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55% of the entire Outstanding Shares Traded today. 300% gain in price. 55% of the entire supply of shares traded. Outstanding.
More than 50% of the Outstanding Shares Traded today. Result a 300+% gain. Yesterday had 27% of the shares trade with a 100% gain. Gap up tomorrow...I can see that. But it shows, once over 1 million shares traded, prices move significantly.
To get 1 million shares trading for a crypto stock, all you have to do is sneeze and its done.
30% of ALL of the O/S traded so far today. 2.5 Million out or 8.2 million.
We were talking $5 end of the week. Now its before the day is out.
20% of the shares traded so far. 27% traded yesterday. And that is 20% of ALL of the shares that exist (8.2 million O/S) . This couldn't be better textbook. Congrats to those that are in.
Comparing those financials to RIOT, MGTI and the others, they all LOSE money... in the millions or tens of millions each quarter.
INTV is profitable out of the box.....
INTV posted its unaudited results on Twitter: Financials on Twitter
$74,400 Net Profit.
That is $0.01 / share profit.
Check this discrepancy: 330,000 shares of volume missing at OTC markets. Just saw this about 3 minutes ago. OTCMarkets reported the 880,000 shares traded, then dropped it by 330,000 shares for the day....
Leo, I agree. The fundamentals are completely in place for a stellar hike in price next week. Its highly undervalued. I aggressively added to my position at the end of the day. Of all the Crypto / Bitcoin / Blockchain stocks in the market, this has the most potential for the largest price increase and the most upside.
That's why I keep pointing to the share trading volume. A mere 800,000 shares represents 10% of all of the shares that exist. We did 2.2 million shares today, being over 25% of all the stock that exists. And it showed the market that 2.2 million shares raises the stock price by ~130%.
Active traders look for volume and movement.
Good traders look for volume and movement and fundamentals.
Really good traders look for all that and potential profitability. They also like to see that the market they represent is hot.
Exiting at the end of the day should be a mistake. The fundamentals line this up for a stellar run.
I saw another Crypto stock in March/April/May that went from $0.20 to $3.00. INTV has a similar base. Its ready to rock and roll. Over 20% of the entire outstanding shares traded today. That pushes a stock and creates interest among investors. All this stock needs for Monday and Tuesday is 15+% of the shares trading, and its a freight train.
If the day comes when 40% of the shares trade, it will be mana from heaven.
VortMax, your calculations on the amount of Bitcoin they produce would be correct. ( See Bitcoin MIning Profitability Calculator for the output of one S9 mining unit )
However, the difficulty increases with the more mining units in the system and also the halving occurs in 2020. Granted, when it halves the price for bitcoin should double, which has held true for the last 8 years.
They will be mining substantial coins at an accelerated rate, but they may find better profitability in other coins for a portion of their machines to make up for the reduced bitcoin output.
Either way, this company is way, way undervalued. And with only 8 Million shares outstanding, it sets the stage for a massive increase in price.
The number to watch for this stock is the volume. Less so on the price. All INTV needs is consistent volume higher than 15% of the total shares outstanding. So, if it can trade 1 million shares plus a day for 5 days straight, the price will rocket easily.
Without that, its a slow grow stock, which I also believe is a good play.
OTCMoney - thanks for letting me know about UBIA. I looked at their 10K and what they do. I am shocked a company with no revenue for the last 18 months is able to trade at $50-88 a share. They are sucking money out with the SGA (Sales General and Administrative Expenses) and losing about $500K a quarter. 38 Millions Shares outstanding.
INTV is generating revenue. INTV has only 8 Million shares outstanding. A mere 10% volume of trading can significantly impact the price of INTV, as we are seeing today. Once their financials show profits and revenues, INTV is clearly heading North.
If you got UBIA at $0.50, congrats. However it is clearly a sell now. 100x ROI is a great investment.
If INTV can do 3 successful days of trading at 30%-50% increase in price each day, FOMO and fever will catch on.
Its at a 14% premium, so that makes sense. I understand most of Wall Street in NYC is literally out to lunch right now. But when BTC dropped below $16K, I expected a swift retraction on GBTC. Looks like Wall Street is "Out to Lunch" figuratively as well. The delay helps the stock as now BTC is $16,5K, but it would have been one of the best dips ever if it occurred one hour later or earlier
Last dip should be nothing the the one coming now. BTC dropped to under $16K and falling. A *huge* wake up call is coming to the short term investors who bought at the highs today.
The "Record Date Shareholders" is November 6, not today. The money will be distributed today, but you can't just buy the stock today and expect $113/share. It was written to be confusing.
Not according to my sources. Most of the Futures markets will sit back through the first period to see how the market handles it first.
Massive selloff of ETH to buy BTC
Once BTC went past $17,500 BTC will go to $20K rather quickly, according to some of the top BTC analysts I follow. Just added aggressively. Hopefully the current gap in the premium will close quickly, justifying the price range for GBTC now.
ETH is now on fire.
To buy on Friday and hold, unable to trade for the next ~65 hours, given the volatility of Bitcoin at the time, required balls of steel. Either that or stupidity. It depends on your point of view. As I said on Friday after the close, the risks are the time were far too great.
