Neptune Digital Assets Corp V.NDA

Alternate Symbol(s): NPPTF

Technology Software - Application

Neptune Digital Assets Corp. is a Canada-based blockchain company. The Company is engaged in the business that builds, owns, and operates digital currency infrastructure assets. It provides cryptocurrency and blockchain infrastructure with operations across the digital asset ecosystem, including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated blockchain technologies. The green Bitcoin mining is focused on using renewable energy, such as solar, hydro, and wind to power its Bitcoin mining operations. Its staking cryptocurrency is the process of validating transactions. The staking involves running software nodes or validators where Neptune is responsible for storing data, processing transactions, and adding new blocks to the blockchain. DeFi removes central controllers and brokers, which facilitates faster and cheaper transactions with no minimum transaction amounts, no paperwork, full transparency, and auditability.

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Neptune Digital Assets Corp > Bruce Kamich: Buffett and Munger on Bitcoin: Just Say No

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Comment by CriticalMind55on May 04, 2022 11:53am

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Post# 34655234

RE:Bruce Kamich: Buffett and Munger on Bitcoin: Just Say No

yanster2419 wrote: https://realmoney.thestreet.com/investing/buffett-and-munger-on-bitcoin-just-say-no-15985531

Buffett and Munger on Bitcoin: Just Say No

Here's what you should be prepared for.

By BRUCE KAMICH

May 02, 2022 | 01:44 PM EDT

At the Berkshire Hathaway (BRK.A), (BRK.B) annual meeting this past weekend in Omaha, shareholders and analysts learned that the iconic investment company reported EPS that was down 51.5% year over year even though they were better than analysts' forecasts. The share price was lower this Monday.

CEO Warren Buffett and vice chairman Charlie Munger fielded questions for about five hours. Munger took a question about Bitcoin and responded that "When you have your own retirement account, and your friendly adviser suggests you put all the money into Bitcoin, just say no."

Later on, Buffett weighed in: "Whether it goes up or down in the next year, or five or ten years, I don't know. But the one thing I'm pretty sure of is that it doesn't produce anything. It's got a magic to it, and people have attached magic to lots of things."

Let's check out a few charts.

In this daily bar chart of the Bitcoin futures, below, we can see some subtle clues. Prices made a peak back in November and declined into late January. Futures steadied the past three months but trading volume did not increase and the On-Balance-Volume (OBV) line has moved sideways to lower the past three months.

That tells us that sellers of Bitcoin futures have been slightly more aggressive than buyers. The 12-day price momentum study is not showing us any divergences to help in our analysis.

In this weekly Japanese candlestick chart of Bitcoin futures, below, we can see what I consider a bearish picture. Prices are trading below the cresting 40-week moving average line. The weekly trading volume has slowly declined from early 2021 which I find "interesting" despite more and more people and institutions recommending it.

The OBV line shows a decline from November telling us that sellers of futures have been more aggressive than buyers. The trend-following Moving Average Convergence Divergence (MACD) oscillator has been below the zero line in sell territory since January.

In this Point and Figure chart, below, we used a series of data of the cryptocurrency. Here the chart suggests a downside price target of $33,000.

In this daily Point and Figure chart of the Grayscale Bitcoin Trust ETF (GBTC) (which solely and passively invests in Bitcoin), the chart shows a $21 price objective.

Bottom line strategy: While Buffett and Munger would recommend total avoidance of Bitcoin, Buffett's comment about "magic" suggests he believes it is all just sleight of hand. I would be a short-term trader if you put a gun to my head. Keeping that in mind, I would avoid the long side and be prepared for lower prices in the weeks ahead.