BTC Sentiment Poll for October

[Yaunfitda]

^^ Ok thanks for this news, I was actually looking as to what has caused the sudden spike of the price in the last 24 hours. So there's was supposedly a leak news but it was fake.

But in the positive side, the price has taken off to $28k already, but we should be very cautious as it might fall back to $26k. Or if investors doesn't mind the news then maybe we can still hold on to this price up until the end of the month, it will be good then for the market, even if there is some entity with clear manipulation from behind.

It also appears that it is not only bitcoin that is being targetted by fake news. There is also other fake news being shared that the creators of Roblox has begun accepting XRP for payments.

Are they beginning to use fake news as a tactic to anger the SEC? Uncle Gary is scratching his head.

[..snip..]

On social media, false claims can spread like wildfire—even well after the source media has been deleted.

Roblox has denied that it will support XRP payments, despite claims that spread widely on Tuesday, telling Decrypt that any suggestion that gamers could buy Robux to pay for in-game items with Ripple’s XRP token is “inaccurate.”

The rumors began swirling late Monday when payments processor BitPay tweeted that users could begin using Ripple’s XRP token for Xsolla payments in supported games—and tagged the free-to-play games Roblox and Smite.

When asked why the tweet was deleted, BitPay CMO Bill Zielke told Decrypt via email: “There was an error in the tweet.

Source https://decrypt.co/202077/roblox-debunks-inaccurate-xrp-claims-says-crypto-payments-not-allowed

I read that there is a rumor that Gary himself was fired as a SEC chairman.

[..snip..]
https://twitter.com/twobitidiot/status/1714247871418044500

His allege firing though has nothing to do with crypto, but in some political role he did in the past. Although this rumors has been circulated for months already specially after he appeared in Congress and it seems that the law maker is not fond of Gary, on how he answered the questions regarding crypto in general. And so the fake news continues and it's very important that we know how to read between the lines and not fall for it.

The rumor is very headshaking and will certainly only trick the people who does not know that the president cannot fire an SEC chairman. There needs to be a reason that is impeachable and if the SEC chairman is impeachable, it will be argued and voted in congress.

In any case, it appears that this grandma Elizabeth Warren is attacking crypto with fud again. I speculate this fud might manipulate uncle Gary to reject the applications for the ETF again that have a deadline on November.



Sen. Elizabeth Warren, D-Mass., along with more than a hundred other lawmakers, said she is concerned about how Hamas raised millions of dollars through cryptocurrency and wants answers from the administration of President Joe Biden.

The slew of bipartisan lawmakers cited a report from the Wall Street Journal last week that said Hamas, along with other militant groups, used crypto as a financing tool ahead of attacks in Israel earlier this month. The letter was sent on Tuesday to the Treasury Department and the White House.

Source https://www.theblock.co/post/258183/sen-elizabeth-warren-joins-more-than-100-lawmakers-to-ask-biden-about-plans-to-prevent-crypto-financed-terrorism

And that's why it is called fake news though, because there could be some gullible individuals who might fall for this news and then think that's true and so fuelling the bull run, they buy more bitcoin. But then again, this manipulators will go and sell, making huge profits and then those newbies is left shaking their heads as to what happen.

So very important what we read everything out there, on the contrary though, regarding the Hamas news? The market is not shaken, on the contrary, we might have to hit $29k again. And when we thought that this October is another month that we will see a sideways pattern, we could be in for a unexpected $30k'ish or close to it.

[Out of mind]

We have seen the Bitcoin market change almost since the beginning of October. The price of Bitcoin rose to touch $30,000 a few days ago, when the ETF for Bitcoin was reported on various social media. However, the market is moving towards that position and currently the Bitcoin market candles are looking really good. The green candles in the Bitcoin market are encouraging investors to hold on to Bitcoin. Today, the Bitcoin market is hovering above $29,000 with a 3.50% increase in price, and it is really good to see the position of this market.  Bitcoin market is currently doing well in October compared to last month, and we expect Bitcoin market to be around $32000 by the end of this month. Moreover, it is expected that Bitcoin will undergo more drastic changes in the following new months.

