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What a ride since yesterday. Topped at $52.8K but the air got let out of the balloon before the opening in N America dropping it 2 Grand. Where will it go now ? Volatility returns. Fun times soon.
BTC is the real driver of Riot. Charts of Riot don't mean much imo. It is what Bitcoin does in the end but Riot seems to move much quicker in relation to BTC. This is why the big numbers should come quickly. Like Bitcoin hits $65K and Riot might hit $90.
BTC now at $52,400. Looking good to break that all time high but you never know. Might see another small correction first. Long term for me. The big ride awaits imo. GL
BTC has broken above the $51.5K level which should mean clear to go higher. Next one is the last all time high around $58K. If that gets broken, up it goes again to who knows where. Riot should do well today if this holds up. Might see $52K or more today once America wakes up and panics to get in.
As for Riot, it gets pull along but amplified and more miners should be arriving soon too ! All good. GLE
Quite the change today from last week. Mostly good news helping BTC price and hopefully this is just the beginning of another surge upwards.
Right now, Bitcoin is pulling back a bit from the high today. Does this most days it seems at lunchtime. Pulls back and then usually rises as the food, wine or beer settle. But Riot is not pulling back so much ! It is holding up well so this is a great sign for things to come imo. Holding. GL
And then there is this news on Bitcoin.com
"Shark Tank's Kevin O'Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio"
Well this guy hated it a month ago ! It seems that everything has changed. Mutual Funds. Kevin O'Leary. Who is next ? Yellen ?
The week end massacre has all but been washed away at this time. Up from here or flat for a while ? Only so much supply of BTC and no more will be "printed" so demand vs supply would indicate up eventually. Maybe this summer or autumn we see that $100K BTC. Then Riot should be over $100/sh. Speculation yes but previous history points that way. GLE
Might be another double soon. BTC bouncing back and wonder if this is why:
"Stone Ridge's Open-End Mutual Fund to Invest in Bitcoin — SEC Filing Opens the Door for Other Mutual Funds to Add BTC"
Anyone else see and read this news ? If this is true and happens, loads of funds are going into Bitcoin. New highs coming. GL
BTC has hit the 30 moving average and undulating. If that was the bottom, then do we go again ? Seems like it might at this time. It is the weekend though and Bitcoin price is as usual moving wildly. Small volume has big effects. In another 12 hours the trend might be determined. Wait and see game. Elon might just have sped up this dip and got it over with ! GL
Still hanging in there. This BTC and therefore Riot dip was another correction in just one of many to come as this moves up again. Overall the trend is up because the supply of BTC is less and less. I agree that Elon sort of set a new bottom on this too. Maybe we will see more major buyers jump in pushing the base up higher and higher. GLTU
Major reset. $44.5K BTC. Elon Musk got his wish !!! Almost back to where Tesla bought in.
Price is just about to touch the 30 day moving average so which way does it go from here ? Trend is up but the correction might need longer yet. Or maybe Elon buys another billion or two.
This appears to have started because the creator of Bitcoin might be revealed it is said. That would hurt the price they said. Well just those words hurt the price and so who is he or it.... Why would this happen when the million or so coins held in that account is virtually unsellable unless done over many years. Does it really matter who anyway. Seems so but as usual in the fickle markets, a great way to create panic even if it means nothing in the end. New buy level if you think long term. Bitcoin is not just going away imo. GLA
What is the float on this Bfarf company ? 500 million ? The price is way too low if they are mining like that.
As for BTC. Anyone else notice that the price is manipulated down during US trading hours and then manipulated up after it closes and then on into Asian hours ? Building a base again around $48K to $50K ? Time will tell.
Yes and others. And Bitcoin just got wacked again down to $49K. 100 coins hit suddenly so goes to show how easy this is to move if you have many to sell and other side, 100 coin buy sends it up a grand. We are but pawns in the game. Where to today ?
Square has bought more BTC. Other big players too so BTC recovering from the Musk comments. In fact, the correction is good. Lots of smaller ones along the way $100K would be good too. Riot bouncing up very well in pre market and now new holders on board so also good for future move upwards. Just a matter of time and patience if you are in for the long run. GLA
Powell wants to keep interest rates low. That does help BTC and other investments.
I see Tesla has also tanked as it is kind of linked to Bitcoin now. Lots of Tesla investors not happy about this happening I bet but others will like it. Maybe BTC closes over $50K today ? Depends on how North America reacts to the drop. Panic and sell or Buy more.
RESET !! Musk hit the red button. Back to $45k BTC in a matter of hours. FOGS not FOMO. Fear Of Getting Screwed. Bouncing back at this moment in time though. $48.5K. Margin calls were supposed to be the cause yesterday and if so, again today. Can you actually buy Bitcoin on margin ? That is insane if true. Like reliving the 1929 crash. Where will it settle down is the question.
