The recent selling (this morning) of BIT is troublesome, few big wheals are selling at ATH and by the dip, again and again. therefore, logically speaking one can assume they will do it again.
In one of my older post in RIOT, I mentioned that I've observed that BIT miner stocks are losing steam when BIT hit ATH. One of my suggestion was that as the asking price for RIOT and MARA are now very expensive, people are moving to cheaper miner stocks.
Subsequently, all miners (RIOT,MARA, CNET, Sos, XNET, EBON, 9CITY, CANAN etc) have moved to "ATH", but followed by a rapid and substantial crash as we are so familiar with by now. This is was when Mara and RIOT drop to 17 (when BIT was at 42K), the most recent one was 28 for Mara.
Right now, I am waiting for BIT to get to 65k (not even 80K), as well as RIOT and MARA earnings. However, once again the same scenario could be repeating: sell high and buy low. So do expect MARA drop around the green line.
Nonetheless , as long as BIT is above 40k (and please correct me on that number), I think mining compagnies are/will make some good profits. Hence justifying their highly overvalued stock price.
I am in since 2.50 so I am ok with it. Not adding or withdrawing, just waiting; however folks out there with riskier price should beware of this... that's all I am saying.
In one of my older post in RIOT, I mentioned that I've observed that BIT miner stocks are losing steam when BIT hit ATH. One of my suggestion was that as the asking price for RIOT and MARA are now very expensive, people are moving to cheaper miner stocks.
Subsequently, all miners (RIOT,MARA, CNET, Sos, XNET, EBON, 9CITY, CANAN etc) have moved to "ATH", but followed by a rapid and substantial crash as we are so familiar with by now. This is was when Mara and RIOT drop to 17 (when BIT was at 42K), the most recent one was 28 for Mara.
Right now, I am waiting for BIT to get to 65k (not even 80K), as well as RIOT and MARA earnings. However, once again the same scenario could be repeating: sell high and buy low. So do expect MARA drop around the green line.
Nonetheless , as long as BIT is above 40k (and please correct me on that number), I think mining compagnies are/will make some good profits. Hence justifying their highly overvalued stock price.
I am in since 2.50 so I am ok with it. Not adding or withdrawing, just waiting; however folks out there with riskier price should beware of this... that's all I am saying.
Comment:
It is almost the green line folks!