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Geniuses are in short supply and I think we might be better off with a fortune teller anyway. Be nice too if the company had some epic news but even that in a complacently minded market would fizz out I bet. Need to see a spurt of confidence and big buying to get this rolling again imo.
Crypto mining companies all seem to be out of favour for now. Is this about fear of the monster stock market crash being predicted by some "genius" ? I would think Bitcoin would fly then and therefore Riot. Let's see if Bitcoin price breaks the next resistance level and where it goes then. GL
Something going on behind the scenes I figure. Still pushing it down even as Bitcoin breaks through $49K again. Like some big merger but the price needs to be around $25 ? Maybe it's market jitters on top too. A waiting game for Bitcoin to run much higher. GL
I am thinking the same. Price is whacked down from pre-market trading prices every day for weeks now and that stops it tracking Bitcoin. Might be something going on which means the MMs have a max target. IF some big news is in the works, this will pop up again especially if Bitcoin keeps rolling upwards. Let's also hope the nail is in the coffin for anymore "China banning Bitcoin" news. GLA
Was there some good news from Powell today ? Not going to kill Cryptos ? Is this why Bitcoin shot up ? More to come yet then I figure. Rest of year could be very good.
Riot is not performing like it should though. The company seems to have gone silent and just running on monthly updates. Maybe with what looks like a better future for Bitcoin will change their strategy now and get active again.
Any investors going to visit the mining facility this month as per the invite ? Too far away for me. GLA
Month manipulation again ? Sure looks that way to me. Doesn't take much volume to keep Bitcoin around a certain price. Options profits depends on this happening. GLA
Long term yeah. Good price to get in. We need to get past the China Crackdown 3.0 (and maybe 4.0) before the big gains happen. How many more times will this old China news hit the price down ? We know already but as we are getting close to month end again, great way to bang BTC down for the options trading. What will it be next month ?
Meanwhile Riot keeps on mining Bitcoin and adding crypto-value. This can only be good if Bitcoin does the predicted surge to $100K. GL
Is the decline in Bitcoin all about the Evergrande building company in China ? They are $300 billion in debt and said they can't make the loan payment this month but it seems they can now. I wonder if their government bailed them out ? I would think this would have helped Bitcoin price. Any thoughts ?
Well so much for the Bitcoin rally. Another correction in the works. For how long this time ? As I see world events unfolding, imo, it could be a short one. GLA
Bitcoin seems to be recovering from the correction. Slowly is good imo. Wild up means crash down like most things. Long term predicters not deterred it seems though. $100k by end of year or spring time. That's just about a double from here so plausible.
Riot needs a kick though. Mining is good for income that is increasing monthly Bitcoin value but it needs a bit more now. Maybe management is just content these days but hopefully not and want to grow this much bigger yet. They have the facility to do so. And maybe a German connection is in the works too. GLA
Too much too soon ? Probably a good thing long term. Corrections needed. Good buy opportunity imo. All up to Bitcoin but looking forward, the $100K price is still on the cards.
This is old news below but from the other side of the deal. Northern Data AG are big owners of Riot. They sold Whinestone to Riot. I get the feeling the share price drop is about something in the wind. Bitcoin price popped over $52K today so Riot MMs will have to be on top of this if they want the price to stay down for some reason, like a deal signing. Who knows but drops like this indicate something. GLA
" Frankfurt am Main – May 27, 2021 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) a leading infrastructure supplier for Bitcoin mining and other HPC infrastructure solutions, successfully completed the sale of its U.S. subsidiary Whinstone US, Inc., which operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain, Inc. (NASDAQ: “RIOT“). The consideration for the transaction consists of approximately EUR 67 million in cash and 11.8 million shares of common stock of Riot Blockchain, Inc. As a result of the transaction, Northern Data AG holds approximately 12% of the total outstanding common stock of Riot Blockchain, Inc.
“Today marks an important milestone in Northern Data’s young history and its ambition to build a versatile multi-site infrastructure network of efficient high-performance computing sites. With the successful sale and the resulting proceeds thereof Northern Data can further invest in its global asset base focused on providing efficient, fast, green and climate-neutral high-performance computing solutions,” says Aroosh Thillainathan, CEO of Northern Data AG.
Greenhill served as exclusive financial adviser, Sullivan & Cromwell LLP acted as legal counsel to Northern Data AG. "
Seeking Alpha said in the bottom of some good news about Riot that Mara is there choice for now for some reason. This is probably why the sell off. Perfect way to drop the price of Riot too. The sheep will follow. I still see this as some kind of deal not bad news or directors selling. My opinions. Long term still good.
