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Yes there is a lot going on in the bitcoin miner universe. Wulf being one of the best candidates There are several. Exciting.
It hasn't traded much if at all this past week. The longer it doesn't trade the longer it'll take to get down to 37 cents. Ho hum.
I see a bid and ask so I presume it's not dead yet. Anybody know any different?
According to some folks the 4 year cycle for bitcoin has peaked around 74k which could be true if you believe in this type of cycle. Coincidently biti has diverged from bitcoin bullish action and is under accumulation.
Just want folks especially the oldtimers to remember what the truth is of things that happened here.
While you're at it look up the history of authorized shares and how it got that way. I don't know how far back this message board goes but if it goes far enough you will find all these answers.. You may find the reasons why this stock has been trading for a long time at less than one cent per share on a presplit basis.
IF (big IF) he can pull it off again then what makes you think there'll be only 5mm shares outstanding? Look at the history here. Look especially closely at what price new shares were sold at compared to what they were trading for at that time.
Well the stock is already down about 72% from the yearly high so a reverse split possibility might surface sooner rather than later. We'll see what is what when it's around a half a buck.
I think maybe the market has spoken about that. Be that as it may, at least going forward there'll be less reason to worry about an audit due to the halving which thankfully has lifted at least that issue from the tens of giddy from earnings stockholders who are finally forced to be grateful to the producer of those massive profits. Let's hear three cheers for the ceo. Maybe he could celebrate with another reverse split.
Is any of this stuff ever audited by an actual auditor?
Does it matter? Are any reports actually audited? By now Data is so old it's pointless. Going forward is what counts not old data. I don't see how small miners with older equipment can make it. Halving, competition, mining difficulty. I believe the stock action has been shouting the truth and it ain't roses, think lilies
I believe today is a new all time low for intv. I wonder if the longs who don't believe in stops are still not worried at all. Maybe they like to invest their money until its all gone or something like that and then blame someone else like the ceo.
Is it 37 cents yet?
Bitcoin bouncing off that extremely important support at the 100ema a few times. Every test weakens the support. If it eventually breaks its possible to be say hello to the lower 40's. I don't think there has ever been an easier vehicle to trade in both directions than bitcoin.
Bitcoin bulls starting to look out of gas. Lower highs and lower lows First support 61k and most important support 60.1k.
How did that craziness work out for you on intv? I stopped out around 76 cents and begged everybody else to pay attention. It was all on this board. Stops are for us poor people who understand they dont know everything. Those who think they do know everything almost always become poor. Those that think stops are useless are sitting like complete fools down 99.something percent. Stops have saved me 50 times more money than they cost me and over the last 40 some years have been my number one strategy. Next case.
Bitcoin needs to successfully test up around 60k area for new resistance in order to cement the returning bear market. That would be my stopout point.
If bitcoin closes below 59.5k today it will be the fist time in perhaps a couple of years that bitcoin violated the 10ema. Up til now the bulls have always held that line. Surprising
Pretty confident bitcoin will bounce from around here or at least not bust through it right away. Put my money where my mouth is of course with a tight stop. If there are two tests of 60k area that would even be better.
Bitcoin is weakening however there is really important support right around 60k for bitcoin. If it touches anywhere close I will go long something or other for a quick swing trade with a very tight stop. On the other hand if it then instead breaks down through 59k this would be extremely serious and I will reverse the trade with a full load of biti which is recently showing a little bit of strengthening, not a lot but increasing enough to keep on the radar screen.
It's difficult to call intv because of lack of volume. One big buyer could move the stock up one or two hundred percent within a short time or one big seller and we could see the 37 cents I am waiting for. Keep an eye on on-balance volume. When it gets this bad, IMO it is a dominant metric that may have to be discounted at some point.
I sincerely hope it works for you.
Spoken like a guy who is wanting to sell
Check out on balance volume (OBV) for intv. It reminds me of a ww2 German Stuka dive bomber. That chart is good enough to be used in a text book as a terrific example of distribution. Hard to believe its still holding over a buck.
Bitcoin is at resistance right here at about 66k and the next resistance is around 67,500 50dma on the daily chart. Too early to dismiss the idea that bitcoin is drawing a bear flag so I have to respect that for now. The next couple of days will tell a story about that IMO. This could be an important week for the weekly chart which is at support that is weakening. If it breaks down it could be a long ride.
I don't think the company has much debt to sink it. One problem is we don't know how productive the machines are after the halving. On another note it will be interesting to watch mining difficulty going forward as unproductive machines are sold to boat anchor companies while new ones come online.
Try googling bitcoin etf symbols
Bombs flying all over the mideast and ain't nobody running to bitcoin for safety. Gold is hitting new highs as always has been the case for 5000 years. I've said it a hundred times on this board....bitcoin is strictly a trading vehicle and nothing else. A. really good trading vehicle ... for now anyway. The trading vehicle is getting close to a major breakdown
Miner business isn't in consolidation, nobody will want to take over the least productive machines and there are recent massive new miners turning on the switch in other countries all of them with the latest equipment further squeezing the yield for everybody. Tough business if you depend on mining bitcoins. Miner stocks apparently are discounting this.
See post answering you on March 14th. I am assuming the company somehow survives another 18 months. I think this particular halving will have a profound affect on all of the miners but could actually benefit the bigger companies if enough small and medium sized miners get squeezed out.
The miners are so bad that I am looking for a capitulation event at some point. I will play this by putting in open orders to buy a couple market leaders about 40 percent below where I think the slaughter might start. Then sell the short covering bounce.
No surprise, Saw at least one well known btc miner hit a new low for the year today with several others including riot knocking on the low for the year door yelling let me in.
INTV trading at .0088 presplit price. Getting further away from one single penny. My target remains .003 on a presplit basis.
Exactly what action in this stock over the last year leads you to think that? Is there any other bitcoin miner that actually declined in price throughout the entire bitcoin rally? Do you think the reasons for that action have changed? If 5x bitcoin from 15k is not enough to help this stock then why would 10x bitcoin make a difference? IMO the halving may cause some machines to become obsolete. I don't know if that affects this company but I would like to find out.
The way I see it right now the setup for bitcoin is to the upside.
Bitcoin near an all time high, miner stocks although short term oversold have been in textbook distribution IMO. It paid to pay attention months ago on the miners. All time miner highs were way back in 2021. The stock market is a money game and nothing else. All the hype about anything has for the last 300 years been generated for the benefit of Wall St. This has always worked because human nature never changes.
Not buying this bitcoin trendline breakout today (yet). IMO INTV chart says rally done for now.
IMO gold and oil may keep rising until interest rates are higher and that will cause the dollar to skyrocket. Trouble is I have no idea, right now anyway, what that will do if anything to bitcoin. Interesting times
The way I see it right now, it's possible for INTV to go up a bit more to around the 1.50 area then look at it again.
The timing of the mstr news put out by the shorts and the clsk dilution news along with the solar eclipse on April 8th combined with the possible double top in bitcoin is starting to make me think there is a bad moon rising.