[dragonvslinux]

I'm a little confident that bitcoin might be touching the $30k level as the market sentiments are more than 60% bullish. I guess that should be enough to push bitcoin price a little higher than what we have currently at $28k. Plus, bitcoin have lowkey gained momentum since Sep until Oct it gained more than a thousand dollars in a 1 month time frame. I thought it's going to become worst than the August to September run, since bitcoin started dropping in June. This little momentum right here is telling is something that we're gonna start seeing a rise gradually until the next bitcoin halving. So yeah I'd give a little faith on the $30k mark at the end of October though we only have like 2 weeks max until November.

Yup, judging from the price action rn, BTC could be on its way in there.  And all the fake news talk, I dunno...  As long as there's a break out through 28k resistance and it stays above it, then that's all that matters.  We shouldn't really care the reasons for the move as we're just here to make a trade and make a little bit of money out of it.  And if the trade goes against us due to again whatever reason, we exit at a small loss.

In the longer-term breaking above $28K is somewhat meaningless, apart from as you say for trading purposes. It's happened twice before but failed to break through the $30K-$32K level.

Overall price has been in a range between $25K and $32K for 7 months now. Breaking back above the mid-level around $28K only increases the chances of testing the upper bound of the channel, not much else in my opinion. Sure the resistance will weaken the more times it is tested, but after the double bottom from $25K price has only re-affirmed the current range, rather than brought it into doubt.

Haven't posted for a month or so as quite frankly price has been barely moving so not much to talk about speculation wise. I'm still in the camp of thinking that we'll remain in this range until the end of the year. Many bears were expecting $25K to break as support and lower levels to be tested, but clearly that failed. Next up many bulls will expect $32K to break to the, but it probably won't imo.

I see the bullish structure in play that the range is above the formation of a low, and the target would be 50-100% up once it's broken, but this is only based on breaking out of the range to the upside which is unproven. Remaining within the range is quite simply neutral right now. For sure you could call it an accumulation zone (which I think it is), but if price breaks below $25K it will in fact be a distribution zone instead.

[tokeweed]

^  Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.  And it looks like BTC got up there really fast to test it.  Lol.  I guess we'll be needing some good news to get above it and the fake ones just won't cut it anymore.    We need the real ones now.

All in all, fake news or real news it's looks pretty good imho.  Just some resistance at 30k but it's not a surprise...  Stay safe out there guys.

[dragonvslinux]

^  Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.  

It's only meaning is confirming $25K as a double bottom as well as the current range, which previously was in doubt. Holding it as support doesn't increase the chances of breaking above $32K imo, only of re-testing it as part of the current strong range. I don't doubt there will eventually be a break of $32K, most likely from the current long-term range, but unlikely it will happen anytime soon. $30K seems somewhat irrelevant as a resistance level now, it's purely psychological as $32K has established itself as the top of the range (similar to May 2022). Either way it'll need a lot more volume than present to break-out up or down.

Let's not forget that price was previously in a range of $15K to $25K for 9 months, so not it's worth getting surprised by remaining in the range for another two months, in fact it'd be quite fitting for market structure to repeat itself. Being bullish because price as found support from $25K and bearish when rejected from $30K/$32K, in the long-term view, is clearly becoming pointless. Finding the support from $25K again has invalidated the bearish outlook, but this doesn't make it bullish, simply back to neutral for the immediate term. Similar to rejection from $32K again, it wouldn't be bearish, simply still neutral within the range.

Ultimately we've established a range for 7 months and remain neutral within it. Anyone being bullish/bearish in the immediate term during this period was wrong, there's no denying that. Eventually either the bulls or bears will be right when the range breaks - and no doubt they'll say they told you so. But by that time those bulls/bears will be wrong enough times that being right eventually won't be that surprising either.

