to me that in the almost year remaining pre-halving, the price will experience a rise perhaps to $50K or so to come back down and after halving already attack the previous ATH of $69K. This particular month or next month, it is hard to tell. I don't see anything that is going to move us significantly from the kind of sideways we are in. But at some point in the next few months the price will go up, that's for sure.

[Dollar_Hunter]

In June it looks like Bitcoin will continue for this uptrend it can be seen that $ 25k is not broken,
even though some time ago there was a Fomc meeting and interest rates rose but Bitcoin is showing strength,
yes I am grateful that the support is strong and most likely $ 30k or $ 35k this month can achieved.

[Doan9269]

After bitcoin failed to cross the $30k mark in April and May. I see people starting to be pessimistic again because before that, when bitcoin continuously went up from $17k to $28k, people always said bitcoin would cross $30k and hit $35k in Q1. People change so quickly and quickly forget everything. Regarding my prediction, I always expect bitcoin to not increase rapidly, as I need to accumulate more bitcoins for the upcoming bull season.

We are not in the Q2 of the year and nothing is too lateybto achieve, today is just the third day in June, we still have a long days remaining for the months and bitcoin can through any of these days surge higher above $30,000 we can also see a break limit above $40,000 because the more we are getting closer to the bitcoin halving which is believed the time where the market surges and we attain a new all time high.

[DeathAngel]

I voted ‘Yup’ in the poll. I don’t necessarily think we will moon in June but I think the price will be higher at June close than it was at June open. We are in the very early days of transitioning from bear market into bull market. I think the price will begin to creep up soon (if macro environment allows it). Just be calm & wait for parabolic upwards movement in the not too distant future (next 2 years).

[Yamifoud]

I voted ‘Yup’ in the poll. I don’t necessarily think we will moon in June but I think the price will be higher at June close than it was at June open. We are in the very early days of transitioning from bear market into bull market. I think the price will begin to creep up soon (if macro environment allows it). Just be calm & wait for parabolic upwards movement in the not too distant future (next 2 years).

Just like what I think. Though the market is unpredictable but based on the current performance and last month's performance, well, a bigger chance that it remain the same. Maybe we could expect a different situation in the 3rd quarter like halving and BER months is close to it but this June, we can't expect a rising trend on the market price. The price will still play between $25k to $30k like it was a bonus price if it reaches $32k. Indeed, we are still seeing a parabolic movement in Bitcoin price.

[Bitcoin2009]

It can be said that June will determine whether the market will rise or not in 2023, if the June price closes still below $30k then the opportunity for a rise will likely be difficult to happen, our hope to be able to see a market rising is when the halving occurs early in 2024.

[fzkto]

I thought the beginning of June would be hot because China lifted the ban on cryptocurrencies, but so far it has not affected the market. Hopefully it will happen in June and prices will start to rise. Although usually summer is not the best time for any market.

[dragonvslinux]

Price is currently testing the recent lows after news that Binance is being sued by the SEC. I think this could end up as a short-term sell-off, as Binance isn't a directly related to Bitcoin's future or success. Also as many are now suspecting incorrectly that Binance may be insolvent, but in reality they are being sued for their business practices, rather than being accused of not holding reserves. The only real concern is the claim that they have been co-mingling funds, similar to FTX, which while this may well be true, I don't think it's enough to send Binance into bankruptcy.

Already on short-term time-frames price is finding buyers under $26K again, so this may well end up being a fake-out for now.

[_BlackStar]

Price is currently testing the recent lows after news that Binance is being sued by the SEC. I think this could end up as a short-term sell-off, as Binance isn't a directly related to Bitcoin's future or success. Also as many are now suspecting incorrectly that Binance may be insolvent, but in reality they are being sued for their business practices, rather than being accused of not holding reserves. The only real concern is the claim that they have been co-mingling funds, similar to FTX, which while this may well be true, I don't think it's enough to send Binance into bankruptcy.

Already on short-term time-frames price is finding buyers under $26K again, so this may well end up being a fake-out for now.

Regardless of the recent binance issues or wallet hacks - I think June is month that really has great potential to see bitcoin test its new support below $26k. This correction is expected to take place in the short term and recovery will follow afterwards. I'm not worried about the percentage drop which has been over -5% in the last few hours - this is a test for long term holders.

I hope bitcoin won't drop below $25k during June - but $24k is still possible to become the next support if traders are still very panicked.

[monineklutak]

To be honest this June it's been really hard to predict where Bitcoin is going to go,
we're just at the start of the month but there's been some horrible bad news from the SEC that they're fighting Binance over some issues,

yeah becasue of that BNB dump and causing a panic sell happen in Bitcoin too,
I don't know if Bitcoin will be okay this month because if $20k is damaged then maybe we will have a hard time seeing bullish again.

