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Correction time. Post halving jitters ? Gotta look long term with BTC. History shows the cycle. GLA
Look at the volume today so far. Over 42 million. More than Mara. Looks like big buys are supporting this above yesterday's closing price. Very good sign IMO. Nearly all other miners are down.
Might be a delay as Bitcoin is currently dumping. Lots of sellers all of sudden. It's the way it is. Riot holding so far and even had a nice rise this morning when Bitcoin was actually down from yesterday anyway. Good sign for the future. Buy any dips and hold IMO.
Volume not far off Mara now instead of 3 times lower ! It looks alive again. As more good news come along, like getting some of those less efficient miners sorted out and Bitcoin continues to rise, then away we go again. Should be great if we get BTC back to ATH. Anything above should be really good ;) GLA
Yes but ........ interesting how it hangs around the $10 price. Looks like BTC has jumped the gun as well compared to previous runs, after the halvings, not before them. I think we are on hold for a while here but will go when BTC goes to new ATH and beyond. Bitcoin is building nice base for that run IMO.
Diluted since those highs but stillllllllllllll....... My gut tells me this and most miners are on hold. Waiting for the big BTC pop above $100K. I think then the buying will be in full swing. These are being accumulated while they can be IMO.
Pathetic move compared to BTC. Mara the same today. Waiting mode for after the halving I suspect so the higher Bitcoin goes now is unlikely to move these miners. I will hold. We need Bitcoin to break out of this price area to a new ATH and then I think the buying will arrive instead of the churning to keep the price low for accummulation by the big players. GLTA
Sellers outnumber buyers day after day. Managed to look bad ? Is Riot's mining infrastructure become worse or is this being held down waiting for some news to let it go ?
They should have invested in renewable energy. Good luck with that in Texas !
Interesting recovery today. Have most of the rats left the ship now and we see this recover ?
Looks like MARA's epic drop during the biggest rise is Bitcoin so far is thanks to them doing a massive dilution into the market. Just kept selling millions of shares over the week and more. Now it is rather like Riot in that regard. When this starts to move up again, I hope to see Riot stay more even with Mara, not a 4 to 1 ratio we've been seeing for the last couple of months. When it starts to move again is going to depend on when everyone decides to ride this rather than a slow moving ETF. Just my opinion,
Is this all because Bitcoin mining is finished ? After the halving, mining will be twice as difficult, so more power hungry, so more cost and so on. Bitcoin has to double and more to offset. But it has more than doubled. Could this massive sell off be orchestrated ? Make all the miners move down and shake out millions of shareholders into rich hands. Could also be punishing the dilutions. Do ETFs really affect the miner SP.
FLASH CRASH IN PROGRESS. On Coinbase. Bitcoin panic selling by the looks of it after hitting the ATH. Should recover after this all gets through the mill IMO. Blood bath for some though. Buy the dips. GLA
Most Bitcoin miner companies are down as Bitcoin reaches near its all time high. The thinking is pessimistic in that this will crash, so better to get out now. Nothing like the what happened a couple of years ago. Bitcoin needs to break substantially above the last ATH to the foot on the pedal again ?
I think you could be right. This is why the share price is not going ballistic like before. Large selling orders at the opening shoving this down every day. Perhaps big concern that Bitcoin will do a big crash so why buy here when it will be cheaper IF the dump happens. Sideliners waiting. Mara is even hesitating now. GLA
You could be right. If Bitcoin runs like expected, that is the push Riot needs. I suspect the big MMs have made this look weak purposely and using that weakness to push Mara for now. Massive shakeout into holding hands before the halving. GLA
The recent news about ordering new miners was the signal to sell. Sell on news thinking. 31,000 new miners on order but about half of those to replace weak and old miners. This is normal though. Stuff fails in time and needs upgrading to better tech to be more efficient. All the mining companies will have the same issues not just Riot. Managements constant dilution to make this happen though is dubious.
MMs hammering Riot ? Huge shake out maybe in progress ?
Sure looks like punishment to me. Did Riot management not do what the MMs wanted ? Also, there is scare news about the government monitoring power consumption used by the mining companies. Why are all these miners not using solar or wind power ? In Texas, none of that matters I guess.
What a difference two days makes ! Going up nicely but at only half the rate of MARA now. Have they got twice as many miners operating now ? Smaller float or what ? 3 times the trading volume of Riot too. All focus seems to be there for now I guess.