And it looks like BTC got up there really fast to test it.  Lol.

We also went from $27K to $30K within two days back in June, but alas the resistance around $32K kept prices within the range. The exception to my analysis would be if an ETF get's approved, then sure there will likely be a moonshot to the upside out of the range. But personally I don't see this happening anytime soon either, likely early 2024, around the same time when the range will be broken based on current time-frame.

Fundamentally I think we need to break the current market structure of going from the top of the range to the bottom and visa versa. For example re-testing $32K resistance then actually holding $28K as new support, this would be the first step towards being able to invalidate the range. Without that, price is most likely going to continue ping-pong between support and resistance until something changes...

[aylabadia05]

All in all, fake news or real news it's looks pretty good imho.  Just some resistance at 30k but it's not a surprise...  Stay safe out there guys.

This could be good news for those who have been waiting a long time for the new support price to strengthen in order to look at the next price above 30k.
Apart from the various speculations described regarding the events that caused the price of Bitcoin to reach 30k. We really enjoy the market price movements for Bitcoin.

We're still safe here
Now I will leave the Bitcoin price chart tab open for the next few hours to wait for Bitcoin to reach 30.5k.

[Pierre 2]

I feel like there is big barrier in 30k that will give Bitcoin hard time to break. Not sure what to say at this point. I bet Bitcoin wouldn't break 30k on twitter with people but I lost. I feel like we will watch Bitcoin from 27k to 30k levels. I still reject to invest right now because I am little bit worried as we experienced this after fake news. I feel that market sentiment is clear, people are hungry for more but it's not time yet.

[GeorgeJohn]

I feel like there is big barrier in 30k that will give Bitcoin hard time to break. Not sure what to say at this point. I bet Bitcoin wouldn't break 30k on twitter with people but I lost. I feel like we will watch Bitcoin from 27k to 30k levels. I still reject to invest right now because I am little bit worried as we experienced this after fake news. I feel that market sentiment is clear, people are hungry for more but it's not time yet.

Bitcoin price reaching thirty thousand is not a new thing because I believe that the price of bitcoin don't be stagnant, it fluctuates and since it fluctuates that means that bitcoin price is something I know quite well that have to deal with information, some people do not invest in bitcoin when they see that price of bitcoin is decreasing but immediately they seen that bitcoin price is increasing they do rush and purchase bitcoin, so therefore when the price of bitcoin increases some people who is not acquainted with bitcoin investment  will invest in order to make profit

[bbc.reporter]

I feel like there is big barrier in 30k that will give Bitcoin hard time to break. Not sure what to say at this point. I bet Bitcoin wouldn't break 30k on twitter with people but I lost. I feel like we will watch Bitcoin from 27k to 30k levels. I still reject to invest right now because I am little bit worried as we experienced this after fake news. I feel that market sentiment is clear, people are hungry for more but it's not time yet.

Agreed on a barrier on $30k, however, this barrier will certainly not stop bitcoin from pumping over the barrier because there are inflows of fiat going in the cryptospace through Tether. September 20 witnessed an inflow of $999 million USDT and on October 20 witnessed another $999 million inflow of USDT. If there is another inflow of $999 million where would this bring bitcoin? A pump more than $35k, I reckon.



TETHER PRINTER
Just printed $999,955,644 USDT!

Source https://twitter.com/usdcoinprinter/status/1715159653301076268?s=12&t=fx2RmsbaS0qNJTJTdpNu2w



Also, this is only USDT. I speculate that Blackrock will use USDC because they have ownership shares on Circle.



Circle, a major peer-to-peer payments firm and the principal operator of the UDC Coin
USDC has announced a $400 million funding round and a new partnership with the American investment firm BlackRock.

Read in full https://cointelegraph.com/news/blackrock-joins-stablecoin-issuer-circle-s-400m-funding-round

[YOSHIE]

How do you feel October will end up for BTC?