[imamusma]

To be honest this June it's been really hard to predict where Bitcoin is going to go,
we're just at the start of the month but there's been some horrible bad news from the SEC that they're fighting Binance over some issues,

yeah becasue of that BNB dump and causing a panic sell happen in Bitcoin too,
I don't know if Bitcoin will be okay this month because if $20k is damaged then maybe we will have a hard time seeing bullish again.

Since Binance is one of the largest centralized exchanges out there, any negative news about it will impact the assets traded. Basically the future profit potential of bitcoin has nothing to do with the Binance case, I mean bitcoin is not dependent on Binance even though in the end Binance will file for bankruptcy.

So don't worry because whether bitcoin is bullish or not depends on supply and demand. If Binance fails, other exchanges will thrive and compete to be first. But I don't think Binance will fail despite being in a lawsuit with the SEC.

[KingsDen]

After bitcoin failed to cross the $30k mark in April and May. I see people starting to be pessimistic again because before that, when bitcoin continuously went up from $17k to $28k, people always said bitcoin would cross $30k and hit $35k in Q1. People change so quickly and quickly forget everything. Regarding my prediction, I always expect bitcoin to not increase rapidly, as I need to accumulate more bitcoins for the upcoming bull season.

That is why I voted for sideway movement. I also do not expect bitcoin to make a rapid movement upwards very fast. The price is somehow not too volatile, it is on a long run consolidation.
I also feel that the highest bitcoin can go before the halving days draw near is about $35k. If my analysis holds true, it therefore means that we can only cross $30k for a short time and return to this stage again.
We shouldn't hope for much this month, unless there will be a very strong news of hype which do not come always, rather bad news are fast to surface. But in the absence of fundamentals, bitcoin can touch $30k this month but will not dwell there for upto 7days.

[justdimin]

Price is currently testing the recent lows after news that Binance is being sued by the SEC. I think this could end up as a short-term sell-off, as Binance isn't a directly related to Bitcoin's future or success. Also as many are now suspecting incorrectly that Binance may be insolvent, but in reality they are being sued for their business practices, rather than being accused of not holding reserves. The only real concern is the claim that they have been co-mingling funds, similar to FTX, which while this may well be true, I don't think it's enough to send Binance into bankruptcy.

Already on short-term time-frames price is finding buyers under $26K again, so this may well end up being a fake-out for now.

Let it be whatever it is right now but the reality is that we are going to get over that again anyway. I know that a lot of people are wondering when that will happen but it is going to happen in the future and we shouldn't be worried about it neither. I know that price is bad right now, but binance is a global company and not based in USA right now, so they can be investigated as much as you want, and it will not come to any serious conclusion.

At the very worst case, CZ will never go to USA again and I doubt that matters to binance as a whole, just him. Binance.us could be at risk but they could just close it all together and americans will continue to use .com anyway and I believe that we should be seeing the price recover. Whenever it goes up, they just do a FUD about binance for some reason.

[tokeweed]

So if sell in May then June = Moon?    What do you guys think?

Down before up! Was thinking this might already occur in May, a re-test of $25K or $23K, but clearly this is taking longer than expected. Hence I voted for sideways for this month.

Also the so-called "China pump" clearly never occurred beginning of June as expected and otherwise there is a short-term bearish structure of lower highs indicating further lower lows. That said, I wouldn't be surprised to see price correct to lower levels and end the month around $30K. I'm still relatively bullish long-term until proven otherwise, but right now there isn't any upside momentum.

Yup, that's the plan.  But for a while there I thought we were on our way up without testing 23k - 25k support.  After hearing that there was some shenanigans between the SEC and Binance it's now looking like we could go test support and keep testing it without an immediate bounce as first thought.  

It's gonna be a rough one folks.  At current conditions some people could start thinking that the market cap of lots of these coins are way overvalued.  Like PEPE, for a new memecoin that went online just a couple of months ago is around 450 million USD in market cap..?  Lol.  Ain't buying any of that until it goes below 50 million market cap.  And even if you're just trading it for the potential upside, I think it's not a pump fist buy.  Just waaay too overvalued...

Lots of these alts need to go down big time.

[dragonvslinux]

Price is currently testing the recent lows after news that Binance is being sued by the SEC. I think this could end up as a short-term sell-off, as Binance isn't a directly related to Bitcoin's future or success. Also as many are now suspecting incorrectly that Binance may be insolvent, but in reality they are being sued for their business practices, rather than being accused of not holding reserves. The only real concern is the claim that they have been co-mingling funds, similar to FTX, which while this may well be true, I don't think it's enough to send Binance into bankruptcy.

Already on short-term time-frames price is finding buyers under $26K again, so this may well end up being a fake-out for now.

