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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.
BTC up. Riot and Mara down 5%. Why ? Heavy selling pressure to hold them down for something in the works ? Saw exactly the same thing a few years ago. Then it popped. Big shake out imo. GLA
Interesting hypothesis circulating.
https://www.fool.com/investing/2023/11/04/are-these-bitcoin-mining-stocks-a-sneaky-way/
Bitcoin miners using their huge inventory of computers for Artificial Intelligence. Like, Riot has thousands of miners that could possibly work in parallel ? Feasible ? AI is the next Dot Com it seems so maybe this will be a new platform to run up share prices ? Share price is not as volatile as it was compared to BTC so something new is needed to push this up again imo. GLA
Quite the offer wall up now. Price in my opinion is being held down. Some deal in the works ? Merger ? Or as Mikey says, maybe a buy out. Someone knows. GLA
Interesting. With Mara and Riot not so far apart in SP now, maybe a merger? Huge BTC mining company then. A price must be set.
Looks strange. Is it possible that BTC got away before some nice juicy options were set and the SP is being held down ? If so, this will pop when the reins are let go. Holding. GLTA
Yes. The world on the edge. Bitcoin and share buyers everywhere are nervous for sure. May 9th could be a key date seeing as Putin needs some kind of "good" news for his parade on that day so perhaps some kind of peace deal will be signed before then. If not, it could all get worse. I keep asking myself, "ok what's next to stop BTC improving ?" ! GLA
Looks like the BTC sell off is being helped by Bitcoin miners, like Riot, selling their stash off ! Not a great look imo but a perfect way to do two things. Get cash in the bank and also beat the share price down. Once that is hit down, load up on shares again and go for another ride when Bitcoin recovers, and it probably will big time once the war is hopefully done, one way or another. If this is what is happening, then it is a perfectly legal way of manipulating the share price isn't it. You just have to join in.
This scenario drops the worth of the company temporarily I suppose but because they have so many miners operating now, the stash will build up again quickly and they would have cash in hand meaning they might not need to offer more shares to the public. So it might not be so bad to sell of Bitcoin now for future safety. GLTA.
Well another one now. Big dip again. Ukraine war escalation. Could get ugly very soon and if tactical nukes are used by Putin who the hell knows. Defeat unacceptable by Putin so we have ride this out. I sure hope this is the last surprise hit to Bitcoin. GL Ukraine.
Was that a sucker dip ? Went just below the 30 day MA. Scare out chart followers maybe ? Bitcoin sure bounced back to just under $44K quickly. Will it hold though ? Short term turmoil until the Ukraine war backs off I suspect so good for those playing the dips. GL
Fabulous results and they will only get better ! Just need to get this latest Bitcoin dip over with. $43K is supposedly the support line. Will it bounce up from there ? Great buy time if think Bitcoin is going fly later this year. GLE
Well. Not much of a punch upwards. Just a matter of when. GLA
Looks like another punch upwards towards the $48K Bitcoin ceiling. Maybe it breaks but if not, it will certainly weaken it. Inflation is going to go nuts I'm reading so cash is going to find ways to hedge that. GLA
Bitcoin walls at £48K and $48.5K then a small one at $50K. These are there imo to milk out the sellers before we see another rise. That could be anytime soon. Month end is today. Let's hope April is the month of the Surge to new highs. GLA
Month end selling by the looks of it. Buy the dip if you think Bitcoin is going to surge this year to news highs.
Probably a dance ahead like you say. Bitcoin just needs to crack that $48K ceiling now. Might take a few runs so hang in there.
Riot moved better yesterday but investors are still a bit gun shy by the looks of it. Bitcoin moving up from here might give some more confidence to buy and hold. IMO Bitcoin is at the beginning of another positive surge. Where to is the question. GLA
Looking healthier today. Bitcoin is flying again. Hope it keeps on upwards now. Inflation is going to be mad so Riot is a good hedge and is over $23 again at this time. Trading well. Lots to go yet if BTC breaks through even $48K. $50K would be a really good sign. Holding for the big ride. Imagine BTC over $100K ! Even more if predictions pan out correct. GLA
Nice climb since Friday. Bitcoin on the way to $50K perhaps and if so, definitely breaks above the 6 month moving average. Might be some resistance at this price but we shall see. Riot is way under priced IMO but maybe that will change if Bitcoin holds and gradually moves up. It seems that it is dragged along by Mara nowadays. Why is this ? It used to be the other way around. Riot has more miners, and more efficient miners in operation as far as I know but does own less Bitcoin. Let's see what happens this week. Good luck everyone.