Little by little the crypto market has shown itself to move Bitcoin, this shows that in October 2023, several speculations can be declared successful, Today Bitcoin is traded at around $30k, perhaps this shows goodness for Bitcoin users and investors.

On the other hand and some of the speculation that I have seen, December Bitcoin will position itself in a better direction, perhaps above $40k. What many people feel and dream of may be achieved, I look at my own speculation for the upcoming halving.

For this election I agree with point number two, above $30k.

[STT]

Near term bullish vs that June through August fall trend that resulted in the waterfall end to it.  This contrast from immediate action to that older historic action and any prior selling above 30k is probably going to take something extra to overcome.   We'll need to pullback and confirm a level that still equates to bullish foothold before properly rising ?
  It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet.  BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.

[Juse14]

Near term bullish vs that June through August fall trend that resulted in the waterfall end to it.  This contrast from immediate action to that older historic action and any prior selling above 30k is probably going to take something extra to overcome.   We'll need to pullback and confirm a level that still equates to bullish foothold before properly rising ?
  It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet.  BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.

To arrive at the last Ath I think it's impossible for BTC in Athun, considering that the movement is also a little slower and it is not possible to be achieved with the next two months, there must be an event that makes Bitcoin to that point, if limited to potential From the moving chart it will be difficult in my opinion, while BTC Dominance is not so strong and still gathering its strength to push even higher.

Today, even though BTC is at the $ 31K harag level, it is not necessarily that BTC will continue to move, and the $ 30K level has not been clearly confirmed to be the strongest support, we need time to maintain prices at $ 30K to be a logical support price.

[virasog]

Near term bullish vs that June through August fall trend that resulted in the waterfall end to it.  This contrast from immediate action to that older historic action and any prior selling above 30k is probably going to take something extra to overcome.   We'll need to pullback and confirm a level that still equates to bullish foothold before properly rising ?
  It'd be nice to end the year at the highs and beyond any prior price achieved but thats the fairy tale ending I dont know we get it or deserve it just yet.  BTC is best when the price action earns its place after defeating sellers and leaving them worse off then it might pick up momentum.

To arrive at the last Ath I think it's impossible for BTC in Athun, considering that the movement is also a little slower and it is not possible to be achieved with the next two months, there must be an event that makes Bitcoin to that point, if limited to potential From the moving chart it will be difficult in my opinion, while BTC Dominance is not so strong and still gathering its strength to push even higher.

Today, even though BTC is at the $ 31K harag level, it is not necessarily that BTC will continue to move, and the $ 30K level has not been clearly confirmed to be the strongest support, we need time to maintain prices at $ 30K to be a logical support price.

I think the Bitcoin prices not in a bullish state right now even though we have cross the 30000$ mark. Also this is the beginning of the week when we see the price break that 30k mark I won't be surprised if by the end of the week we may again go down making it a false break.

But still I will not recommend to short  the Bitcoin because we are approaching near the halving and most probably Bitcoin will move upwards more than the downward direction.

If you want to invest then it's a good time to buy Bitcoin but you need to be careful if you're trading bitcoin for short term at this moment.

[el kaka22]

The whole sentiment about Hamas raising millions thanks to bitcoin is not what they are worried about, Pablo Escobar lived at a time when bitcoin wasn't a thing for another 2+ decades and he raised 20+ billion dollars, and his 20 billion dollars worths more than todays 100 billion as well when you consider inflation, dude was burning money to keep his daughter warm, imagine how rich that dude was.

However, what they are worried about is that the money they have, which is dollars, is no longer the preferred method, they rather have dollar be used in bad stuff as well along with good things just to keep dollar powerful. But if we all start to use bitcoin and ignore dollars, that would mean that it would lower the power of dollars and that should not be all that good, we could end up with something wrong there. I hope that people could realize that lawmakers are not there to keep the nation powerful, they are there to keep their power strong so they can do whatever they want.