Agreed. Something going on behind the scenes I figure but once done, this will be cut loose imo. Handshake deal to start with when Bitcoin price was way lower? Trying to get the paperwork done quickly if that is so. Riot price pressure building now. Wait and see.
Is Riot being traded by MM's to keep it down for some kind of deal in the works ? Sure has that look. Bitcoin is rising and this seems to be anchored and $36 seems to be the target. Bitcoin moved up before their plan perhaps. Might the reason for the latest news about an automatic share offering of up to $600 million. Waiting. GLA
Me too. Staying put.
News release yesterday about automatic shelf share offerings up to $600 million. At first it looks like just a money grab dilution but I believe there must be some bigger plans behind this. For example, maybe it is better to buy existing mining companies rather than more machines which are in short supply now ? This is future quick funding for another big step in growth imo. GLE
https://ih.advfn.com/stock-market/NASDAQ/riot-blockchain-RIOT/stock-news/85952209/automatic-shelf-registration-statement-of-securiti
I see MARA has pulled ahead of RIOT by about $4. The table has turned but they both are holding well with Bitcoin down today. Interesting. The BTC bull run anticipation. I can see Mara owners to swap for Riot if the gaps get wider imo. Ride one, jump to the other. Both are going to do well if BTC rocks in the coming months. GLA
Yep. Options expiring again. This is a monthly event. Riot is now trading below Mara by the way so that might be a good indicator as to what happens next week. Riot should be way over $40 imo so maybe that short squeeze will fix that too. Bitcoin is making a nice base for the next move as well. GLA
Looking good even though Bitcoin is doing the rumba correction. When Bitcoin moves up again and breaks the $50K, Riot should move up very nicely. The financials seem to have hit home. GLA
It looks very good. Might perk the share price up a bit. More and more miners coming on line for the next year as well so the average monthly haul will just keep going up.
Bitcoin still building a floor at $49K to $50K then that $50K price wall should fall quickly. Maybe in a week or two ? I think some options need to expire first.
Totally agree. Hold 'em. BTC has done the consolidation and moving up nicely. I like steady not wild here. But if we get past the all time high in the next month or so, wild is probably back again. The ride to $100K or more probably starts then imo. That's when Riot should explode up too.
Sure be nice to see Riot announce some great financials to perk this up though. Price is way too low imo. In the end, the key is opertaional mining machines. More will be online each month and they have a facility ready for them. Rising Bitcoin price is only half the equation here. We should see triple the numbers from the spring time in the next month or so. Mining haul will only get bigger ! As you say. Kaching. $$$ GLA
Sure looks like Riot is wearing concrete overshoes ! Is this to do with financials on the way ? Held down for another breakout when news is out or is this just about financials that are as predicted ? Or maybe another options deal or private share offering ?
Mara is now higher than Riot, on their financials by the look of it. Both these and others are way below the predictions compared to Bitcoin price. Would have thought we'd be at $50/share now !
Yes. Not tracking BTC again. This has happened a few times before. I get the feeling that it is purposely traded down waiting for a trigger point. Might be the financials coming but perhaps later on when and if Bitcoin runs up again. Sure looks like it close to starting. If that happens short sellers will only add to the frenzy on the next ramp up. This is what big traders want. Wait and see I guess. GL.
It seems many of the Bitcoin mining companies have been hit today. Riot has rewarded its director with shares for meeting goals but that cannot be the reason for the slump for Mara and more. Any suggestions out there ? Shake out tactic ?
I remember your thoughts on this one. I agree. It is longer term investment. Playing it is not something I want to do but if it drops to the 20's I will buy more.
I get the feeling that this is not being promoted at all by the big brokers. They want it to drop I suspect, to gather up more even while Bitcoin is rising. Big sell orders, probably crossing to friendly hands create this look of pessimism. And then all of sudden, wow, this is the one to get into. Frenzy feeding. That is what might happen again soon. In September perhaps. GL
You'd think ! Seems to be being squashed for some reason. Good results and after the market close Bitcoin shoots up to $47,500, still not responding as it used to. Maybe investors afraid this is a trap ? We shall see but if Bitcoin gets going again and breaks the $64K barrier, they will all surely be sorry as they scramble to get back in. That's when the big ride begins. I am sitting it all out and waiting for the $100K+ Bitcoin. GLA
Bitcoin breaking through moving averages. Trend is up by the looks of it. Now to see what Riot's monthly update reveals to us. It should be good. Might see this run up again as well what we are seeing today. $45 again at this rate soon. Is Bitcoin going the $100K by the end of the year though ? Now that would be amazing. GLA
If Mara Bitcoin mining numbers mean anything, Riot should be great as well. We will know in another week or so. And they will get better yet. Just need Bitcoin price to stabilize and gradually move up. September perhaps. GLA
Profit taking and month end hit today. Bitcoin price resistance at $40K for now but that looks ready to fall very soon imo. Germany is about to unleash huge funds into crypto investment. Check out the Forbes site. They are calling it an earthquake about to happen. September onwards I believe is going to be very good. Let's see if this reversal starts in August though. GLA
Sure. But we have a lot of profit taking going on with Riot I'd say. Nervous maybe that this pop of Bitcoin won't last. Might not, seeing as we are still in summer mode. More ups and downs to come.
