Unfortunately, I agree with your guess. It is too bad. I really thought Steve was on the right path for a legitimate mining operation but the reverse split was the kiss of death for OTC stocks.

I wonder why we haven't seen Saving Grace recently. He is on record claiming Bitcoin is going to zero before the year end this year. 20 more days for Bitcoin to drop over $100,000.......... odds are definitely not in his favor. lol

MoneyMaker111 you need to do a little more research. Claiming the mining process is bad for the environment is an uneducated blind swipe at bitcoin mining which first came up as a scare tactic 5 years or more ago. In fact, even Elon Musk made some comment back then and pulled his support for Dogecoin for this reason. He then met with scientists who proved to his satisfaction that this argument is purely mis-information. They have done studies to compare the electrical use of the bitcoin network (miners) running and in doing so, also creating the financial transactions that is done on the network. They compared that to what the banking industry uses in electricity to run their transactional network. On a per transaction basis, the crypto networks (being decentralized and sharing data) is more efficient (LESS ELECTRICITY USED) than traditional banking networks. Therefore, you can flip your argument completely. Once more banks start converting or using a crypto based transaction infrastructure, we can use less electricity and slow down the heating of the planet. Also, do a little more research on what progress the makers of the crypto mining machines have been doing. The most powerful miners are now being sold with internal water cooling systems to run at lower temperatures. This also runs quieter than the original machines which needed bigger and louder fans to keep cool.

Also, regarding China and Russia. Both countries are charging full speed ahead to develop their own digital (crypto) currencies (so is the US and most developed countries) as they want their own crypto currencies to dominate the world network for financial transactions just like the US Dollar has for decades. This is the primary reason they keep banning or attempting to ban transactions and/or mining. At the same time they turn their heads and continue to profit from these crypto currency networks and let the largest mining operators continue to operate. Their government threats of closure is used as a source of power to have influence on regulations to ultimately compete with the non-government backed crypto's.

By the way, as typical for all government driven currencies, these self grown crypto's will never dominate the likes of bitcoin due to the permanent cap on the number of coins (21 million ever). The government back digital currencies will continue to issue new amounts of their coins just like they currently do with FIAT currencies which is an endless inflationary pressure.

Good luck in your world.

That was probably Chartmaster starting to dump when he realizes this P&D isn't going anywhere this time. Too much history of failure on this one.

Yup. Still having fun watching. Back over 100k. Show us on your charts where support is now? Is it 100k or 92k, 95k, 96k?

Those milestones are what I am seeing for those of us who follow the 4 year cycle of bitcoin halvings. The peak of this 4 year cycle still isn't scheduled for several more months. If it follows the last 4 year cycle, we should peak mid summer'ish 2025. Not only that but a minimum of a triple off the previous cycle high (that is the low projection 69K X 3 = 207k ish).

I heavily believe the introduction and acceptance of the ETF's will smooth out the volatility of the four year cycles in the future. However, for this first cycle where the ETF's are involved, it may create more upward pressure on the first cylce spike due to a large demand by the hedge funds and weathly investors now being able to participate (without understanding or knowledge of cryptocurrencies). Hence 207 may be low. I also don't expect an 85% pull back from this cycle high due to the ETF's.

2025 will be very fun to watch.

Hey Scotttrader80, my mining operation was fairly small and is currently shut down due to old machines and high difficulty factors. If the price continues to spike a good distance from here, we may turn them up again. I did, however, hold on to all mining payouts...... Enjoying the HODLing now.

I just watched bitcoin hit $100,000 on Coinbase. Wow! fun times still ahead

It seems to be working. Keep it up. lol

it is strange and also nice to see multiple transactions on ERHE in one day.

Come on Peter, make ERHE current again..... wouldn't that be fun to watch before buyout news.....

This is a great point and true. Just keep stacking "Satoshi's", as they say.

A little healthy retrace earlier today but Friday's have been a bit odd the past few months. It seems to spike a little going into the weekend after the stock market closes. I don't know why but that has been the trend.

I expect $100,000 to be a strong psychological resistance I could see it touch and go back down 3 or 4 times before finally breaking through. However, there is no good logic behind that resistance level. Bitcoin is still on track for its strong run in the 4 year cycle. It should continue up for the next 6 or 7 months but likely some big pull backs in that time.