[ShowOff]

-

I think the Bitcoin prices not in a bullish state right now even though we have cross the 30000$ mark. Also this is the beginning of the week when we see the price break that 30k mark I won't be surprised if by the end of the week we may again go down making it a false break.

But still I will not recommend to short  the Bitcoin because we are approaching near the halving and most probably Bitcoin will move upwards more than the downward direction.

If you want to invest then it's a good time to buy Bitcoin but you need to be careful if you're trading bitcoin for short term at this moment.

In the last few hours, bitcoin managed to break the $31k resistance. This is good news, but of course you need to be aware of the potential for correction due to a saturated market. The $32k resistance has been expected to break after this, but a correction is inevitable if $32k fails.

The current highest price is $31,200, that's the same price in mid-July. There are good hopes of getting $32k broken in the rest of the month, I don't expect it to fail again like it did in July. The impact of spot bitcoin ETF is starting to be felt, even if a spot bitcoin ETF has not yet been approved. There is FOMO or something like that among investors, but they seem to be getting in at the right time.

[Out of mind]

I was really surprised by the way the Bitcoin market went up yesterday. The most pumped within a short period of time is the Bitcoin market where the price of Bitcoin reaches a high of $35228. October 2023 will be the biggest rally in October 2023, with Bitcoin hitting $40,000 before the end of October. Because the price of Bitcoin has skyrocketed in such a short period of time, $40,000 doesn't matter. Also, many people lost money yesterday who were in futures trading, I saw a tweet on Twitter where people lost their $310 million in no time. In just a short period of time, those who went short on Bitcoin lost money, while those who went long made huge profits. Moreover, Bitcoin has pumped the maximum this year, we can hope that Bitcoin market will reach $40k dollars soon.

photo

[tokeweed]

^  Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.  

It's only meaning is confirming $25K as a double bottom as well as the current range, which previously was in doubt. Holding it as support doesn't increase the chances of breaking above $32K imo, only of re-testing it as part of the current strong range. I don't doubt there will eventually be a break of $32K, most likely from the current long-term range, but unlikely it will happen anytime soon. $30K seems somewhat irrelevant as a resistance level now, it's purely psychological as $32K has established itself as the top of the range (similar to May 2022). Either way it'll need a lot more volume than present to break-out up or down.

Let's not forget that price was previously in a range of $15K to $25K for 9 months, so not it's worth getting surprised by remaining in the range for another two months, in fact it'd be quite fitting for market structure to repeat itself. Being bullish because price as found support from $25K and bearish when rejected from $30K/$32K, in the long-term view, is clearly becoming pointless. Finding the support from $25K again has invalidated the bearish outlook, but this doesn't make it bullish, simply back to neutral for the immediate term. Similar to rejection from $32K again, it wouldn't be bearish, simply still neutral within the range.

Ultimately we've established a range for 7 months and remain neutral within it. Anyone being bullish/bearish in the immediate term during this period was wrong, there's no denying that. Eventually either the bulls or bears will be right when the range breaks - and no doubt they'll say they told you so. But by that time those bulls/bears will be wrong enough times that being right eventually won't be that surprising either.

And it looks like BTC got up there really fast to test it.  Lol.

We also went from $27K to $30K within two days back in June, but alas the resistance around $32K kept prices within the range. The exception to my analysis would be if an ETF get's approved, then sure there will likely be a moonshot to the upside out of the range. But personally I don't see this happening anytime soon either, likely early 2024, around the same time when the range will be broken based on current time-frame.

Fundamentally I think we need to break the current market structure of going from the top of the range to the bottom and visa versa. For example re-testing $32K resistance then actually holding $28K as new support, this would be the first step towards being able to invalidate the range. Without that, price is most likely going to continue ping-pong between support and resistance until something changes...

Mmmm dunno...  As far as I'm concerned, the double bottom was confirmed when BTC made a higher low around Sept 25 and again around Oct 11.  The run up to 28k for me and breaking clean above it was a confirmation to start getting in as momentum has been building up.

