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That is the whole idea of a short squeeze. This a long overdue bear market rally. It is still a bitcoin bear market until proven otherwise.
What's gonna happen when they announce more toxic financing?
And yet bitcoin drops from 70k to 17k and all the cannon fodder sheep were wiped out. They won't be back. Wall St got rich on that drop. This is always the way, it has worked for the pro's forever. It wil happen again and then once more. It is so much easier to make money shorting than being long in any market. Who do you think got rich shorting INTV? As long as guys listen only to what they want to hear instead of the truth, guys like me will get richer and richer. Human nature does not change. Thank you human nature and thank you INTV longs. Once more, it's not about bitcoin, it's only about the money.
Nobody buys bitcoin for any reason other than to try to make money by selling it higher just as nobody buys INTV for any reason other than to sell it higher. All of it is done in fiat currency which is not going to go away. Bitcoin survives at the pleasure of Wall St and because it is so far, irrevelant to the govt. When the time comes the govt does not have to squash it completely they just need to make it uncomfortable to deal in it for traders. There is always a bull market somewhere else.
So you've got hundreds of examples of bitcoin adoption. Do you see how much good it has done? Adoption is only a flimsy ruse to pull in the suckers. The only thing that counts is if you are making money or not. INTV has been horrible. It's a two cent stock. That is reality. Bitcoin is strictly a money game. As always it's the smart ones taking money away from the stupid ones. This has been the case for 300 years.
I do not think the ceo is remiss in trying to find other types of financing. I think it's just not available. The most recent disaster (for shareholders) of INTV financing seems to substantiate that. I am looking for a repeat and it appears the stock might be fearing that as well.
I am stepping aside for now. Can always buy back in if the storm clears.
I agree newer, faster machines are needed. In the past new machines required toxic equity financing and that my friends tells you something about the future of the stock price. New miner machines might prolong INTV for a time but as the mining environment continues to become more competitive I still do not see this company surviving for long..
I read where one of these data centers shut down somebodt elses 37,000 bitcoin miners for non-payment of the electric bill. This is bullish for INTV as much as other companies adding miners to the network is bearish for INTV.
I am still making money in INTV on the long side....not many can say that. I may even buy another 200 shares. I really like the ceo. Remember this name....Huobi. I am betting on this outfit to come from behind and beat out Binance to win next weeks bitcoin scandal of the week sweepstakes. Is bitcoin finally running out of time? Tick tock...
Best definition of bitcoin....everybody cheats, everybody gets cheated...
A person would think that the whales artificially holding bitcoin up this long could generate at least a small rally. But there are simply no buyers other than them. IMO really bad situation for the guys with millions on the line.
Too bad we got that deal going on with gemini and genesis or whatever the crypto scandal of the day is, they are slowing bitcoin down. The new years oversold rally only lasts about a week or two usually. Gotta be quick.
I guess word got out.
The chart is not that bad....Oh, who am I kidding, it's horrible That chart could give aspirin a headache. Really glad I'm long.
I'm already making a fortune with INTV. Either that or I'm up about .002. The real bargain still is hut.
It's not too late for INTV to sell all the mining machines and take the money and buy a gold or silver mine in Arizona. They/He would still be in the mining business and thereby enter in to a still fairly new bull market.
The last time there was a bitcoin bear market was there anywhere near this level of systemic destruction? The bitcoin bubble has popped my friend.
Fiat currency around the world is backed by guns and taxes. The point of my text is that nobody cares about bitcoin except as a means to get rich. If they cared they would invest in an asset backed crypto. They don't because an asset backed crypto would be tethered to a real asset and therefore could not go to the moon. Bitcoin is a creature of too much money in the system which now has changed. If the fed floods the market again they know they can expect unlimited inflation. Last year store of value bitcoin stored fully 25% of hodlers value. Impressive.
If you look on the internet there are hundreds of articles on bitcoin. Virtually all of them are about bitcoin PRICE either going up or going down. This is because bitcoin is nothing but a greater fool trading vehicle. It has no other use, it does not produce anything, it does not have products, sales, earnings, plants or real estate. It is a pair of dice made out of air destined only to return to air at some point.
I don't think bitcoin has to rally much if at all in order for the miner stocks to bounce just a bit next week or so. They are screamingly oversold right now. On the other hand when I told my doctor that I bot a few shares of INTV he said it's a sure sign he needs to adjust my medication.
I think you may have a point but I do not intend to be there very long. I think the pressure will come off these stocks for a time. We will see what happens.
OMG, I bot a little INTV looking for a scalp trade. Guess I had too much egg nog.
Todays INTV action is most likely related to end of year sell your losers for tax reasons.
I think the market is discounting the popped bitcoin bubble. Many bitcoin businesses are drying up. Bitcoin will still be a good trade in both directions for a while even though there is ultra massive overhead resistance but eventually it ends up at zero IMO.
Bitcoin is not moving but the bitcoin stocks and especially the miners are telling a story about the future price activity of bitcoin IMO
In a BK, after creditors, the preferred stock holders get first dibs at the assets before common stock holders. So who owns the preferred stock?
Bitcoin is still the most concentrated and controlled asset there is.
https://time.com/6110392/bitcoin-ownership/
Famous last words: INTV still looking fairly well sold out at this time. Is there a worse stock anywhere than mara?
Bitcoin is way overdue for a bear market rally. Speaks to how many have abandoned btc. The rest are praying just to get even. Its an ongoing process of understanding bitcoin is no longer going to make them rich. Doesn't mean it won't be a good trade for the more astute folks for a while however.
Why do you suppose they are hitting the bitcoin miners so hard and for so long? INTV share of the daily bitcoin pie is shrinking every single day that new machines that do not belong to INTV are added to the grid. Now even btc miners in Russia are placing big orders for the newest asics machines and only the newest machines can effectively compete. Somebody please explain how INTV can possibly survive being completely squeezed out by this .
Money continues to leave bitcoin stocks as it dawns on people that bitcoin will probably never see 50k again. IMO The shorts will cap it somewhere between 30 and 40k on the upside and hold it at 5k on the downside as long as it lasts.
I did not mean sold out forever. Short term only. Everything is a trade and nothing is an investment. Every bitcoin miner is experiencing constantly lower yeild per machine as more machines enter the game every day. I do not see how INTV can survive long term but it is crypto and anything can happen.
Is INTV sold out? Showing some signs of being somewhat sold out. Worth watching how it acts at the next btc rally.
There are enough btc shorts for two short squeezes. We will see what happens.
How ironic would it be if INTV somehow survives a little longer in the bear market and mara and riot do not. I read where many of the btc miners are caught up to various extents with the ever growing realization of the crypto-scam.
I remember the good old days of four cents!!!
FTX , bad as it is, is still not as bad as Genesis. I read where several of the btc miners are caught up with FTX and Genesis. New miner machines still entering the grid every day. INTV might get squeezed out if they can't keep up. One possible explanation for 2 cents.....so far.
Bitcoin is losing the support of more greater fools every day and that is its death sentence. Every dollar somebody puts into bitcoin makes somebody else rich. That is how the greater fool pyramid works.
The reason bitcoin was always doomed is the same reason TA works, its because human nature never changes.