Let it be whatever it is right now but the reality is that we are going to get over that again anyway. I know that a lot of people are wondering when that will happen but it is going to happen in the future and we shouldn't be worried about it neither. I know that price is bad right now, but binance is a global company and not based in USA right now, so they can be investigated as much as you want, and it will not come to any serious conclusion.

Binance US is based in the USA, that's their US arm. The accusations is however that they have been allowing US customers on their main platform (that I think we all knew), and even providing assistance to some big traders on how to circumvent the so-called restrictions, among other claims. Yes Binance is a global company, but the SEC does have a lot of reach when it comes to costing them a lot of money.

The reality is we've never seen a SEC lawsuit this size against such a big crypto exchange, so it's impossible to tell the outcome, ie whether they settle, win or lose.

[tokeweed]

^  I'm not going to pretend that I know what's going on but it feels like there's some parallels with how the regulators handled online poker in the US when they implemented the UIGEA and basically isolated the US poker players from the  rest of the world...  It sucked for the guys in the US as their player pools shrinked from one being connected to the whole world to something limited within their state.  :/  And not all states legalized online poker.

Anyway just 10 votes after a week?  C'mon guys...  Let's get more votes in.

And I guess sideways would look like this?



After the bounce, it looks like we're going back to how it was going prior to it.

[dragonvslinux]

And I guess sideways would look like this?



After the bounce, it looks like we're going back to how it was going prior to it.

Surprising to see most people vote sideways for a change. It's a good sign that people aren't too bullish right now at least, even if maybe they should be a bit more bearish given the current correction.

As for the sideways theory, I'm not too convinced. Once price eventually reaches $25K level, that's looking increasingly likely, it will either act as support or fail imo, rather than any prolonged attempt to hold it as support. I say this as there is a lot of fear in the market right now with what the SEC is up to, even if it doesn't directly effect Bitcoin what so ever, people are still selling regardless it seems.

Personally I still find it more likely for price to re-test around $23K, potentially with a more capitulation style candle/event given the current market sentiment, followed by a swiftly returning back above $25K. Not so dissimilar to $20K correction that quickly returned to $25K. Despite the background noise, I don't see much different so far with the current correction than that of March. The only difference is we haven't seen the quick move to the downside yet, but instead a slow grind downwards with low volume or support, but I think we are getting closer to an increase in volatility in order for lower prices to arrive.

[Gianluca95]

Price will be stable along this month and also for the next months. I think that we're not ready yet for a price increment, we have to wait some other months, maybe we should see something of interesting at the end of the

year but not now. Let's hope that quantitative easing will restart soon, this will let dream us 

[dragonvslinux]

And I guess sideways would look like this?



After the bounce, it looks like we're going back to how it was going prior to it.

Surprising to see most people vote sideways for a change. It's a good sign that people aren't too bullish right now at least, even if maybe they should be a bit more bearish given the current correction.

As for the sideways theory, I'm not too convinced. Once price eventually reaches $25K level, that's looking increasingly likely, it will either act as support or fail imo, rather than any prolonged attempt to hold it as support. I say this as there is a lot of fear in the market right now with what the SEC is up to, even if it doesn't directly effect Bitcoin what so ever, people are still selling regardless it seems.

Personally I still find it more likely for price to re-test around $23K, potentially with a more capitulation style candle/event given the current market sentiment, followed by a swiftly returning back above $25K. Not so dissimilar to $20K correction that quickly returned to $25K. Despite the background noise, I don't see much different so far with the current correction than that of March. The only difference is we haven't seen the quick move to the downside yet, but instead a slow grind downwards with low volume or support, but I think we are getting closer to an increase in volatility in order for lower prices to arrive.

I say this as there is a lot of fear in the market right now with what the SEC is up to, even if it doesn't directly effect Bitcoin what so ever, people are still selling regardless it seems and Binance.us could be at risk but they could just close it all together and Americans will continue to use .com anyway and I believe that we should be seeing the price recover. Whenever it goes up and If my analysis holds true, it therefore means that we can only cross $30k for a short time and return to this stage again and At current conditions some people could start thinking that the market cap of lots of these coins are way overvalued.

The reality is according the usual Fear & Greed Metric there isn't any fear in the market yet: https://alternative.me/crypto/fear-and-greed-index/

For sure there is a lot of concern and uncertainty right now, especially of what could happen next with the likes of Crypto.com suspending it's US activities, but ultimately we haven't seen any real fear hit the market yet. This is why I say if price breaks below $25K we could see some genuine fear in the market again, as right now the market sentiment remains relatively neutral despite all the news of late. Either that of the current concern will pass, $25K will hold as support and the bullish trend continues. As despite the pull-back and correction, the market hasn't even begun to enter in a bearish period yet.

In summary, if you're someone who buys fear and sells greed, then this isn't the buying stage yet. We have yet to see whether fear will appear in the market or not.