Nowwhat2,

For several months you would occasionally put the $100,000 BTC price on your chart before the end of the year. At the time, I took the implication of this that is was highly unlikely (if not a dream) in your view. Just wondering if reality has adjusted this implication or was I just wrong on inferring this from your old charts?

Now that the stock market is closed on this Friday, Bitcoin starts going crazy again...... Let's see what this weekend leads to.

Saving Grace, give it up. Your call for Bitcoin going to ZERO by end of 2024 shows your lack of intelligence or reasoning. Go back to your conspiracy world and watch your step near the edge of your flat earth........

JMO but bitcoin is above the individual politics or party politics of the USA. There are pro and con individuals from each party. However, bitcoin network is GLOBAL and not controlled by any one government entity. That is one of the many reasons it is so great. China has made bitcoin "illegal" three times now (they keep changing their position) and yet the chinese are known to be top holders (and miners) of bitcoin. Yes, the USA has a huge influence on this new global currency and our policies will sway momentum, however, the fact the SEC approved the ETF's this year has really pulled the individual party politics out of the equation. With the big money involved holding the ETF's, neither party can push this backwards again (IMHO).

By the way, I am still very PRO-regulation of the crypto market as it brings continued legitimacy to this sector. I am just hoping for reasonable and well thought out regulations. Make it similar to SEC type regulations to control or dampen fraud. Implement the Know Your Client regulations, etc. This is good for the long term growth of the crypto space.

Good luck to all.

I agree with that evaluation. If only it weren't for the clueless CEO's decision to reverse split this. Pretty much killed the integrity of this stock. This mining operation was on a good path and would have been on similar runs to MARA, RIOT, etc. But, no. Regardless of intentions, a reverse split is a tell tale sign of a scam or failing entity.

I hope this can someday pull out of the hole created by the CEO but we will have to wait and see.

GLTA

I am expecting a healthy retrace before next leg up but we just hit another all time high of 90,100.

Fun times

This is getting pretty fun to watch. Keep in mind, I think we are still fairly early in the Bitcoin runup for this 4 year cycle. If history repeats itself (as it has done the last 4 cycles), the peak is likely around mid summer 2025 and should be way higher than the 88k we are seeing today.

Now, where did that poster go that was saying bitcoin was going to zero by the end of this year? You know, the one who kept claiming black diamond was bankrupt (wrong black diamond) and all banks were failing, etc.....

Ok, that is hilarious! Saving Grace's prediction of zero by year end is not looking very likely at this time...... lol.

Agreed 100%. Buyer beware in this case.

Slojab,

For the record, I think your pinned post in the intro is more relevant than any new BS that Frankie would put up there. The reality is Frankie spins this OTC security through new concepts for a company multiple times, sells massive securities to gullible gamblers, then reverse splits it into oblivion, then repeats. I, unfortunately got caught up in two of his business idea cycles that resulted in NADA!, Nothing!, No Revenue!, No Profit!, No on going business venture, even at a loss. It is a pure joke.

Keep the transparency alive.

That's a pretty good analogy.

Agreed nowwhat2. I am not a fan of meme coins. Especially as any kind of investment strategy. In my opinion, the meme coins give a bad name to altcoins in general. Many altcoins have very specific functionality that is very warranted.

Is it promoting all time highs or predicting all time highs? There is a difference. I am clearly predicting all time highs based on straight forward supply and demand influence. The "halving" occurred in this year which cuts the newly generated bitcoin in half. Straight forward cut in supply. We now have SEC approved ETF allowing a huge new demand by the professional fund managers with a new tool to incorporate into client portfolio's who probably would never be purchasing bitcoin on their own.

The inevitable is likely to occur over the next 6 months. No hype, just solid analysis.

Hey BottomBounce, you may want to get in META now. this may indeed be a near term "bottombounce" for them. LOL.

The trend is your friend. This one has been unfire for multiple years. Just enjoy the ride up. Social media is not going away anytime soon.

Name one central bank that has recently gone insolvent.