MARA dragging most miners down today. Market control again ?
shake out again. GLA
Sure looks like that. Big sell orders on the opening for Riot and Mara. Punch it down, make it look like the game is over. Discourage buyers. If Bitcoin does start to roll to new highs this year, I think we will see this trend reverse big time. Currently, this is like a slow motion shake out, imo. GL
Why so much selling pressure ? Punishment of some sort by previous promoters ? Pre-halving jitters possibly ? It seems most miners are experiencing this downturn while the Bitcoin price is over $40K ! Maybe the hold is to see if this doubles soon after the halving. GLTA
Thanks for that video. Loads of info in there. Need to watch it again. GL
Interesting in previous video that the hash rate for Riot machines was so low. I thought they had top of the line miners. Water cooled so more efficient with power but are they better at mining ? Or like suggested, do they have roughly 1/3 of the miners off line ? Maybe on purpose ? This would explain the lower price as well. Perhaps management should tell us why the hash rate is actually lower than we are led to believe ? Maybe that will change in the next month or so. GLA
Bitcoin up past $45K but the miners seem rather dead. Fear that this latest high is brief ? Riot is actually doing better than Mara and HUT at this moment in time. Big shift possibly coming imo. Riot needs to catch up. GLA
Bit of a blood bath going on ! BTC drops to $41,600 a little while ago and the miners plummet big time. Over reaction imo. Opportunity for the brave. GLA
It seems the push is on MARA. Wow. HUT as well. RIOT in the slow lane I think as punishment for the dilution. Management to blame on that but still, they have no debt. That has to count for something. Maybe that will change in the new year as profits from the others change to RIOT.
Perhaps the spotlight is on Mara for now and profits will move into Riot in new tax year. Riot is lagging like Mara did a few years ago.
Agree with your comments. Dilution has thrown out a drag anchor slowing the share price rise. The only things going in shareholder favor are no debt to manage and more miners on the way.
Interesting that the overhead is lower. I figured it would be the other way round with Riot located in Texas. Electricity costs for one. Debt probably not an issue with Bitcoin rising and expected to rise more. You were smart to swap some over. GL
Looks to me like Riot shareholders selling to get into Mara for now. Take a ride and then switch back to Riot and push that up if Bitcoin price holds or moves up. Pretty heavy trading. Riot is buying loads more miners too over the next year. Mara is apparently just trying to buy mining companies. That could back fire if they buy pumped up duds.
Bitcoin correction. Good imo. Needed it before it moves up again. GLA
We are into the last weeks of trading for the year. Might not see much in gains until January I suspect. Tax selling time ahead. Next year all this positive news might just gel, and if BTC is higher still, maybe the buying will kick in big time. GLA
Be great if management rethought that dilution.
Riot announced news to buy more miners. Sell on news is hitting the SP I think. But I am also thinking that there is big manipulation going on to make this look like maybe, it is time to sell. I've seen this many times in my years. A slow motion shake out. Once the "right" hands own the shares, then we see promoters step in. It's an old game. GLA
That's what is missing. You are probably correct. The ETFs being approved are the anchors holding this back. When those gets weighed, assuming some of these ETFs get approved, this mining ship and all the other miners, should see a surge. Let's hope. If none are approved Riot will move with BTC with no leverage I suppose. Hang in there. GLA
First, go back to July. Riot traded up around $20. BTC was around $30,000 then. It corrected back down and Riot followed. $9 by October. BTC starts its current run but Riot was not moving at all for a while. Mara either. These have both been lagging compared to before July and especially to a couple of years ago. They now seem to move at the same percentage change as Bitcoin. No leverage like before. Maybe that will change as it is clear about the cost of mining per BTC coin these days and then some leverage will be adding to the share price.
Cointelegraph put out an article 4 weeks ago that has not helped. It said Riot and Mara are/were the most overvalued miners. That must have had an impact. Dilution wotj more options did not help either.
Go back three years and see what this did when BTC hit $67K. Maybe if it gets that high again or more, we will see this double or triple. If you are playing the daily swings then none of this matters. GL
Riot and Mara seem to be stuck in the mud compared to Bitcoin price. Diluted too much to make the rocket runs of years ago ? Or is it being churned to keep price low to move shares into selected accounts ? Then the brakes come off. Just thinking. GLA
Not much of a gap it seems. Buyers worried that Bitcoin will fall back I suspect. If not, we should see this move up higher and higher. Price seems incredibly low for Riot and Mara. Maybe the monthly earnings figures will help.
Something must be cooking in the board rooms. Share price looks like it is being held down for something that is brewing and the sudden rise of Bitcoin caught them by surprise imo. $10 area is where this this seems to stay until whatever is cooking is ready. The possibility of very big profits in the near future is too much for big money to ignore so I think I will stick around. These guys are making it look bad in the meanntime. GLA
Does this sluggishness have to do with the ETF's for Bitcoin ? Why then ? I know the shares were diluted but not enough to stamp this down like it is and has been since the recent $20 SP. My gut feeling is that some big players want a big chunk of Riot and Mara. Churning to hold it down. If BTC does the $100K run or more, you'll see why.