BTC Sentiment Poll for July

[TravelMug]

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

I was hoping to see bitcoin price close around $62k but even that seem to be really hard, despite ETF inflow has been raking money around $294 million alone in 8th of july according to theblock eth inflow/outflow data and also the big player like black rock buying bitcoin by the hundred millions market still get pulled down again. People already learned to buy the dip but there's just as you said some entity trying to pull the market down trying to pull string behind the scene.

on the other hand ETH because of its ETF is still going strong but I expect it to be weak since the market trend and sentiment isn't that good.
really hoping that the bullrun isn't over yet here. Having the ATH just a little bit higher than previous one feels kinda incomplete.

I don't know about the ETF, but they say that's its already price-in, and even if there is a big flow right now, it's not enough to put the market and to climb back to $60k at least for this week. What surprises me is the way the market moves in 4 hour timeframe, we almost touches $58,500 and now we are down again to $57k'ish.

So it's really hard to go up when there are selling pressure at this point. Let's just hope that we can at least maintain this level around $56k and up, it's the biggest support line that we have this July. But if we look at the bigger picture, at least at the end of the year, we might be going on a bull run already.

[justdimin]

^  Oof, 38k?  RIP market.    I don't think that's happening tho.  Not with the current price action at least.    It looks like it's fighting to go back above 60k.  I guess if we see it go back and stay above 60k in a couple of weeks then that's a good sign.  I'd rather see a slow trend back up than a quick buy up which could mean it's also gonna go for a sell down.

But yeah, 6 days more to go before I lock the poll.  Please get more votes in so we somewhat get an idea of BCT's sentiment.

I agree that it will probably not see 38k, that seems very low, hell I do not think that it will go down under 50k neither, the drop has already happened and I do not think that we are going to see it drop any further, I think it is going to keep staying at this level. Of course this is just my thought and I could be wrong about it, we just need to wait and see what is going to happen.

I believe that the best thing we can do right now would be wait and see how it goes. This of course is a difficult thing to handle, because many people think that it will keep dropping like that person, but I disagree and if I can keep holding for as long as I can, then I think it will recover and see 60k+ once again, its only matter of time.

[SmartGold01]

I agree that it will probably not see 38k, that seems very low, hell I do not think that it will go down under 50k neither, the drop has already happened and I do not think that we are going to see it drop any further, I think it is going to keep staying at this level. Of course this is just my thought and I could be wrong about it, we just need to wait and see what is going to happen.

I believe that the best thing we can do right now would be wait and see how it goes. This of course is a difficult thing to handle, because many people think that it will keep dropping like that person, but I disagree and if I can keep holding for as long as I can, then I think it will recover and see 60k+ once again, its only matter of time.

It baffles me seeing people mad over price of bitcoin although as holder it's actually tempting to see that your assets is gradually depreciating in price and for that you wouldn't have that mindset to involved yourself with DCA, because you could think that price is gonna drop drastically if you keep accumulating but forgotten that it doesn't work that. There is always time for all season and if now is meant for bear you would see that price keep dropping uncontrollably except that person fully understand the market conditions that changes overtime or every seasons.

[bettercrypto]

I don't believe bitcoin prices can still be predicted using chart reading. With the way new trends and fuds appear all the time, I don't think I can still make my judgement based on the chart or previous price action. 
 
But since the MtGox refund fear has already been calmed by panic sellers, what else do we have that will keep Bitcoin from progressing to a bullish level? I don't think there is anything. What we are seeing now is a price correction, which means that in due time, judging from the way the price is moving, we can see Bitcoin go back to $65,000 before the week runs out, and if that's achieved, then I don't think we can go back to $59,000 ever again this month.

When you said that, I can also really say that the bitcoin price is really difficult to determine when or where its price will actually go. Although, at the moment, what we are facing is still in the current correction.

We don't know how far its consolidation will run from Bitcoin's support and resistance in the market. Just let's really expect how long its range is. For sure, the rally that Bitcoin will do once it really starts in the market will be that long.

[pooya87]

Being bearish is one thing, expecting weird and massive crashes is another thing. Some people are going too far with their crash predictions here

In any case I still think the potential is there for a big rally and we are in post halving days where the supply is cut by half which reduces the sell pressure on the market making it easier to rise.
But at the same time we have the world economy that is in pretty bad shape with the deepening recession and the sticky inflation. So that is scaring the money away specially since the high interest rates is absorbing part of it.

Sideways is more possible than either bull or bear market.

[bbc.reporter]

@pooya87. Agreed! However on your big rally argument, I am beginning to be bearish. This might not occur without a very good cause. The ETF and the halving have occured already. There was also Larry Fink who went to different news outlets to talk about bitcoin. If the spot ETF for Ethereum cannot pump in new bullishness for the whole cryptospace, it would be headshaking to expect bitcoin to pump to $60k and move over this. It also appears that there will be much rejections on this trendline.

[Jating]

Being bearish is one thing, expecting weird and massive crashes is another thing. Some people are going too far with their crash predictions here

In any case I still think the potential is there for a big rally and we are in post halving days where the supply is cut by half which reduces the sell pressure on the market making it easier to rise.
But at the same time we have the world economy that is in pretty bad shape with the deepening recession and the sticky inflation. So that is scaring the money away specially since the high interest rates is absorbing part of it.

Sideways is more possible than either bull or bear market.

And I would take sideways as what we are seeing right now, than a bearish trend. Obviously though there are some news about the German government dumping their Bitcoin, but I think that effect is not that bad as what others have portrayed and they are just creating FUD.

Yeah, for sure others who have seen halving already shouldn't worry that after a month or two, there is no movement. But remember that we are still very far from the end of the year, I'm expecting huge movement in the last quarter so we should not worry and panic at all.

[el kaka22]

Obviously there will be people who will seek for the furthest edges that they can make people believe. So, this person couldn't say 300$ for example, nobody would find that realistic, so what would be the lowest realistic number that you can think at the bottom?

For this person it was 38k, for most of us that is not even possible and too low, but at least it is not unrealistic. Whereas some other person may come up and say that they think we will be 100k soon in a few months, not 500k, just 100k, still very unlikely for that to happen within a few months, but at least a realistic number. These type of look for the highest sides considering the situation we are in and we should be considering how to make that work as much as we can. I believe it will be something in between.

[tygeade]

And I would take sideways as what we are seeing right now, than a bearish trend. Obviously though there are some news about the German government dumping their Bitcoin, but I think that effect is not that bad as what others have portrayed and they are just creating FUD.

Yeah, for sure others who have seen halving already shouldn't worry that after a month or two, there is no movement. But remember that we are still very far from the end of the year, I'm expecting huge movement in the last quarter so we should not worry and panic at all.

I agree that dumping is mostly FUD and not a real threat, you know why? The reality is that they are not going to sell it on market price and dump it all, they will look for someone who is willing to buy it all whole sale, so they can make most of it.

Selling all of that 50k all at once on a market, like lets say binance, would mean that they would lose a lot, instead they could sell it for 5-10% discounted price and sell it all. When they do that, they are not really dropping the price, since it's over the counter trade, that will not impact the price at all, which means that all of these people who are selling right now because they fear that situation, are making a mistake and they have no idea how any of this works.