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What is the btc price for rig shut down at $INTV? I imagine it varies with the model...
longs will be able to buy cheaper is true. If btc does breakdown the next tradable bottom could come quickly. I have orders in place to buy miners mostly $mara under 3 and I would buy INTV at the right price as well. If you want to look at something truly scary for longs look at the bitcoin weekly chart. Bomb bay doors are open.
On a technical basis, Bitcoin right now under 29k is getting really close to breaking down. bigtime.. Virtually anybody can see the chart has been heading in that direction for a long time and one of these times 28k support will fail and if it does longs are going to need a parachute.
Getting close to end of qtr window dressing time. Institutions and funds will typically blow out big losers like bitcoin and 420 stocks. Could be some final capitulation moves for some of these stocks if we are lucky. Finally it's up periscope.
This is a really good place for INTV price to hold.
Bitcoin miners are selling not hodling.Better to sell at 30 than 15. I'm surprised they don't know it's going to a million any day now. They need to watch utube about how much all the massive adaption has accomplished.
https://www.bloomberg.com/news/articles/2022-06-05/bitcoin-miners-are-selling-tokens-as-prices-linger-near-lows#xj4y7vzkg
https://markets.businessinsider.com/news/stocks/bitcoin-miners-sold-6-3b-tokens-in-may-to-cover-costs-1031510445
What could possibly go wrong here?
https://www.newsbtc.com/news/bitcoin/brace-for-impact-bitcoin-miners-have-begun-dumping-their-holdings/
What does long term mean? We have had a couple of long terms already. Everybody had a shot at a classic top. Some took it some didn't. And how long has adaption been going on now? If it meant anything near what people are spoon fed by the paid shills to believe bitcoin would be 2 million already, Instead we got the hard truth of the bitcoin bear market with brutal round trips in some stocks and likely with still one or two more major downlegs left to go. Average bitcoin bear market is about 82% loss from the top to bottom
How and why did it get so undervalued? Why is gbtc trading at a huge 32 percent discount to btc? Why does everybody think institutional adaption means institutions going long? That notion is the most insane. The whales are worried about how much the public has lost interest because without the public for them to sell to it's game over and they know it. Retail is continuing to lose interest (Just look at the bitcoin stocks). because it's been a long time and getting longer since bitcoin made anybody millionaires.
Unlike the other miners the daily chart for intv is trying to flatten out somewhat while the weekly chart is genuinely miserable.
There is no limited supply. Futures contracts, rehypothication and options and soon etf's see to it that trading supply can be hundreds of millions of bitcoin. This is why its not a million dollars. This why it goes down. There is no intrinsic value, there is only consensus. Wall St has saved bitcoins life as a surrogate for some nasdaq tech stocks and its lucky to have that or it would not have any use at all. All the other silly discredited uses were simply salesmanship to a gullible public. That said its been good to me and a pretty good trading vehicle for now.
Pretty good article about bitcoin
https://www.theatlantic.com/ideas/archive/2022/05/how-cryptocurrencies-defied-gravity/629926/
Bitcoin mining difficulty keeps getting harder for miners as time goes on so you need the latest or best equipment in order to compete.
https://www.blockchain.com/charts/difficulty
If you look at the bitcoin listed volume and wick for yesterday it is possible that it was a bottom.
Does anybody know ho much it costs for intv to mine one bitcoin?
Bitcoin is way overdue for a short squeeze bounce.
They are desperately pumping bitcoin on cnbc this morning. Bullish guy after bullish guy. So you know somebody important wants out. Tether broke a buck and they are really worried. Stay tuned.
One positve, at least INTV doesn't have a thousand margin calls like mara and riot etc
Right now btc is extremely oversold and should see a solid bounce at any time.
For the last several months Btc has been in the bear phase of its 4 yr cycle....Average drop over last 4 bear markets is over 80 percent.
Pulling the offering could mean he might not sell shares at six or seven cents for now . Of course there is no sign he is buying any either and the ceo is in the best position to know when the stock might be a bargain if ever.
Tops and bottoms have always been hindsight items.
Looking at the other miners and btc, INTV chart may be just another bear flag.. Need DXY to top out. Could be soon but raising interest rates should be bullish for DXY.
INTV certainly has its own problems but aside from that it's not just INTV crashing. All the miners and other BTC stocks like MSTR and COIN are in the same bear market. Btc has been holding up so far but it seems likely that perhaps these stocks are predicting and discounting a big move for bitcoin.
How do you get a stock with some fundamentals down to 4 cents? The day that happened it looked like get me out at any price. Made every antenna go up. Stay tuned for the rest of the story.
Yeah, I suppose every group of stocks is hitting new yearly lows every day
IMO this is not normal. You have btc going about sideways while the whole group of miners are hitting yearly lows. Why? Btc miners are probably the worst acting group in the market. Don't know why yet but I believe there is a reason. Could be several countries coordinated govt action against btc miners coming up. Could be they are leading btc. Could be several other things and none of them looking good for the miners. INTV might not be the only miner doing a round trip.
I have a really hard time reconcilling any good financials to a four and a half cent stock. IMO most likely there is a reason behind the collapse.
This week it just moved up to number 26 on the INTV 10Q top 40. As of December 31,
2021, the Company had accumulated a deficit of $44,510,922. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.
Does it make any sense that the "increased revenue and earnings" are failing to make any positive difference in the stock price? Then could the problem be something else?
So why are btc miners in such a major bear market?
Here's one guys answer. Doesn't account for rhe Canadian companies though.
Interesting that there is no insider buying being reported. I guess 5 cents must still be too overvalued. Is anybody surprised?
Would like to hear insight or theories about why yesterday happened. Stock has acted really bad for a long time. Finding out why and who caused yesterday might be helpful.
Who owns all the shareholder equity?
Anybody think this is normal selling? I guess we will find out why sooner or later. It actually hit close to that Fibonacci target of .04 I posted but never thought would happen . Amazing.
Every indicator I watch for this stock is extremely oversold right now. What's that old saying....the market can stay wrong a lot longer than you can stay solvent.
I am not making any excuses for this stock. I think it used to be on the right track and then greed took over.. At this point its impossible to tell when its been punished enough and now it is starting to look like a candidate for a round trip.
It appears all the btc miners are underperforming btc by quite a bit. They usually lead btc.