33333

[stompix]

So I just woke up, savoring the smell of coffee, starting a new workday, birds waking up and singing in the garden, and with such a pleasant atmosphere around I had nothing better to do than to look at the price



To be honest, if it were 33017 or 32862 I wouldn't have cared a bit but this 33333 just pissed me to the max, don't know the reason why, probably because I felt it was totally manipulated and some exchanges are simply playing with the price right now! Since I don't believe in any TA or other random line bs, so let's keep those things out of the equation, why are we here, genuinely asking, why are we at this price?

I'm not concerned long term, I don't plan on checking if Subway or KFC have any job openings, but I'm still wondering not only why are we dropping but what's more intriguing for me, if all the good news we had lately wouldn't have happened, the situation would have been far worse, right? I guess.
We had some minor news about Madeira, legal tender in CAR, acceptance in Panama, some altcoin founders or owners or whatever those guys at Terra are buying tons of bitcoins, other investors also buying, Fidelity 401k,  every politician trying to approval or legalize bitcoin, the planting ATM in the Mexican government building, and many more headlines, with little or bigger actual impact, yet we're going down, (although since I'm so bad at predicting stuff by the time I hit post the price might skyrocket back to over 40k).

So the question is, if all the good news stop, and we go full bearish, where do we stop and what do you think will trigger the change in trends?
I simply can't picture the news that will change this, and my bet is that suddenly with no reason we're going to climb back!

Btw,
22222 anyone? 

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[mk4]

Honestly, don't over think it. You just check the price at the right moment and the right time, hence you landed upon the 33333 number. If I remember correctly, at the price top I also saw screenshots of 66666.

So the question is, if all the good news stop, and we go full bearish, where do we stop and what do you think will trigger the change in trends?

Probably controversial opinion: bitcoin likely stops dropping once the S&P500 stops dropping. Like it or not, BTC and the S&P is still highly correlated.

[romero121]

If all the good news haven't happened we might've experienced gradual growth in the price with price corrections taking place at intervals.

Possibly the price we'll be sitting around seems to be the same, because last year during the month of july the price started to grow in a gradual manner from $29k. Further the good news and the unexpected increase in the usage took it to mark a new ATH. If that hasn't happened we could've experienced the price to grow slowly reaching around $36k by now and the corrective measures could've let the market down to the current price. On the whole the current price fits to all possible connections.

[Poker Player]

I'm not saying that there can't be some manipulation in Bitcoin, but if there is in such a decentralized system, there is nothing in the financial markets that is not manipulated.

Honestly, don't over think it. You just check the price at the right moment and the right time, hence you landed upon the 33333 number. If I remember correctly, at the price top I also saw screenshots of 66666.

I too think that the 33333 number is a just a coincidence. It catches your attention because they are 5 numbers the same but they are only 5 numbers the same as 34519. The 33333 in binary is 1000001000110101, and in quinary system it is 23202330. The repetition of the number in hexadecimal system is somewhat arbitrary.

So the question is, if all the good news stop, and we go full bearish, where do we stop and what do you think will trigger the change in trends?

Probably controversial opinion: bitcoin likely stops dropping once the S&P500 stops dropping. Like it or not, BTC and the S&P is still highly correlated.

This is only true in the short term; in the long term there has not always been a correlation, far from it.

I regarding the price, when we entered this year 2022 I already said I was pessimistic. I don't see Bitcoin beating last year's ATH this cycle, no matter how much good news we have like stompix mentions. And I also think the returns going forward are going to be more modest. Forget 20x between cycles or higher returns. That said, bitcoin is worth buying for what it is.

If we had bad news and FUD, I don't know. If we had a repeat of previous cycles we should not go below $20k, or maybe just slightly, as happened with COVID, but there is no guarantee. If for FUD we were to go below $18k or so there would be panic, a lot of panic.

[stompix]

I too think that the 33333 number is a just a coincidence. It catches your attention because they are 5 numbers the same but they are only 5 numbers the same as 34519. The 33333 in binary is 1000001000110101, and in quinary system it is 23202330. The repetition of the number in hexadecimal system is somewhat arbitrary.

We have psychological barriers, it happens with everything, back in my early days people were talking about how in a market dominated by Chinese fake volumes like Huobi and OKCoin every damn number was meaning something, and you can see it with every national currency that is more volatile, it takes a lot of time for them to brake a 1:10 barrier but they spend no time after that rushing to 1:20. I was just talking with somebody from Romania and the euro is at 4.9x for them for months, somehow not willing to make the final step.

Without even looking at the depth on Binance, I'm damn sure there are more market buy orders on 22222 than on any number that is not rounded up to thousands.

This is only true in the short term; in the long term there has not always been a correlation, far from it.

Bitcoin was first decoupled from the stock market because it had the enormous potential of growing x10 x20 overnight, unlike normal stocks,  but that is no longer possible, it's not just the above picture it's happening every single time. It happened when covid first struck, it happened in December, it happened when the war started, and it happened now.
My only regret is that's not the other way around or I would be able to short some stocks before the markets open.
Looking from one side, it's nice it has become something that is clearly overlapping with the global economy.

Honestly, don't over think it. You just check the price at the right moment and the right time, hence you landed upon the 33333 number.

Oh no, it was nothing like that, I didn't catch the moment,  33333 was just the lowest that day, I looked at it about an hour or so later, just how now it seems like 33200 is the new low hit. I'm not overthinking it in a bad way, I'm not bothered about it or fear something, it's just like a damn mosquito that is really annoying and you're too tired to get a slipper and end his misery.

[crwth]

If there were a full bearish mode for everything, do you think everyone would stick around? I think it will still be the same that weak hands will be shaken once they have reached a specific price, so maybe at this point, it could be your 22222 predictions or something, but at that time, there would still be another speculation that it could go even lower like 11111, it's all speculation. 

We all want everything to come back to 44444 or 55555, or even 66666; it could all be a coincidence. One thing is for sure: there would be something of a catalyst that could make the people's behavior into buying more of it, etc.

[mk4]

This is only true in the short term; in the long term there has not always been a correlation, far from it.

*snip*

I'd say short-mid term. Probably (and hopefully) de-correlated in like 5+ years. In summary, there probably would be a correlation until the time that the masses finally realize that bitcoin isn't some sort of tech stock(as most people probably think because of the wider cryptocurrency industry); but instead something totally different.