$Bitcoin (BTC.CC)$ if you reference my comments yesterday I ...
$Bitcoin(BTC.CC$ if you reference my comments yesterday I stated that if you were wishy-washy and you didn't know what to do and you're in for the short term that you probably should take some profits because I believe that we could give up about half of the gains in the next two or three sessions
64,287 is where I'm seeing the short term profit taking ending and the upward trend continuing.
it is not an exact science and we came within a couple hundred dollars of my target today so maybe this is the upward trend I'm not certain because sadly my crystal ball has been in the repair shop for 35 years they keep telling me any day now it's going to be fixed.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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Ben Buttons : is it same repair shop Hunter left his laptop at?
intellectual Sheep_2 : you are?
10baggerbammOP intellectual Sheep_2: is that a question or would you like to rephrase that somehow
Salmon Klein : you think bitcoin is not going to be halved in price? i read, no sure if true, that US government isn't much inetrested on having a bitcoin, though they hold a great amount of it. so, I am interested in Coinbase and Mara...if Bitcoin is coming up, shouldn't they too? or better to buy an bitcoin ETF?
10baggerbammOP Salmon Klein: having has to do with the quantity that is available to be mined it is reduced by 50%. it does not mean that the price is cut in half as in a two for one split. as for mining companies I'm not a fan of them they do trade higher they do mirror bitcoins movement however stupid people buy garbage companies all the time and my philosophy behind not owning the mining companies as follows. the mining companies have to double quantity of Bitcoin mined in order to have flat top line revenue so they need to have 100% increase in mining of Bitcoin in order to have flat revenue why because the quantity available to be mine is reduced by 50% and everybody is chasing the same thing. if they are only able to mine half as much Bitcoin based off of their overall efficiency of operations last quarter versus this quarter then the price of Bitcoin needs to go up by 100% in order for them to have the same revenues either way we all know the cost of electricity is going in One direction up which means cost of operations are going to increase squeezing their margins making their profits decline so they have two headwinds facing them and quite frankly you see what happens to companies in the market if the revenues fall a penny short of expectations if the earnings fall short and if the forward guidance falls short companies are taken out behind the barn and shot so I have no interest in owning the mining companies despite the fact that they can have some enormous upside movement. and I have traded riot and Marra and clean spark before but I'm stepping aside and I'd rather own bitcoins leveraged ETF BITX.
Salmon Klein 10baggerbammOP: thanks for the input. i meed to start reasoning in that way to understand how bussiness work much better...still no vision at all hahaha i just understand numbers