Glad I had my seat belt on ! BTC dropped 10 Grand from it's weekend high of +$58K and hit $48K a little while ago. Rebounds to $53K soon after. Wow. Glad I don't get air sick. Needs to find a settling base again before next move up. GL
And a bit more ! Musk created a panic sell off today but I expect it to rebound nicely afterwards. Opportunities for those wanting in as I expect Riot to get hit at the beginning too. Always over reactions as large holders get out and later regret it but then they create the opportunities. It's a game that some find too hard to deal with. I'll just sit tight for the long run. GL
Weekend BTC ride up cancelled by Elon Musk. His words of it being a bit high has helped in the correction but to be expected anyway. Too quickly up and then it falls back. Normal. Long term though still ok imo. Chart looks great. I wonder if Musk will be buying again soon ? SEC will be all over him if so. GLA
Station1111. It was more than profit taking imo. I'm guessing the downturn on Thursday and Friday as "arranged" shall we say. It happened back a few years when they sold some millions of shares at $22. It was higher before that and suddenly pulled back over the day. Brokers playing the sell price down to get what they wanted for a lower offering price then. Right after, it shot back up even higher probably with heavy promotion on top then. If my guess is right, this is the same scenario. It should pop again especially with BTC moving up.
Crazy weekend prices again but it is the weekend ! Monday to Friday is really what counts but if it really moves up by Sunday evening it might create a buying frenzy. Riot over $80 then I agree and maybe more. What a ride so far ! GL.
Held back today? My guess is the company raised the $200 million, cleared with SEC months ago, by selling shares. The SP needed to come back down though for this to happen because as we know ...... greed rules. Why buy at $80/share when you can pull it down to $70. After the deal is signed at market closing price or less, take the boot off and let 'er go. If this is happening, dilution is hardly anything. Less than 3 million shares added to the float and $200 million in the bank. Win Win deal imo.
What to do with money if so ? Buy their own electricity system ? Renewable solar/wind with battery backing for night times would be good. Part of Elon Musk's business makes these systems and a huge one is working in Australia. Electrical demand from crypto-miners is an issue so why not ween off the grid this way. Imagine if this company was set up in Texas right now.
All just a guess. GL
That would set fire to things ! Riot SP being whittled down each time BTC shows a down trend after a huge rise. BTC up over $2000 and Riot almost back to opening SP. Sure looks like price being controlled to me. After the close and option expiries, we shall see what happens. Looking long term, all good so far. GL
Short sellers take huge risks on this one these days. Must be some big player Put option holders out there too. Riot looks like it is being held down until those expire. Seen this happen many times so far.
BTC just short of $55K and looking good for future rises with corrections along the way. Might be smaller corrections with more huge players getting in. They will tend to moderate it IMO. Let's see how this closes today and then glimpse at the usual BTC bumpy ride on the weekend. GLA
POP ? Massive selling. Reason for this hit anyone ? Probably the financials leaked before we get them. Sure they will show lower numbers than the SP has been indicating but that's kind of normal. The recent machines installed have only just started to mine as well. It's the future quarters that will show this so it's a long term thing if you think BTC is going to $100K or more. GL
BTC slowly waking up. Maybe because Blackrock has said they are going to dabble in Bitcoin ? More will follow in the near future.
Bitcoin is having a rest so far today.
Needed a bit of correction after the last few days. Long term still looks great though.
Riot went a bit crazy in after hours I see. HIt $84 briefly ! Panic buyers afraid of missing the ride. They can jump in lower today if they want more. GLTA
After a 4 new for 1 old split, I can see $30 again. Or if BTC drops to £20k again. I don't think Elon Musk will let that happen now. GLE
News out yesterday.
CUSIP No: 767292105
Dated: February 10, 2021
SUSQUEHANNA SECURITIES, LLC
The brokerage company above has revealed that they own at least a 5% stake in Riot ! How many others are loaded up and tightening this stock float as well I wonder ? This only helps move Riot higher relative to Bitcoin. They are looking for much higher gains I believe.
Bitcoin broke the $51k mark. Elevator up seems to be steady so far. Maybe that $100 target on Riot is not so far fetched. GLA
Real value of Riot showing now. Went over $61 and BTC is 49,300 or so. Wait until BTC settles after it hit the $50K target. Might take hours or days or maybe a week or so but I think it will happen. Too many big players getting into Bitcoin nowadays. GLA on this ride. Hope it keeps going.
