The ability of governmental entities to "manage" gold & silver & currencies to dampen down fears is built into the chart patterns of the instruments that trade in these areas. Cryptos are different, IMHO.
All you need to do is watch GDX or NUGT or JDST and you can see behind the scenes hands step in and either buy or sell to send outcomes in the direction that the major worldwide influence peddlers want the "public" to be influenced to believe. The volume in the charts tells the story.
Fact, however, relating to cryptos: because of the absence of middlemen in the picture in peer-to-peer ledger sheets that are decentralized, there is no way for governmental and/or quasi-governmental entities to do to the bitcoin/cryptocurrency world what they can (and do) do to the gold & silver & currency/Forex markets. It is due to the fact that the cryto-ledgers are, by design, decentralized, & as such cryptos are not manageable in the same ways as these behind the scenes players have become adept at in other arenas.
So, as regards MGTI, and a handful of other crypto stinky pinkies.... I believe, (and I could be wrong; I admit that).... anyway, I think that the specifics of the particular stinky-pinky company.... (in our case, MGTI) is less important than the fact that it is a player in this arena at the prime moment of time when the sweet spot in the crypto world is maturing.
MGTI is one of a small handful of stinky pinkies that are regularly generating high enough volume to trade and which have had multiple days recently with a decent percentage daily gain. I trade them. I think that they are not good stocks to own. I look at the entire set as stocks that I can trade on swing trades and on day trades. Simple as that. I'm agnostic about the people running MGTI. I could care less.
Rich people and companies and governments worldwide are hip deep in US dollars that are falling like a rock as the dollar declines in value daily. The exit doors are pad locked by the international control entities. Currency controls. SANCTIONS on this country or that. Blockages constructed to constrict & restrict movement across borders. In this arena, crypto, which are not controlable due to their peer-to-peer nature & their distributed, decentralized ledger sheets, will prosper. Rich entities worldwide will use them in their natural act of self preservation. Simple as that.
Obviously, to the extent that worldwide entities move their dollars into cryptos, the handful of stinky pinkies that purport to be players in the crypto world will benefit.
MGTI is such a stinky pinky.
Thats my read people.
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