Looks like a psychological sell off after Bitcoin popped over $45K for short time today. That was the recent ceiling that needed to be broken, as I see it, so I suspect selling pressure because it might seen as just another top. We shall see. If Bitcoin moves above and keeps moving up, there will many who will wish they held on. Buyers will probably move in big time and we will see Riot SP jump up. $25 not unreasonable if BTC gets $46K and more if higher. With Ukraine appearing to beat back the Russians, maybe the BTC will be going a lot higher. Go Ukraine ! GLTA.
I return. Saw little point posting while this Ukraine invasion is going on but there is a bit of hope for peace talks it seems. Putin is getting his clock cleaned. Maybe his days are numbered too once his people learn the true story and the lies.
So if some kind of peace deal is reached I expect BTC to climb quickly. Riot has picked up well before this happens and it should really move as well. Inflation is going crazy so money will head to the best ways to offset that. Bitcoin is the easiest imo with possibly great returns. And Riot just keeps adding more miners and growing the stash. GLA.
The Ukraine problem has to be solved before we see Bitcoin move up IMO. In reality it makes no sense but that's the way it is. Compromise is the only common sense answer but as we know, there seems to be a great lack of that with the people in power. They just want more power. I wonder if this is being worked as a swing game in Bitcoin price though. Bad news, then good news, then bad news. Good news might follow ? GLA
We are not out of the woods yet it seems. Biden has ordered all American citizens out of Ukraine. That probably explains why we saw the sharp dip in Bitcoin. Let's hope common sense solves that testosterone driven scenario. War would be stupid. But should fighting break out, doesn't gold usually run up in war ? Oil might as well and so I figure Bitcoin will too. Bitcoin might just move up either way. Nervous will sell though and wish they had not in the future. GLA
Bitcoin is moving again. Looks like the long term is very good imo and new highs are coming later in the year if it gets above $48K. $100,000 is not unreasonable and maybe higher. It is a place to offset paper money devaluation due to very high inflation in swing now.
Riot is not performing like it should yet and Mara is. Any suggestions why this is ? Mining slowed due to electricity is a weak excuse imo. Their hash rate is improving all the time. Maybe Mara is being pumped and those profits will shift to Riot, like happened last year. Let's wait and see. GLA
I'm back. Decided to not bother posting while Bitcoin was falling thanks to Ukraine issues. Panic selling and it hammered Riot down as expected. I think that is behind us. Bitcoin "looks" like it has bottomed and ready for the next run imo. Riot is hampered somewhat due to electric supply issues in Texas though. That will disappear soon and it sure has made a buy opportunity. Maybe Riot management need to think about installing renewable energy sources though. Solar seem right in Texas. Miners being installed every month as well so power is mandatory. Their BTC haul should just keep moving upwards and as we see Bitcoin run again, up she goes.
I wonder if the company could have bought back shares when they were really down lately ? They have the cash. Would have been a good move. GLA
Some interesting ideas RandolRocketman. Bitcoin dividend ? Might work but for those without wallets, the company would have to create something for shareholders. Crete their own exchange is a way I agree.
Maybe shareholders could be given an option for Bitcoin or cash ? Those who believe Bitcoin is going to go crazy in the near future will opt for the crypto. The BTC supply is shrinking so that means increasing prices.
As Station mentions, if interest rates do move up, Bitcoin should as well. It looks like it is being priced as a listed company lately but that should change when Bitcoin starts to rock and roll again. It is just a matter of when. Long game here if you have the patience. GLA
It sure looks that way. All depends on whether Bitcoin is pretending to be a dead cat. Those do tend to bounce a bit. But if the cat is just sleeping and wakes up, this is the bottom again. Just need to see the trend change to positive for the short term buy holders. Long term, Bitcoin supply is shrinking all the time which means higher prices. All imo. GL picking the bottom.
