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The reason bitcoin was always doomed is the same reason TA works, its because human nature never changes.
Bitcoin set up for a short squeeze right now. If it happens it might be one of the last trains out for a while. Nobody knows how bad it's going to get from here.
They are throwing all alts under the bus and trying to convince people that bitcoin is somehow different than the others
Judging by what I see on TV, big money is increasingly desperate to get out of bitcoin.
According to Bank America the current bitcoin bear market is the 5th largest (so far) wipeout in the history of financial asset classes going back hundreds of years. I suppose you could say the same about bitcoin miner stocks like INTV. So, does 'change produce opportunity'? It certainly has done so for both the longs and more recently the shorts in crypto. Too bad these things don't come around more often.
I am watching the INTV chart for a possible double bottom. Btc 19 to 20k is now resistance. I think it should get there. Still a bear market though , I still would like to see 12 or 13k btc. IMO the Fed who has a big influence on btc has no choice except to flip and return to inflation producing activity. If they instead keep raising rates, the short maturity of the vast majority of the current treasury debt causing quick rollover will cause 16 to 30x increase in interest payments (rates already up 16x) which will be ultra inflationary in itself. They are trapped either way.
Bitcoin has hit a legit target and at least a potential resting point for now which is needed so that INTV can regroup technically if possible and perhaps somehow survive a bit longer.
The bad news for INTV is btc has probably started the next downleg. The good news is if btc can clear out to around 12k, that should be the last downleg and we can start talking about a btc bull market eventually reaching all the way up to upper 30.s or possibly even 40k.
For INTV guys who are interested in the state of the sport....gbtc has now given back 100 percent of gains since 2020. Since gbtc tends to front run btc this is probably a really bad sign but at least INTV is no longer the only one leading the give-all-the-money-back division of the crypto mining league. I think INTV may still make the playoffs though because they have a really good quarterback for this sort of thing.
You would think the INTV share price and why it's where it is would be at least a little bit important on this board but for some guys not being wrong is more important than their money. That's how it's always been.
I don't get how INTV is profitable. According to yahoo finance INTV earnings are a loss of .028 and INTV p.e. ratio is negative. How is this profitable? If INTV was profitable or ever had any chance of being profitable would it be 3 cents or would it be minimum 50 cents??? How many 3 cent stocks are profitable?
The more that guys try to draw INTV as being fundamentally bullish , the harder it becomes to explain 3 cents. Doesn't add up one little bit but maybe we can discover some of the reasons.
As the bitcoin mining difficulty continues ti skyrocket due to evermore machines constantly coming on line the share of the time weighted pie gets smaller and smaller. Eventually all small operations will naturally get squeezed completely out. Not a viable business plan unless the business can grow to compete with the ever growing bigger piece of the pie operations like mara. In INTV case growth has required financing and financing has meant equity dilution. This is completely self-defeating for the common shareholder This spinning of the wheels is just only one issue for INTV at 3 cents. Next, should we talk about the excesses of the ceo rewarding himself? IMO this is what has driven the most folks away. I am more than willing to listen to rebuttal.
Is there any hard evidence that INTV is 'profitable' at 12k btc? Is it actually profitable or is that a shameful misuse of the word? Don't lose track of the fact that INTV is a 3 cent stock for probably really good reasons and of course one big reason for that is the fact that apparently almost everybody in the world considers INTV to be poison. This stock gave up 100 percent of all gains in spite of supossedly adding a lot of highly touted fundamental assets. So if fundamentals have already improved so much, how does 3 cents make any sense whatsoever? If all the reports are true shoudn't the stock be trading around maybe a half a buck right now?.... Now, can the rest of the world perception of INTV change? Maybe but the market judgement obviously isn't expecting that anytime soon. I anticipate the bots will carry it for a while but eventually it will become too good of a short to pass up.
Big Opportunity for INTV ....
https://www.wsj.com/articles/bitcoin-mining-machines-for-sale-on-deep-discount-11667650411
INTV stock is holding that .29 support like I hoped it would. Not bad. Trouble is the election is over this week and there will be no longer any reason for the powers that be to hold things together for the benefit of politics like they have been doing.
INTV working off the overbot and acting pretty good and moving according to the script for now..Bitcoin has mixed signals on the daily chart and has an inexplicable sideways trend going. I don't think this is what they had in mind when they said it's crypto...anything can happen.
INTV has bumped up into resistance and is also overbot. How the stock handles the overbot will tell a story worth listening to IMO. So far so good. The market rally is starting to get a little bit extended so bitcoin needs to get moving if it is going to hit the 22k area before the bear market resumes. In the mean time Core scientific, another bitcoin stock bites the dust. . Oh well. a big reward requires a big risk.
I took my life savings out of the bank yesterday and the lady behind the counter asked how I wanted that, heads or tails.