On Friday, rumors on the Futures market were both, it would rise or fall.
Plus on Tuesday GBTC dropped 500 points for no reason.
Lastly, the premium for GBTC to the price of Bitcoin was being challenged. Logic was not holding.
Being a Monday morning quarterback: Over the weekend BTC did dive into the $13000 range. If it was at that level when the market opened on Monday you would have something very, very different to say.
Still, congrats for holding. I expect a dip at some point and will be watching for it.
Tenured, thanks for pointing out Litecoin. I got in on that run
Hope everyone in NYC is safe, especially with the Port Authority BS that just happened. Amazing that the current price of GBTC is near Friday's last 2 hours of trading. It makes the whole weekend of angst for some of the longs moot.
FYI, Yahoo launched a cryptocurrency listing https://finance.yahoo.com/cryptocurrencies - I like it ... it lists SALT, which will explode as they are close to launch.
Trend, your chart changes entirely when you show the Y axis from a non-logarithmic perspective.
The logic made sense. Look what happened on Tuesday, with the $500 price drop.
Some weeks ago, we also saw a falling knife from $850 to $800 for GBTC at the end of the day.
So it made sense, given the circumstances. I am actually surprised the drop was so small.
Bitcoin would have to maintain its price over the weekend or raise in order to maintain the $1650 price on Monday. If the Futures do affect a price rise, that would also make the price a great buy.
For me, I looked at $1650 and said the risks were far too great to pay that amount on a Friday afternoon, left exposed to the elements for the next 65+ hours, given the week we went through.
Bizarro World. Alot of buy orders are in...
Ethereum, even for the longs on this board, that is a big risk buying at the end of the day. Your shares are locked all weekend to the volatility of Bitcoin, which rose way too fast this week.
Since BTC topped, every 6-8 hours BTC has a massive drop, followed by recovery. The last big drop was ~9 hours ago. If one were to occur in the next 60 minutes, it may catalyze GBTC in the last hour to fall further.
I agree. Expecting a major drop this afternoon. If not, I will wait and see. Fundamentals are being tested here.
I agree. I expect a massive selloff starting in the next 90 minutes. Probably similar to Tuesday.
Several factors will play into it:
(A) Bitcoin is way volatile now, with swings of $3000-$5000. Its one thing to have your shares locked up for the evening. Its another for the entire weekend. That's a long time.
(B) Yesterday taught investors that GBTC is not BTC and BTC is not GBTC. The correlation of a price ratio and premium was discarded. It turned investors off, as you have seen brought on the board in the last 24 hours.
(C) The effects of the CBOE....Rumors are abound that they were the major players buying and running up the price of BTC so it can be shorted Monday followed by a selloff. That would have a huge impact on the price of BTC and can seriously harm the share price of GBTC.
These facts will be playing hard on stockholders psychology late this Friday afternoon. "Selling" is just an easier option.
Long term: GBTC with its bitcoin and value should do well, provided CBOE doesn't whack the price of BTC down terribly. There may be a good buy opportunity at the end of the day.
End of day close will look good. +$150 point gain. That's several days in a row of significant gains. Now we need BTC to stay stable at $16-18K and we are fine for the long term.
Researching this now. I understand that one share of PLLLY on the OTC is the equivalent of 100 shares of their same stock on the Australian Exchange (ASX)
But there is another factor. That has to do with the spread of the premium for GBTC. When GBCC was trading at $800 and $900, a 20% to 30% premium meant that GBTC was trading at $960 - $1100.
When BTC increases, the same premium percentage would be a much larger spread. So my calculation on an 11% premium compared to the price of BTC should make GBTC at least $1880 right now.
Clearly, that spread is tightening and the percentage of the premium is lessening. Today, the market is not willing to bet on GBTC trading at 11+% the price of Bitcoin.
Normally, yes. But we ad a massive spike in the price of Bitcoin, which should have valued GBTC trading at the range of $1850-2100 today.
Negative investor sentiment could lead to the negative pricing, but that is not justified. Bitcoin is on a tear.
The only remaining logical solutions to choose from:
1) This is an anomally and should be ignored.
or
2) There is a new definition in the value of GBTC.
or
3) GBTC is artificially manipulated.
This new paradigm has benefits and drawbacks. We all liked GBTC for the volatility. Today that was removed. BTC went from $19,600 to $14,000+. Coinbase went down....all the while GBTC fluctuated for the most part +/-$70.
Its bizarro world. The other day when GBTC went from $1900 to $1350 and back should have been today, in lockstep with the BTC market.
Looks like a new paradigm here on the value of GBTC. A percentage of the price of bitcoin can not be counted on, with a premium or none. Therefore, GBTC is not Bitcoin and the price of Bitcoin has little bearing on GBTC value.
We are now trading BELOW 10% the price of Bitcoin. GBTC must rise.
Based on GBTC history, it is now undervalued. GBTC is trading at 10.9% the price of Bitcoin. GBTC never traded below 11% of the ratio GBTC to BTC.