Now below $20 in premarket. Little wonder when you see the big sell off of Bitcoin. Five minutes ago, in one minute, 650 Bitcoin sold ! Big holder dumping. Went below $40K as well so we might see $30K next. Not good for now. Buy at the bottom :) But will that be ? GLWT.
Happy New Year all ! Well the market is not happy after Fed news but it will recover. Been pretty brutal out there. Bitcoin bashed again but I see this as stage for the next bull run. Riot hit down even after good news again on mining results. More in the pot for the future and if Bitcoin does the $100K dance, Riot will fly again. Long term hold if you think BTC is going to moon in the coming years. Buy time for those who think that way imo.
Probably see sub $20 next though. Let's get past the new year first week and see who the dust settles. GLA
Well Bitcoin is still in correction mode. Big owners can play this up and down easily at these prices. Still a couple of weeks yet in the tax year though so we may see lower price yet. Omicron not helping either right now. Economies about to get hammered again so imo Bitcoin should rise like crazy once the virus dust settles. GLA
Bitcoin has touched the 6 month moving average. Last time it just about touched it went up to the $69K ATH. What this time with all the disasters out there ? Printing paper money for sure. End of year coming fast. Rebound in new year as I see it too a new ATH. GLA
Bitcoin, imo, is being played with by the big boys. Low volumes, tax selling time coming soon so large block owners can simply sell a few hundred coins, crash it down a grand or two and then buy back slowly. I will be surprised to see any upward momentum before the end of the year. When the new year begins, up and away it goes if predictions are correct. Bargains for the taking out there this month. GL
And it might not be over yet. Tax lose selling time in swing again now. But in the new year, I think the next pop is going to happen. Buy on weakness if you are a Bitcoin believer. Next run might see Riot back to $50 if Bitcoin does the predicted $75K in January. DYOD though. GLA
Looks like another Bitcoin reset in progress. Shake out the weak perhaps. Might see this go lower yet but definitely a buy if you catch a low point. Might be tax loss selling in the mix too. Looking long term, up is the only way for Bitcoin.
Riot mined 466 Bitcoins last month. Great numbers again and it will only get better. It is just a waiting game for those who are patient. GLA
NEWS TODAY. Production rates and new purchases of miners. So that is why we saw it dump today ? Sell on news again even though it is good news. Hash rate could be 9.0 EH/s not including liquid cooled machines. They keep adding and Bitcoin is holding so inverse logic says we need to pull back. Duh. Might see a rebound after the clear out. GL
Soon they erupt. Bitcoin still doing the 1 step 1 step dance building a base.
Riot put out news yesterday. Bit more dilution and spent $50 million for the crucial company needed to power up all the miners efficiently. This is the stuff you have to have and without it, many mining companies will fail. Money well spent imo.
I suspect this will lead to more miner purchases. With team to install them on hand, part of the Riot company, these will working soon after arrival. The question however is, how do you buy more miners when they are in such high demand ? Pay more and move the front of the line is the only way I think but with over $500 million in the bank I think Riot could do that or simply buy out another mining company.
That little flurry to over $40 yesterday shows just how this is going to fly if Bitcoin breaks the last ATH. Just a matter of time. GLA
Buy when everyone is selling. Would have done well on this one.
Riot looks like it is sitting on a volcano imo. It seems to be getting traction again now that the $600 million offering is done and history. Riot has a lot of money .... for something. What ? I think we will see the S/P move past Mara gain soon. Riot is gaining again after Mara corrected big time. Riot might become the preferred game especially if they have some good news coming. Holding mine for a long time yet. GLA
BLACK FRIDAY ! No wonder Bitcoin plummets. This big shopping day with lots of discounts before Christmas apparently includes Bitcoin ! Wow. A one day bargain basement sale on Bitcoin as well as TVs. Amazing how the sheep line up to get into the pen. The rebound next week ? GLA in the coming months.
OK. Thanks for that. Not an options person myself. I too got the feeling today that all Bitcoin mining companies have been hit down in a reset. Mara seems to have started it. Riot on its shoelaces but others too. Overbought though ? Correction maybe. Manipulation ? IOM yes. GL
Big sell off happening even though Bitcoin is up a bit and holding. Mara getting bashed and maybe Riot being dragged along ? Legal action against Mara but none that I know of against Riot. Get the feeling that we are melded with Mara, up and down, even if all is good at Riot. Anyone with theories ?