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Well, that answers that So be it.
Earlier this year I traded INTV and made money to prove a point. I posted it all at the time. This stock has been a terrific money maker if I play it smart. Nobody buys at the bottom and sells at the top. Bitcoin tells me what to do. INTV, because it is so cheap many times moves in big percentage chunks and I am thrilled to make 40% on my money in a few days. I don't believe in waiting for a phantom 1000% move that may never happen. If I was bagged in this stock, this is one way I would try to get some of my money back. Now, I remember to designate last in first out at my broker. Furthermore I could have made a ton of money shorting INTV at the appropriate bitcoin time but I didn't and will never short INTV because it is my hobby stock.. Doesn't mean other guys can't do it.
I do not blame the ceo. There are a lot of things about bitcoin out of the ceo's control. Reverse split talk is under his control however he may still see that as the best or perhaps only path going forward when the time is right. He is not stupid so it's impossible for us to judge this at this time I find it amazing that 2 cent or 3 cent INTV can rally along with the other miners when bitcoin rallys and that is on him IMO. If this stock or the ceo was a scam it could never perform like that.
When the current bitcoin rally started INTV was about .017 and now it is about .034. That is a double my friends. Everybody has a shot to take the 100 percent right now so nobody should have any complaints later on in case the bitcoin rally is finished.
How does the continuing rapid increase in the number of mining rigs worldwide affect INTV going forward? It seems that the pie remains the same at 900 btc per day but the slices of the pie are getting smaller and smaller and smaller. Good luck with that....
IMO when these places talk about supporting crypto what they are mainly talking about is supporting various fedcoin
Not sure about btc going through 30.5k area convincingly right now. The move up lacks volume. Sold all btc stocks today and if things look better next week I can buy them back. If they dont I am considering biti.
Bollinger band squeeze comes through once again. This time to the upside.
One way to look at this is a move from .02 to .03 is a 50% move.
I agree the stock has to overcome the rs talk. However it is not acting badly right now.
Chat GPC issued its investment allocation and it included no bitcoin. While that is hardly surprising one way to look at it is that leaves a lot of room for change at some point.....or not.
I guess we still have to wait for bitcoin to break one way or the other. Every indicator I watch on the daily chart is in neutral with a bolinger band squeeze forming which predicts a move but not direction. Some people see a rounding top on btc which if true would suggest a little downside.
Question.... if this stock rs's and the new price is 2 dollars.... do you think mining 5 bitcoin a week is enough to support a 2 dollar stock price?
INTV daily chart pattern last few days looks a lot like the pattern just before the reverse split talk.
IMO INTV is acting better than expected in both price and volume. If it can get past the 200dma convincingly that should raise it up on some radars. The macro has changed for bitcoin.
INTV was stopped cold by the 200dma 7 times during the Feb rally before the rs talk so breaking above it and closing above it several times is a real big deal IMO.
Bitcoin looking real. IMO the resistance in the 30k area is not as strong as was the 25k area but is still a pretty tough item. INTV hit resistance at the declining 200dma today. So did mara. This is an opportunity for those stocks to impress everybody. We'll see..... INTV hasnt closed above the 200dma for more than a year if I read it correctly
'contagion and fear is a big thing' and so is clickbait.
I dont think banks are in any way cooked. What the current narrative doesnt include is that every banks govt bond portfolio is traditionally hedged.This is a basic practice at all banks. Even a couple of the three banks who got smashed by the govt for the sin of being crypto friendly most likely had hedged portfolios. .So while the bonds are down in price the hedge is up in price making up for it. This is not the first time bonds have had bear markets and banks have survived this many times however it has not been a doomsday event until now sucspiciously called for by the guys who control the narrative today. If they can keep the lie alive and convince the public it should help bitcoin which may even be their intention.
Check it out, guy makes an actual one million dollar bet with somebody that bitcoin price will hit one million dollars by June 17 of this year.....this is testament as good (bad) as it gets to the cerebral enhancements too many beers can many times bestow upon a typically moronic bitcoin maximalist
https://cointelegraph.com/news/former-coinbase-cto-makes-2m-bet-on-bitcoin-s-performance
The move up this morning is technically huge for bitcoin. Looking for a test of the recent resistance now hopefully turned support and then it should be on the way to 30k area resistance and if it can clear that hurdle it could be off to the races IMO.
More than a million shares traded today,
Is there a message from INTV stock today? IE is no comment on twitter a message in itself?
Looks like risk on is back even though the Fed is still going to tighten. My guess is they figure the Fed wont do anything to hurt them..Bitcoin is the riskiest (best) trade both ways in risk on IMO. If it can clear 30 k area convincingly things flip toward bullish.
Market futures are up right now... you reckon they didnt hear about all the bank runs yet? LOL.
Anyhow just in case, I went and withdrew my life savings from the bank and the lady behind the counter said 'how would you like that.....heads or tails?'
When bitcoin finishes this downleg I expect it to rally back up to the shs breakdown area and then sell off to about 17k or so.
