BTC Sentiment Poll for August

[philipma1957]

the four price cycle belief is dooming btc.

plain and simple.

and when the whales crack and bust the four year cycle are the believers in it will feel really taken

[LUCKMCFLY]

BTC has to cross 70K and stay above it for a week or two, and that will confirm bullish momentum in BTC. Below 70K, and we can still visit the lows like 58K or maybe even 56K too.

This series of events presents an ideal scenario for BTC to establish a sustained bullish trend; however, we have to wait. Some articles and news reports suggest that the price of BTC may fall, although I'm sure these could just be false alarms, generating panic so that weak hands sell BTC and large investors buy more BTC at a lower price.

For now, I can't say with any certainty what the sentiment might be in August, as the price has been fluctuating. Your suggestion that the price range is $62-$65k seems very accurate and suitable for continuing in the accumulation period, ideal for continuing with the DCA method and, if drops occur, making gradual BTC purchases.

[Btcdeybodi]

I do not believe that the bottom has been reached because September is also a red month going by historical data, what this means is that if the price of bitcoin is unable to make any bullish movement before the end of this month, September might start with the price falling below $60k which will end up creating a new bottom.

I believe Bitcoin is still heavily influenced by its 4 year cycle, but I do not put much faith in historical data based on individual month or quarter. Market is affected by different factor each time, from macroeconomics and investor sentiment to geopolitics. So I think the 4year cycle is more useful as a reference, while monthly or quarterly data is not that reliable.

However, even if we cannot know exactly where the bottom is, with Bitcoin already down around 50% from its ATH. I think this is a great time to start accumulating.

You're right that monthly market movements in the past may not work in the present but historical data can also be used in a case where the current market condition is following same direction. However, we've seen the direction of the market already and I don't think that macroeconomic and geopolitical factors can change that, at least not in this period that it is obvious that the market will continue in a downward movement.

Accumulation within this time when the market price is within half of its ATH will be a good decision for anyone who wish to have a good position of reaping the profits of their investment when the price breaks another new ATH.

[Dave1]

BTC has to cross 70K and stay above it for a week or two, and that will confirm bullish momentum in BTC. Below 70K, and we can still visit the lows like 58K or maybe even 56K too.

This series of events presents an ideal scenario for BTC to establish a sustained bullish trend; however, we have to wait. Some articles and news reports suggest that the price of BTC may fall, although I'm sure these could just be false alarms, generating panic so that weak hands sell BTC and large investors buy more BTC at a lower price.

For now, I can't say with any certainty what the sentiment might be in August, as the price has been fluctuating. Your suggestion that the price range is $62-$65k seems very accurate and suitable for continuing in the accumulation period, ideal for continuing with the DCA method and, if drops occur, making gradual BTC purchases.

Yeah, it's very volatile right now, last Sunday, it was below $63k and I thought that it might go even lower. But come first day of the week, suddenly the price goes up and almost touch $64k and it looks like the Asian market is pushing the price as the surge coincide when their market open.

So there could be something that we don't know that the Asian market might have idea that's why they push it. Or there could be some good news along the way during that time that investors take as a positive news.

Still a lot of time this month and possible that $70k might be crossed if the positive sentiments continue.