I find it odd that Amazon is looking to hire someone for Cryto though and then say that cryto will not be used for payments of purchases. To me that is diversion or maybe they are thinking of doing what Elon did with Tesla. Buy a load of Bitcoin and wait it out. That would be good too ! Have to wait and see. GL
A couple of reasons. Looks like Amazon is going to allow purchases with crypto, not just Bitcoin. Elon Musk seems to be happier now that China is not mining Bitcoin anymore (supposedly) where their electricity is considered dirty due to coal generators. I guess it is better in other countries. If the big crypto-mining companies would gradually convert to renewable power, it would be good all around.
My guess is we see Bitcoin break the $40K mark very soon. Up and away so maybe that $100K+ prediction by year end is possible. Be nice to see Riot at $100+ then too. By then a lot more mining machines will be on-line as well so it only requires Bitcoin to keep moving up in the long term. GLA
Hate to have sold short at $28 ! Riot still undervalued at current pre-market of $33 imo but might move higher if BTC price is looking stable again. And maybe large buy orders to cover the shorts. If $40K gets broken that will be great for us holding for the long ride. GLA
Times 10 maybe ? $43 seems more like it as we see Bitcoin finding its legs again. If the predictions of a 6 figure Bitcoin price by the end of the year come true, might want to multiply that again a few times. Enjoy the summer quiet time. GLE
Odd. Riot seems to be tied down. Tries to move up and gets hammered back again. Maybe some news in thw pipe ? Price needs to stay put for that ? Won't be the first time.
It seems Elon wasn't missing for long. Explains the BTC rise. Now he figures you will be able to buy his cars with Bitcoin again in the future. How much did his friends just make on Bitcoin I wonder in just this week ? The ultimate manipulator/influencer and gets away with it.
Was that BTC $29K zone the bottom or is this cat just bouncing ? Looks way stronger today. Maybe the EU news to stop anonymous wallets has something to do with it. Sort legitimizing Bitcoin through the back door.
Just waiting to hear from Elon Musk again though. Tesla supposedly still owns a lot of Bitcoin that he bashed down with his comments. Was that to create buying opportunities ? Did anyone here load up on more Riot ?
If you believe in this down the road, not just a week, then maybe buy more ? We are into the summer doldrums. Might go like this for a couple of months yet I figure but all this time Riot is mining more and more Bitcoin. If the price stays at $30K then ok. Riot makes more and more per month. The risk is Bitcoin plummets down but history has shown so far that it rebounds higher given some time. I would not be surprised if Riot was also being manipulated down for a future run. All my opinions. GL
News update out and it looks great. Onwards and upwards.
Bashed down again. Ransomwear attack on US companies I'd say. When are companies going to wake up and secure their IT systems in better ways ? This is simply about complacency and ignorance to threats. And what about back up systems ? Bitcoin is the victim here as well.
Bitcoin inching up on a weekend. That's different. Maybe next week will continue upwards.
Mara released update showing 17% increase in mining revenue so I expect Riot will be as good or better. S/P should just keep rising if Bitcoin holds around these levels.
Scary news I think for Coinbase investors on the feed. A new company called Strike is saying they are going to undercut transaction fees at Coinbase substantially. I hope this doesn't affect Riot if CS drops. Coinbase is charging 4% fee. Strike will be 0.3% if this is correct. Wait and see I guess. GLE
Seeking Alpha's B Riley has boosted target for Riot to $51. Mara also higher all because of less competition in mining. China's clamp down the reason. So in the coming months the predicted mining numbers might be nicely higher. If Bitcoin does move up this summer $51 is the low end imo.
GLA
If we see that kind of jump, Riot will be quickly touching $50 again imo. Bitcoin is consolidating at the $30K to $40K window building a base so that kind of surge could happen. I think it is only a case of when. GL