Explain to me why the sanctions the world govts tried put on the Russian economy didnt work from day one and backfired? I'll give you a hint... banks dont always care what govts want And they collude ...worldwide even the Russian banks and even the North Korean Central Bank sometimes. What do you think Wall St is anyway? And where do France and England fit in exactly? Figure it out.
India is on the way out of brics. Probably Brazil leaving too. A gold backed yaun will be as useful as a gold backed bitcoin. Laughable to think anybody wouldl ever trust the commies.... How long does it take to dismantle and replace the dollar world infrastructure? Most estimates are 80 to 100 years if they really work hard at it. No bank outside of this country is willing to give up the money they earn with making U S dollar loans out of essentially nothing . For what? Replace the old problems a new set of problems they dont even know about yet ? Dont be a fool, You Dance with the devil you know as long as you are getting rich, What you guys forget is that the banking rules in other countries are not the same as here. No way they will give that business up.Sorry guys, banks who call the many of the shots in much of the world like the current system
Reserve currency replaced by what? There is nothing now nor in the next 80 years nor is there any combination of anything that can do that . For just one thing, you need to check out what the world eurodollar market is all about and you will think twice when you see the size of it..No matter what the Fed does there is always a huge SHORTAGE of U S dollars worldwide. For another thing, when the interest on the U S debt gets big enough all the bonds the Fed owns will be swapped for zero coupon bonds (problem solved) and the whole system will just keep on growing and that includes growth of deficit spending. One more thing you need to know, governments can only control so much of what happens in the world because banks control the rest and its way more than you think. Almost all banks everywhere make money using U S dollars and they like it that way...period.. I think some guys might read read too much clickbait. End of the world garbage stories have always sold newspapers havent they?
Bitcoin is at the last support of about 19.7k. if it breaks this support it might be sayonara down to 16k to 17k. Now this is more like how the ongoing bitcoin bear market should look. Tomorrow all the click bait boys will be saying 'who could have possibly seen this coming' LOL. I love bitcoin.
Looks like bitcoin head and shoulders breakdown is underway.
The bitcoin daily chart is starting to look like a shs top. There are several bearish TA divergences that will have to be dealt with at some point while right now momentum is oversold. IMO this entire rally has been contrived by people desperate to get out and this is born out by volume which is now running out of gas. Crazy they have kept it going this long. Of course its bitcoin so anything can happen including nothing for relatively long periods of time. Nobody would ever have guessed that. A year from now is the next halving and I expect discounting that event in the miner stocks might start fairly soon.
The truth slowly surfaces and the delusional lies are gone. The bitcoin narrative on the internet has by now almost completely switched over to the real life items that control bitcoin price such as charts and interest rates and whale trading etc etc finally admitting defacto what bitcoin really is and therefore implying the truth of what it absolutely is not and the only possible use for it. Its a trading vehicle period. Always has been and will never be anything more until the day something replaces it and it finally hits zero.
INTV is somehow holding up fairly well in the face of the reverse split talk. One of my favorite stocks is hut which is selling below its cash and bitcoin holdings if
I figured it correctly but it also has declared a 1 for 5 rs so I cannot hold any even if I wanted to. On a 'there is always a bull market somewhere' note I caught boil within a half point of the bottom by pure luck.
It seems reasonable to think that perhaps nobody has said its off the table because its not off the table. IMO a person most likely would not bring this notion up in the first place if he was going to change his mind. Too much damage once the cat is out of the bag. Therefore it might be a fruitful idea to brace for impact.
Several days have gone by and I am looking for some hint of moderation from mgt in the rs situation. So far the stock is saying its still on the table. Hate to see it for you guys.
I think the ceo is a pretty smart guy. IMO He knew what that comment about a rs would do to the share price. I am grateful for the warning of a reverse split but even if it does not come to pass bitcoin is already on a countdown to the next halvng which should be only about a year away in March next year. Add in the expected growth in difficulty and projected additional hundreds of thousands of new machines coming on line worldwide and its not to difficult to imagine what happens to junior miners potential lifespan after that. So now I have a question for all you guys on this board who are smarter than me... does a dramatically reduced share count make the company easier to sell? If not then what would make it easier to sell?
The even better news is while the hash rate has been growing at a 50 percent rate over the last year , it promises to grow even faster as giant mining farms are quickly coming on line all over the world especially in Russia and Africa. This should force existing miners to try to keep up by adding hundreds of thousands of the new AI enhansed machines so they can postpone getting squeezed out. This means the bitcoin network has never been so safe from attack.
Good news for the safety of the bitcoin network
https://news.bitcoin.com/bitcoin-network-difficulty-expected-to-see-largest-increase-of-the-year-amid-high-hashrate-shorter-block-times/
I do short term only. Things change. Things go in and then out of fashion and then back in again. There is no excuse whatsoever for riding anything down to 2 cents You only get one pump up to 80 cents. That is one in a lifetime.