But I'm not really gonna argue...  Technical analysis is a fickle thing.  One guy interprets it one way while the other guy interprets it another way but they both come to the same conclusion.

[danadc]

^  Not sure about 28k being meaningless if it's going to need to hold as solid support for the next break out above 30k.  

It's only meaning is confirming $25K as a double bottom as well as the current range, which previously was in doubt. Holding it as support doesn't increase the chances of breaking above $32K imo, only of re-testing it as part of the current strong range. I don't doubt there will eventually be a break of $32K, most likely from the current long-term range, but unlikely it will happen anytime soon. $30K seems somewhat irrelevant as a resistance level now, it's purely psychological as $32K has established itself as the top of the range (similar to May 2022). Either way it'll need a lot more volume than present to break-out up or down.

Let's not forget that price was previously in a range of $15K to $25K for 9 months, so not it's worth getting surprised by remaining in the range for another two months, in fact it'd be quite fitting for market structure to repeat itself. Being bullish because price as found support from $25K and bearish when rejected from $30K/$32K, in the long-term view, is clearly becoming pointless. Finding the support from $25K again has invalidated the bearish outlook, but this doesn't make it bullish, simply back to neutral for the immediate term. Similar to rejection from $32K again, it wouldn't be bearish, simply still neutral within the range.

Ultimately we've established a range for 7 months and remain neutral within it. Anyone being bullish/bearish in the immediate term during this period was wrong, there's no denying that. Eventually either the bulls or bears will be right when the range breaks - and no doubt they'll say they told you so. But by that time those bulls/bears will be wrong enough times that being right eventually won't be that surprising either.

And it looks like BTC got up there really fast to test it.  Lol.

We also went from $27K to $30K within two days back in June, but alas the resistance around $32K kept prices within the range. The exception to my analysis would be if an ETF get's approved, then sure there will likely be a moonshot to the upside out of the range. But personally I don't see this happening anytime soon either, likely early 2024, around the same time when the range will be broken based on current time-frame.

Fundamentally I think we need to break the current market structure of going from the top of the range to the bottom and visa versa. For example re-testing $32K resistance then actually holding $28K as new support, this would be the first step towards being able to invalidate the range. Without that, price is most likely going to continue ping-pong between support and resistance until something changes...

Mmmm dunno...  As far as I'm concerned, the double bottom was confirmed when BTC made a higher low around Sept 25 and again around Oct 11.  The run up to 28k for me and breaking clean above it was a confirmation to start getting in as momentum has been building up.

But I'm not really gonna argue...  Technical analysis is a fickle thing.  One guy interprets it one way while the other guy interprets it another way but they both come to the same conclusion.

The technical analyzes are very good but when they are very short term, that is when I see that they are very useful, some of the analysts had not perfectly predicted that it would reach $35k because that is what we can say it could be, but I don't know anything about bitcoin in terms of technical analysis, I have to study it more in depth, but I think that how it is going and how it is doing all the feelings of the people can reach $40k because they are lending themselves to the emotions and so that As they see that the bitooin is going up, people buy, I don't understand why they do that, they buy when it goes up instead of buying when the price goes down, but people are like that, the logical indicator that I think is happening is that people are very excited to buy bitcoin.

[Aanuoluwatofunmi]

There's no how you could accurately predict the moves on bitcoin market pattern because it will always go by the tune of what it's demands and supplies gives and these are the elements that the speculations we make carries from the chart when we study them, it seems the season is set on for a bullish trend this time and there's more probability of going more bullish than bearish althrough this month of October.

[tokeweed]

Wow...  Who would've thunk.  We're looking at a clean break out above 31k - 32k and if BTC goes down and retests that 31k - 32k range and holds, we got an S/r flip and it's gonna be a comfy trade for the guys who got in at the ranges below.  

I already got an idea what to ask in the BTC sentiment poll for November.    You guys are gonna love it.