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This conversation doesn't seem to have a whole lot of meaning at this point. INTV is a one penny stock. This stuff really can't hurt it. Not one fool is going to be motivated to sell because of years ago crap. Everybody knows that if btc rallies enough INTV while being held back by dilution will go up from here and this piece of 'history' won't matter then either. The determining issue for now remains the direction of btc price.
Trump himself boasted that btc futures were inaugurated expressly to burst the btc bubble and prevent btc from being potential competition to govt control of money. Look at the gold market when gold futures started. Same result. Gold tanked. If btc is to survive they have to prove somehow useful to the economy like the advent of Visa and Mastercard which essentially multiply the amount of 'money' available to the economy allowing expanded consumer spending. Right now the biggest knock against btc is that it serves no useful purpose. After so many years it is still an answer looking for a problem. Blockchain is useful but btc is not blockchain.
Ten zillion unsophisticated guys still think they are going to be bitcoin millionaires. How do you think that's going to work out for them? They are still fighting the last war and not the current one. Things changed with the introduction of futures and options. AS SOON AS futures came out Wall St banks took control of price and tanked btc from 20k to 3k just to show the world (and the govt) that they can do it at will. Since then bitcoin, while it lasts has become a trading vehicle and a pretty good one as long as you view it correctly and play both ways. JMHO.
It turns out Elliott Wave Theory is pretty bearish on btc. For now. I have been doing TA for more than 40 years and never have made sense out of Elliott Wave. Doesn't mean it's not real though.
I want to say it has bottomed but if there's more dilution......
Interested to find out how many machines they will lose due to the halving. If btc price doesn't rise dramatically this could be a disaster of Pearl Harbor proportions for mining companies. Might benefit the Chinese though.
Hang tough Casper. If they would only stop with the dilution you still have a shot. In the meantime, how much can they hurt a one cent stock who hasn't closed up shop? Almost all of the btc miners charts look the same. At some point btc probably will both dump big and then rally big next year so you should get at least one favorable exit point.
The big question remains where are new btc buyers going to come from? Tough question what with all the crypto scams in the news every day and the btc extreme volatility and the blatant options and futures manipulation and 99 percent of cryptos failing and so forth... It seems you would have to be insane to put serious money here but what we have not seen yet is a Wall St replacement for btc genre designed as ever to fleece the retail market. So until I see a new 420 or similar scam start I still look for probably two more big btc dumps and rallies before they finally bury this thing as a trading vehicle. Time will tell.
And that news would have to be that they invented a machine that ate globalists and spit out bitcoins.
IMO Btc appears to be setting up to squeeze the retail longs.
Maybe you had the right idea. Maybe youtube agrees with you. Who knows what's actually going down? I haven't seen anything like that happening on twitter yet. Still IMO at some point the govt will put cryptos out of business and launch fedcoin to replace them. This has already progressed a long way in China.
ALL of the crypto vids I have watched on youtube in the last day and a half are GONE! All of them. I wonder if twitter will be next. Perhaps they waited until the holidays to pull this stuff hoping people are distracted. As of now there is no reaction out of btc yet however there appears to be torpedoes in the water. This is so cool.
Many crypto related channels being censored on youtube all of a sudden. Something is up. This is so much fun.
BTC appears to be setting up for a really big move. Can't tell yet which direction.
4.2 million shares here, 4.2 million shares there, pretty soon you have real dilution and your stock goes down to a penny.
I don't go back that far however over the last 40 years I've been involved with the market including 20 years with four different major Wall St firms it's been my experience that most folks are rightly afraid to wait until the last week and certainly no professional would wait that long to sell losers as there won't be many guys present and very few bids.
98 percent of year end selling should be completed by the close today. That is at least one big negative out of the way for this stock.
It seems to me that a year ago there was an average of one crypto scandal about every two weeks or so. Nowadays it seems like there are two scandals every week.
it's fun and interesting to watch but not a good place for a lot of my money.