BTC is currently over $50,000 !! The wall of a few hundred coins at this price got eaten through very quickly. Riot popped over $58 at this time, might go higher later. $60, $65 ? It has actual mining behind it unlike others who have machines on order so potential is extremely good as more machines go on line in the coming months. At these BTC prices, the sky is very blue imo. Looks like the $63,000 BTC price is the next target. WOW. Unbelievable ride on this stock. GLE
We all would like an over $50 close and then $60 all the way to $100 ! Depends on BTC activity and those getting on board. Maybe BTC pops over $50K this weekend in its usually roller coaster ride when the markets are closed. That might set the stage for next week. Great weekend everyone.
Glad you held some station1111. It is like free stock now. Watching the price of BTC today looks like a circling shark ready to attack the fence and break out. Undulating ominously.
Riot has an extra leg up on just the bitcoin price as well. Like yesterday, announcing 2000 more miners coming on line. That alone moved Riot up about $4. They have more and more arriving through the year so each time they announce new machines going on line I'd expect a nice bump up in price on top of any bitcoin gives.
I'm also hoping the company isn't cashing in all the bitcoins mined. They have become an asset. Unlike Tesla and Mara buying bitcoin, Riot is actually mining them more and more, day by day and cost to do that is very low.
If BTC keeps moving up, that $100 target is not so unbelievable I'd say. Speculation yes. But just look at what is going on lately !! GLTUA
BTC hammered down just 10 minutes before market closing. Something to do with options trading prices ? ;) Riot started to pull back before Bitcoin began to fall back so I'd say definitely a planned price drop before expirations tomorrow. I expect another bump up after this "correction". $50k soon and more. GLA
NEWS OUT. More miners coming on line this week. Hash rate up again and will keep going up thru the year. Mine baby mine !
BTC just hit 48,000 ! Going into orbit with Space X and Elon driving it. Riot hit $43 ! Hope they are holding some BTC that they mine.
Where to today ? Wild ride before the opening. I bet some big sells right at the opening bell. Drops price and then up again if BTC still holding or climbing. If these guys would sell less at a time we'd all benefit but it is not way. Might need to strap in soon if Tesla if followed by other companies. GLE
Correction in progress so more buying opportunities available. Let's see how BTC rides now with big players on board. More to come perhaps. Riot went over $41 yesterday. They must be mining $$$ like crazy seeing as their cost is like $4000 per coin if I remember correctly. They are very quiet lately too. No need for the financing clearance because they have more and more mining machines coming on line. I wonder if they will cash them for US$ or just hold the BTC sort of like Mara buying BTC ? Win win then I think if Bitcoin does the next surge to $55,000 or so. I am still holding 90% of mine. Waiting for BTC to bottom again now. GLA
Might get to $50 ! Just need the buy rampage into Bitcoin. Elon Musk bet part of his "farm" on it so that changed the game for many waiting in the wings ! I would not be surprised to see him or his companies invest more in the future. That one guy can literally make this move if he wants to.
Big sells of Riot at the opening. Profit taking and to be expected. I sold 1/10 of mine. Could buy a nice new car but why ? No point yet is there in this Covid world. Reinvest it probably. Good Luck to the longs.
Anyone left here ? Quite the day for BTC. Tesla buying $1.5 billion of Bitcoin and soon to allow purchases with Bitcoin too. Riot and Mara are not really moving so much though compared to what Bitcoin has done today so far. I think prospective investors are scared right now. If the BTC price holds and moves higher though, they will flock to these stocks and others in time. Just my opinion of course. GL everyone ..... if anyone is here.
Yes. BTC hovering over $40k today. Will it hold on Monday morning ? I believe it will dip and pull back over $40k. If it breaks $42K it is away again and analysts projections say perhaps $56,000 or even $63,000 if you believe them. If that happens Riot will move up of course but where to ? Anyone's guess. GLA
Quite the change in Bitcoin since Elon Musk touted it over a week ago. Brought BTC new life and it sure looks good at this time. I see lump sellers of BTC are quickly countered by buyers so that means confidence imo. It cracked the Elon run a few hours ago so the next target is around $39,700. Then the $41K all time high. If that happen ..... TBD
Riot management has been quiet through all this ride though. Just sitting back and letting Bitcoin do the work maybe? GL
Well that didn't last long. Looks like BTC was manipulated for that big rise in price but sentiment seems to say it was not sustainable. Probably helped some big players to unload their bitcoin today to maybe buy again at lower prices.
BTC surged above 30 day moving average. It broke the bear trend going above $35K imo so there will be a lot of analysts wondering what to do. Now we see what the new trend is going to be. Weekend might see this go mad over $40k. In February new highs ? Riot underperforming so far as investors are scared this is all just bubble in a bubble. They will meld and make it bigger in the end imo. GL.