BTCM: Long term hold
Hello all,
Thank you for stopping by.
After doing some TA for BTCM, I believe we should be on the up and up here. There are a few targets that I have in mind. If we hold the line at 14.69, my following medium-targets are: $18.18 - $21.37 - $22.51.
My long term target is $34.29.
My short/mid-term targets were created using the Fib retracement tool from the high of $35.00 on February 16th to the downside of 13.01 on April 20th. My long-term targets were calculated by the Fib tool starting from the highest point of $52.00 on March 6th 2014 to the lowest point which was $2.61 on December 8th of 2020.
After reviewing some fundamentals, I believe that this company could reach much farther than my TA indicators. This company went by the name of 500.com who then acquired Bitdeer Technologies, including BTC.com. The stock swap announced by 500.com included the transfer of the entire mining pool business of Bitdeer Technologies, including the domain name BTC.com and the cryptocurrency wallet of BTC.com and is occurred this month (April).
This year, 500.com has been busy making moves to acquire batches of bitcoin mining machines after it announced a pivot to the cryptocurrency space in January.
"A total of 100 ETH mining machines are to be delivered between May and June, 300 machines during July and August, and another 1,600 machines during September and December of 2021. (seekingalpha.com)"
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If you ask me, this will be a long-term investment. Set it and forget it... Kinda. Current market cap: 864.59M.
Thanks for stopping by.
Thank you for stopping by.
After doing some TA for BTCM, I believe we should be on the up and up here. There are a few targets that I have in mind. If we hold the line at 14.69, my following medium-targets are: $18.18 - $21.37 - $22.51.
My long term target is $34.29.
My short/mid-term targets were created using the Fib retracement tool from the high of $35.00 on February 16th to the downside of 13.01 on April 20th. My long-term targets were calculated by the Fib tool starting from the highest point of $52.00 on March 6th 2014 to the lowest point which was $2.61 on December 8th of 2020.
After reviewing some fundamentals, I believe that this company could reach much farther than my TA indicators. This company went by the name of 500.com who then acquired Bitdeer Technologies, including BTC.com. The stock swap announced by 500.com included the transfer of the entire mining pool business of Bitdeer Technologies, including the domain name BTC.com and the cryptocurrency wallet of BTC.com and is occurred this month (April).
This year, 500.com has been busy making moves to acquire batches of bitcoin mining machines after it announced a pivot to the cryptocurrency space in January.
"A total of 100 ETH mining machines are to be delivered between May and June, 300 machines during July and August, and another 1,600 machines during September and December of 2021. (seekingalpha.com)"
---
If you ask me, this will be a long-term investment. Set it and forget it... Kinda. Current market cap: 864.59M.
Thanks for stopping by.
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