Go ahead and give 1 name of your so called 900 elite bankers that was arrested and provide one legitimate link (without fake conspiracy theories).

He was also on the wrong side of META for several years with the same "end of the world" scenario's. Just anoying.

New all time high for Meta.... ho hum. Really tough holding this one. lol

Hi Nowwhat2,

According to this post from earlier today, you were showing the line of 58,400. It looks like from your graph that BTC bounced off (or close to it) the 58,400 about 4 times in the last couple days. In the past, you had some pretty solid lines on the 60,000 line. Maybe that is historical resistance?

Anyway, now that BTC broke through both the 58,400 and the 60,000, what value will you move the resistance line up to now?

AP17 is correct.

For those out there who might be suckered by the BS being spewed about miners being shut down, you can always search for an active chart of the Bitcoin hash rate. This shows actual proof that miners are NOT shutting down. The hash rate is shown daily which equates to the total computing power on the entire worldwide Bitcoin network (mining bitcoin). It does fluctuate based on new machines being turned up and older, less efficient machines being turned down. Price also comes into play as more older machines get turned back on when the price rises as long as the net return mined is greater than the electric cost. There are many other factors that play in world wide but it all adds up to the entire hash rate across the not flat, planet. Some large mining farms are run in conjunction with power plants where the mining operations are credited to use electric power in low use times to even the demands with power production. Example in Texas where by mining operations working directly with utilities smooths out the power consumption and therefore there is less "flaring". Talk about a win, win. Better on the environment and lower cost power to all consumers.

I personally run multiple mining operations but also have connections to very large operations and I can personally confirm, miners are not getting shut down.

ap17, when government pension plans start publicly investing in BTC ETF's, we know crypto is here to stay. It is almost too funny how some still come back and say it is going to zero. Not going to happen anytime soon. There would have to be a superior crypto to replace Bitcoin which currently holds a 55% of all crypto's by market cap. And, there are thousands of crypto's that exist.

Thanks for posting relevant data that is important to digest for real analysts.

Vegasandre,

If positive news develops on ERHE, then there will likely be two possible outcomes (IMHO):

1) News comes out of an outright buyout of ERHE. In this case, no worries on your shares. Those shares will be replaced with $ in your account on transaction date.

2) ERHE could actually file to become compliant again. IMHO, only reason to do this is if some positive event is imminent. If they filed to become current, your shares would become tradable in your account.

GLTA

Seems to have decent volume on this spike too.

Actiontime, your post is spot on and my thoughts exactly.

The Germany/Mt Gox/US Gov selloff is helping create a dip/loading zone before the post halving run. Look back the last three cycles. There has been a nice pull back before the 3x to 5x run to peak.

Good luck all

Going into the second half of 2024 and Meta hits a new all time high and continues to head north.

Where did those lame posters going that were claiming Zuckerberg was in jail and meta was going back to $200 or lower?

Too funny.

Enjoying this ride.

Just so we are partly on the same page, your statements about China banning crypto being some kind of sign that bitcoin is doomed is far fetched at best.

The real history of China and crypto's:

Since the first release of Bitcoin in 2009, China has "banned" crypto 18 times in various degrees from various parts of the Chinese government. The most recent ban was in 2021 (three years later and it's still more popular... so much for that ban). None have been effective and China is still a MAJOR player in mining bitcoin, using bitcoin in trade (I have actually purchased items directly from China using bitcoin), managing mining pools, and finally.... they are the predominant producer of custom crypto mining machines. This is a huge revenue stream for China so they mostly look the other way.

But, if you still think this scares people, I am laughing at you. Watch out for that "ledge of the earth". LMAOAY

ap17, my thoughts exactly LOL. Stunning what they keep believing when facts stare them in the face.

Eli, for those who follow the 4 year cycles, bitcoin typically "peaks" 3 to 6 months after the every 4 year halving. The halving was April 19th 2024. It also usually goes up approximately 4X from the price around the halving. However, now that bitcoin is more broadly held, I believe some of the spike is priced in especially since the new ETF's. That said, I am guessing we have a few more months before the peak. It also traditionally pulls back before the big run. I think the ETF's are watering down the pull back to.

Good luck