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The cat's legs are up ! Will BTC go above $35K ? If it does, we might see it go a lot higher. Seat belts again folks. GLE
Bitcoin doing the dead cat roll over or what ? Legs up then down. Has the bouncing leveling it out yet ? Lots of shaking at this price now.
BTC is easily played up and down right now on just a few coins. A buy or sell of 100 Bitcoin sends it flying up or down a grand so volatility is the norm again. Riot is mining BTC through all this so the income must be pretty good compared to last year. Let's see the analysts saying $32K is the new base. GLA
BTC up from last week's close but Riot down. Fear of another correction maybe ? Possible. Short term anything can happen.
BTC recovering very nicely ! Let's see how it fairs on the weekend. Riot slowly recovering but investors very cautious after this recent correction. Understandable. Monday will be interesting. Any bump up will panic those in short positions. GLTA
Could be $50 if you hang in there. BTC might have had its big correction and now shows signs of recovery. BTC volume going down was not very big. Buyers were just standing back to see where it would go. Riot in good shape through this even though it dumped way too much. Maybe they will have confidence to buy more miners now. Or maybe swallow up an existing mining company. GLE
BTC touches 30 day moving average. $32,500 as I see it. Let's see if traders uses this level as a bottom zone for the next positive move. Could go either way here. GL
Sell off in Riot and Mara too big for BTC drop imo but that's how it goes. For me, BTC is building a huge base for the future but needs to stay above $30k. Time will tell. Short sellers having a great day though. GLE
Good news then. But the sell on news thinking hit or maybe not what investors wanted to hear. Like what ? Buy a million miners for $1 billion ? Delivery in 2023 ? Looks like Riot is playing safe and actually have more and more mining machines coming on line starting in a week or so. More each month so good for income. Let's see where Bitcoin goes now. GL
Bitcoin chart looks great to me. Steady average rise and on track if you look at the 30 day period. This should give confidence to what these mining companies share prices should be. Maybe $30 is a good number now. If Bitcoin steadily climbs to $40K again even higher Riot SP imo. And what are they planning I wonder ? GLA
Wow. Another clear out on BTC. Down almost $5000 from yesterday evening. Like I say, always faster down than up. Panic ! The sky is falling. Time to grab falling chunks if you believe Bitcoin is going to $50k next ?
Bitcoin investors not ready to push it over last high of $41K. Pull back might be good thing in the longer term view. Going up too quick always leads to monster fall in most cases. Steady is better. Let's see if this holds or continues down some more yet. That's the way more new investors come on board. Patience is a virtue. GL
RIOT looking strong today and Volume is not very high compared to earlier days. That is a good sign imo. Price rise looks to me like something is coming very soon and if Bitcoin breaks and stays above 40K this time, we should go much higher. Not advising at all here but I'm going to ride this one for a long time yet. GL
Bitcoin really moving. Over $40k today ? And Riot has finally made up some lost ground. New adviser news helped and this guy has lots of connections that can only help the company. If Riot can hold off on that financing to above $30/share, dilution will be very small. They has no debt either and the new machines should be coming on line starting this month. Going to be a great long term run imo. GLA
Riot would be already be much in the green but Mara has left a skid mark resetting both. These two stocks seem to be melded in some way.
BTC up to $36400 now, up $2000 today and Riot not showing it ...... Yet. Might see it ramp up at the end of day. GL
Riot is being dragged down by Mara it seems. Maybe to compensate for its own possible share release ? Bitcoin humming along in $34 to $35K bracket for now but Riot sliding more than I would have expected. Long term view all depends on Bitcoin price.
Already Mara is down $4.70 in premarket. I have a feeling it will recover from this dilution depending on what they use the money for. More miners ? Riot has clearance for $200 million offering as well. Not heard Boo about that yet. What are they thinking ? At these prices, that's only 10 million shares, so a small hit on the float but if that works out like Mara buying those 70,000 miners, well worth it. But everyone wants miners now. Maybe those are the companies to buy shares in. GLTUA.
Bitcoin being played like a fiddle. Doesn't take much volume to move it either way because I get the feeling most in it are holding firm. Not sure where and when the bottom will happen so a roller coaster for now. GLA
Thanks for that info. Charts do look compelling don't they. I agree with the reasons for correction and we will probably see sideways movement for a while as those coins get change hands. Even the mining companies sell to gain currency funding. This only creates a new plateau to move from in the end.
Same issue with all investments. Sell too much at once and you bang the market down or buy too much at once and you create a buying panic. Moderation is the answer but greed overrules.
Read something about UK banks trying knock Bitcoin down too as they it as a threat. Banks are losing their power these days and some are trying to get it back rather than adapt.
GLA in this game.
Thanks but no thanks. Conspiracies abound.
Yep. That is probable. Bitcoin in 24 downtrend. Panic selling with undulations upwards. Not really a surprise. The question is where the new bottom will be. We will need to see higher lows in those undulations with higher peaks to have some kind of confidence. Still, BTC is over $30K ! Riot will be mining coins at that price so a lot higher than last summer. I'm in for the long ride still and I think if BTC gets back to $40K Riot is going be way above $30 because the big fear of correction is most likely behind us. That's my thinking. Let's see what happens. GLA
Well maybe not corrected yet ! $34600 at this time.
BTC has corrected imo. Needed to happen after that constant rise. Seems to be recovering as of now so let's see how it goes. Stabilizes at $36k for a while maybe. Then track up again. Maybe some of the fear to buy crypto companies will ease now too. If BTC holds and slowly moves up I think Riot will take a small hit and then climb again. Miners are making good money now if they have machines actually in operation. GLA
True what you say about the BTC whales. If they dumped all they have it would crash bitcoin but would/could they even do that ? They could never unload it all and not lose. Better to feed it out slowly. But with the state of the world economy dealing with Covid and other stuff, funds are looking for a hedge. Bitcoin and gold for now. The debt from this pandemic is going to be huge. I think we have a ways to go yet before this falls but who knows. Maybe this is the top ? I think another plateau for accumulation.
