The Bac0n Diaries Part #27 The Bac0n Diaries Part #27
Date: 19/05/2021
Closing Share Prices:
HIVE - $2.86 -8%
RIOT - $24.14 (usd) -6%
HUT - $4.83 -3%
BITF - $5.06 -4%
Comments:
What a week eh gang! im sure you guys are concerned about losing your 200 dollars that you have invested, hang in there!
unsurprisingly HIVE closed below $3 and had the biggest losses at -8%
alright down to business, a few things I need to clarify for the mouth breathers.
Nasdaq Listing
1. BITF has been approved for a NASDAQ listing, but is still waiting on an official listing date, that could come any day now, or as late as early June. times vary 2 days - 4 weeks.
2. HIVE finally did file its 40F form, so looks like they actually did something other than lip service for a change, however do not confuse a 40F filing with a guarantee of approval for NASDAQ listing, that is still to be determined. And even if HIVE does get approved (BIG IF) unlikely that it will be approved for NASDAQ Global (like BITF) more likely NASDAQ Capital.
Bitcoin
Elon
Well! old Elon sure hammered us hard this last week, he tried to make up for this morning with a diamond hand tweet, probably helped but the damage he has done has wiped 30% off of Bitcoins market cap. so hes dead to me personally.
China
China has a very love hate relationship with Bitcoin, they are pumping up their own digital currency issued by their central bank. and Frankly they should be, I wouldn't mind holding some of that digital currency when its made available.
The US dollar is crashing and burning because of our own stupidity, no its not the goverments
fault, its not the fed reserve fault. Its our fault, for growing complacent and obese while our country gets raped and pillaged. So blame yourselves.
Inflation
Inflation numbers are HUGE in both Canada and the US, in my opinion this is being downplayed massively by the FED.
They will have no choice but to raise rates (even though they said they wont until 2023). They won't be able to control the rate of inflation otherwise, so watch for that.
other than that, only suckers are selling right now. This bullrun isnt over its just a major correction due to a whole host of issues slapping bitcoin in the face at once.
dump HIVE, buy BITF, HUT, MARA, RIOT
Sign Off:
"Bitcoin has no top, because fiat has no bottom"
-Max Keiser
*puffs cigar*
-Bac0n
this is not financial advice, do your own due diligence