There is substantial moving average resistance at .039. Because it is important resistance, if INTV can get above it and successfully test it , that would bring INTV up on some radars. Don't lose track of the fact that things are still in a bear market until proven otherwise.
I would like to see INTV hold above .029 on the daily chart for now. That is the midpoint of the channel I am looking at. There is some improvement to the weekly chart. INTV volume is missing so far and that is a big issue. DXY is making a lower low after making a lower high. If this holds for a while it could be huge for bitcoin and precious metals IMO.
All the other miners are in big trouble but INTV who has given back 100% of the last two years gains is in perfect shape. Isn't that right guys? Let the good times roll.
Might be Interesting to INTV longs.
https://www.coindesk.com/business/2022/10/24/struggling-bitcoin-miners-are-flocking-to-maple-finances-300m-lending-pool/
So far bitcoin has not participated in the current bear market rally. I still think it should be able to hit about 22k and if it can do that convincingly it can then start to look at 25k. The real challenge is to determine the instant when enough people think the Fed is about to change direction. If INTV survives long enough (fingers crossed) it could possibly double from here assuming it can still get caught up by the A I Bots. Time will tell on that one.
INTV seems to have made progress with mining rigs and other things however the stock is suspiciously all the way down to 2 cents anyway. Back to where it was way before any of the 'progress'. Cheaper than many stocks still in the no fundamentals stage. Why is there no value to the market here? To me this could be a big red flag.
https://protos.com/place-your-bets-how-many-bitcoin-miners-will-survive-winter/
Re INTV....if the overall market is undergoing a temporary rally, I think btc should be able to get up to about 22k judging by the tech stocks. If that happens, it's possible for INTV to see between 5 and 6 cents assuming it can survive the next couple of weeks. That would be a double my money from here. This stock can be a gold mine for astute traders
News that should affect INTV. but won't..Crypto Adoption Continues: Mastercard To Debut Product To Help Buy Digital Assets Through Bank Accounts. This is more bearish btc news as more adaption fails to help btc price once again. The crypto fad continues to lose steam exactly as history predicts would eventually happen..
IMO by far the biggest issue of this stock is that INTV is a completely different operation since the last time it was two cents all the way back in 2020 and has lost 100% of the stock price achieved for two years of fundamental growth. This is not normal bear market action in my experience. While the warrants are certainly one issue I suspect there might be more serious problems than warrants driving this result.
Some mysteries explained.
It should now start to make sense out of only one possible reason why the buyer of the recent offering is in such a hurry sell and not wait for higher prices. He's experienced.
INTV had the excuse of essentially moving along with the other miners until last month when that changed. Should have raised alarm bells. I tried. The folks who blame the action on the 30mm offering but stuck with the stock are now faced with the unpleasant possibility that If mgt is so willing to sell at such a low yield to the company then it might not be unreasonable to expect another 30mm offering coming along at some point and so on after that. Kinda makes you want to learn the wonderful (sometimes) benefits of short selling.
How come INTV shills get no complaints when the stock is going up? The same guys are here now as were here then when the stock was going up. Of course back then if I understand this correctly, he must have been creating winners instead of bagholders. I had not realized shills have such immense power over others. Must come in handy on a date.
The main eye popping, absolute warning deal here is no bid for INTV. Why are those 2100 shareholders not stepping up? Is it remotely possible that someone accidently over-counted by 2079 and the 21 who are actually real are broke?
Everybody is responsible for their own INTV investment decisions, not the shills not the ceo. I understand for many years now that I don't know everything so I always use a stop. In a choice between absolutely having to be right and being a good shepherd of my money, I chose the money. Lots of guys would much rather be validated and sacrifice their money as a distant second place. I get it, now they need to put on their big boy pants.
You can't fool the stock market for very long, thus 2.5 cents. INTV stock diverged negatively away from the other miners starting last month. Most likely an important warning going forward.
I blame selling both long and short for the drop. The overwhelming perception must be that INTV is not even worth 4 cents anymore. Nobody sees value right here. Aparently even the ceo won't invest his own money at these still too high prices of .023 and below.
INTV has now broken down technically from the important 3 area.
Thanks for all the work you put in.
If someome melds all of the collective knowledge and wisdom of all the INTV longs and shorts together...they get 2.5 cents.... so far, with no sign of a bottom yet in total spite of percieved fundamental improvements which if true, make the performance of the stock even worse. This is down from 43 cents a year ago. There is very likely a good reason for this. It seems reasonable that the actual reason for a 93 percent drop should not be dismissed as a topic of consideration. What do you suppose the truth about INTV that is the cause of this drop is??
INTV is a 2 penny stock. How many 2 cent stocks do you think are real solid investments? Especially one that fell about 93 percent in the last year. Is it possible that some guys are missing something or simply avoiding talking about the blatent elephant in the room or is the combined wisdom of the stock market developed over 300 years all of a sudden totally wrong?
Bitcoin is right on the edge of starting another new downleg. We'll see what results this time.