We live in an odd world these days. I plan to hold for that reason. GL
Station1111. You made money. Glad you got some shares left. Going higher imo. Something brewing because after market has moved Riot to $29. Mara way up too. Might be realisation that both are way under priced considering that Bitcoin is over $40K. I'd have guessed a couple of months ago that we would be over $40/share if that happened. Maybe it's just catching up.
Always big sell offs at market openings as profit takers sell but it has bounced back each time and goes higher if Bitcoin is up. Let's see how Bitcoin plays next week ! GLTA
$41,700+ BTC now !!! It is flying. Riot not keeping up but might do the surge thing later to catch up. Mara is leading it seems. Be nice if Riot had some positive news to boost mining somehow wouldn't it. Like buy the company making miner machines ! That would be cool.
BTC will soon move in thousands of dollars. That $50k target is incredibly close now and then if predictions are to be believed, $100k next. Amazing how much electrons and memory bits can be worth.
Do the research on their financials to find that. It is what they will be mining this quarter and this year that matter. Dramatic increases for sure.
Wild rides today with every cryto company. More to come yet too by the looks of it. Not selling until maybe $50.
Well. BTC over 38K now. Riot underperforming compared to Mara but finally moving up. Bitcoin going to 40K soon me thinks.
$35,600+ BTC now. Riot in doldrums compared to Mara where the eyes are focused for now. Riot way undervalued compared if you just look machines that will be online starting this month. Maybe Riot needs to order 70K machines too ? Delivery in 2022 ? Maybe good idea if Bitcoin goes to $100k and stays there. Waiting it out for more news.
Finally catching up maybe. Pre-market higher right now. Still way undervalued in my opinion with BTC cracking $35,000 !! Lag is probably fear of BTC correcting but from all the predictions out there, the trend is UP. If we break $20 and go higher today, a good sign. Riot probably contemplating some additions to add value very soon I bet. Holding for the long term in my account. GLA.
Yeah I know. Thought I would down play it. More like $50 if Bitcoin goes even to $50,000. Depends what the company has to say in the near term. No doubt the wheels are turning in their office. My guess for what it is worth, better to buy a company that has mining machines operating already rather than try to buy machines. The waiting list for that tech is probably miles long so the delay to get them in operation is way out there. If mining income is important that is.
Just read an article on The Independent website that was posted one hour ago. Here is a cut and paste from it.
"The cryptocurrency is currently trading at around $31,000, having hit a new all-time high on Sunday of $34,000. This is up by more than 500 per cent since March, when it was trading below $5,000, but JPMorgan strategists predict it could rise a further 4.6 times to $146,000."
Can't copy the link out of the MSN Money app for some weird reason so search it on the Independent website for the entire article.
If Bitcoin does triple or quadruple in the next year say, I think Riot and all other miners will go up at least a buck or so don't you think ;)
Pulled back for something in progress I suspect. Pushed down to enable a better price for that cleared financing perhaps. If so, there is something else in the pipe. Bitcoin looks like it is stabilizing again for another run so the timing could be very good. GLA
Thanks for that but this is the second order of machines. Go to their website/news to check the first order back in August.These machines start deployment this month if they arrive on schedule.
The news release headline is:
Riot's Hash Rate Expected to More Than Double to 1.45 EH/s by April 2021 with 15,040 Miners Deployed; Exceeding Disclosed Goal of 1 EH/s by early 2021.
The link is below.
https://www.riotblockchain.com/news-media/press-releases/detail/88/riot-blockchain-announces-milestone-purchase-of-8000-s19
SHAKE OUT in progress. Those who sell at these times miss the ride imo. BTC touching $32K and Riot not showing much gain and was dropping quick today after rising. Moving opposite directions so something is up I figure. Big players ? Maybe the new financing will happen today ? Buy another 40,000 miners ? Bitcoin has been pretty amazing so Riot and Mara need to catch up sometime. I have my seatbelt on and wait it out.
Lots of profit taking on BTC. What a rollercoaster this morning ! Where it settles ? Who knows but it is still higher than on new years eve. Maybe $20 on Riot today ? GLE
You talking about Mara or Riot ? As I understood, Riot machines were supposed to be fully deployed by June/July, some begin this month. Mara will be the end of the year before they get there machines on that huge order they put in.
Bitcoin weekend gains being hammered back now. Weekend madness really when most markets were closed. But a new high was created and this fall back should (maybe) stabilize BTC again. Back to a steadier climb I hope.
$20 ? At least imo. BTC surging again on a weekend!! Looks like $35K target in the near term. Six months ago, if Bitcoin was this price I would have said RIOT should be $35. Who knows these days. More Riot mining machines should be coming on line anytime this month so great for income. Maybe they won't need to offer more shares for funding more machines ? GLA
Anything possible. I see no reason for a Reverse split. It would make it more volatile just like the last one. This is steadier now so for me of more interest to serious investors. But we must remember this is company mining something that is really nothing more than a string of data ! It is actually kind of ludicrous and probably in the not too distant future, people will look back and wonder what hell were we thinking. But you can say the same about cash in a way. A piece of paper, linen, plastic or metal that somehow has a value. You can hold it though so maybe that is why.
And now I see Riot surging upwards to $18.53 at this moment. Keep on mining I say. GLTA and HNY.
Timber !!! $1000 correction on BTC. Had to come so it's kind of welcome I think. It will probably bounce up to new highs next year. Everyone needs to decide for themselves though. Happy New Year All.