Possible reversal candle forming on the weekly chart. The dilution has got to stop though.
Btc big problem for some time now has been continually declining number of new buyers required to produce an actual sustained rally. IMO the price is too unpredictable because it's too easy to manipulate. Wall St has already proven that they can take the price from 20k to 3k at will. This scares away a lot of potential players. If they somehow decide that btc should be 100 bucks then that will happen because there is no intrinsic value to btc to hold it up. Look at 99 percent of the altcoins as an example of what can happen to digital assets. Therefore it's impossible to figure out where the bottom might be.
I wonder if the bid will disappear at least for a time.
It appears to me that intv is right in line with the sector. If you overlay the charts you will see it more clearly. In fact I have one important metric that shows money flowing into intv. However every other indicator that I look at is negative.
I guess they are blaming this on the Chinese who reportedly want to control ALL the mining and are supposed to be willing to go as low as 2500 to 3500 btc. long enough to snuff out the competition. Time will tell.
As btc price declines many miner machines across the world (here?) will no doubt become a losing proposition and be turned off. This is when the traders will come to realize that reduced supply of new btc does not effect price nearly as much as once thought. Learning curve about dealing with Wall St.
Expected end of year selling. Same thing happens to many stocks. I suspect sometime in the next 6 months btc will rally. How much? Enough. Remember the old saying. bulls and bears make money. Pigs get slaughtered. I'm looking for 8 or 9 cents for this stock and I'll have my sell order in very early.
Most miners have retained btc in order to keep the door open in hard times. Hopefully this is the case here. I see more of the usual internet talking dummies finally becoming aware of 4500.
You know, I'm starting to get a little suspicious that you don't like this stock.
Profitable but probably not enough. Going forward miners burdened by debt will have a hard time staying in business.
chart becoming a little more interesting. Tweezer reversal possible.
A fool and his money are soon par..
Hey! Where's my wallet??
I am gambling that this company has a reasonable shot to keep the doors open and that sometime in the next few years btc will spike back up to between 18 and 21k. I don't think Wall St is willing to completely tank btc (price) yet. However looking at what they did to the pot stocks over this year and countless other groups in countless previous years makes me keep in mind that the possibility is something that comes with the territory and btc longs will have to live with.
That's why I have my gtc sell orders in now. Same with buy orders under a penny.
Next leg down targets go to 4500 area.
As long as there are way too many internet crazies calling for btc to 50 grand and even crazier this could actually happen.
https://www.newsbtc.com/2019/11/29/accurate-trader-calls-for-1k-bitcoin-and-destruction-of-crypto-industry/
Btc has been going down since July. Nothing has changed yet. In the longer run I expect more violent rallies to suck in more retail cannon fodder money followed by massive persistent dumps just like this last one in order to take their money away from them yet again. This has always been the M.O. on Wall St. However, if this company can somehow manage to keep the doors open long enough I believe the stock could have at least a triple at some point.
IMO if btc can get up through 7300 area it should rally to about 8k and then roll over and start the next downleg from there.
The govt knows that while they can't stop bitcoin they can control it if necessary. IMO If btc becomes a threat it can be shorted down to a hundred bucks and kept there until every long withers up and blows away if that is what it takes. Btc is in the hands of Wall St futures traders who will alternately rally it and slam it until they have taken as much of retail's money as possible. Been there and seen and done that on both sides.
This stock lost 99.9 percent of its value. That hardly correlates to the price action of btc. If you are trying to buy the stock under a penny you will likely have a good shot during soon to be tax selling season.
Btc is getting the typical Wall St lesson in the power of options and futures. They have done this for years in the gold market but the difference is they can't run the price of gold down to $100 and keep it there as long as they want.
If Bitcoin breaks current level it might take a dip to around 6k. If you are in this stock at around the current price and assuming they can keep the doors open I believe you will make money but it will take some time. You may have a triple or even a little more at some point. If that takes three years that would be 100 percent annually. Not too bad.