RE:RE:RE:Good time for accumulatedOne of my cousins works at Coinbase and he said that in addition to mt Gox which i raised that Germany was dumping a large amounts of crypto as was Japan if i am not mistaken. There has been a lot of downward pressure on crypto due to things like this plus the high inflation rates. Having said this as the dumping continues to get cleaned and mopped up and there are rate cuts not only Canada and Europe but also in the US many stocks i suspect will start to surge.
Whales are definitely buying up crypto and crypto stocks betting on stronger currency values especially looking at btc. There are some really aggressive prices for 2030 but the one i strongly believe is the most viable is $80,000 per bitcoin. It isnt worth selling anything right now unless you are cutting losses and either repositioning in other holdings, taking money out of the market or ideally taking profit.
This year remained a fairly tough one although people are saying stocks are surging of late which they are however many are non pennies for clear reasons one being the solid established companies and those with dividends are more stable the pennies seem to be lagging but as the market keeps improving it is likely many stocks across the board will move from predominately bear to bull.
I strongly believe this will break above .20 at some point in the last quarter despite tax loss selling. The news releases have been quite good and yes it is frustrating that the share value hasnt reflected them at least to any degree and length. As far as i am concerned speaking as a lay non qualified person this shouldnt be less than .20 but vecause it is it is otherwise "cheap" many pennies are.
By comparison my divie paying bank stocks are rexently surging one which i held for quite some tike CIBC and that was being pushed down for quite some time despite every quarter beating expectations it is finally starting to move fairly and one i just recently bought BMO US Banks Covered call initially at $20.64 then added a bit averaging $20.68 it is now about $23. I bought it no more than a month and a bit ago.
It is really good news to see the blue chips start to surge the pennies will start to as well many of which are trading at 20 percent their value some as low aa 10 percent so sadly the majority have been garbage and while some surge and others do not the feeling sentiments are always the same until they do which is exactly what you expressed. Great time to buy hold and flip when the surge happens.
If i remember correctly the financiala have been quite solid no debt and a decent balance sheet so really despite the "dead money" a more positive way of seeing is the price is stable within the .16 to .17 range predominately and should start to move up as the dumping of crypto as mentioned in mopped ans cleaned up and the US cuts interest rates it should happen September and some are also saying November and December as though up to 3 this year but i think it wilk most likely be 2 at best one for sure although so far the Bank of Canada made two quarter percent cuts already possibly a third will come in the last quarter. I dont think the US will not cut in September and when that cut comes the stocks are likely to pop.
If Trump wins the election i also strongly believe the stocks will enjoy the Trump Bump as he is still seen as a credible business man and better for the economy i am not too sure about that as he was interfering with arrangements that was working for certain US states and Canadian privinces where the Governors were seeking to do their own thing while trying to rebuff Trumps saying the US is getting ripped off by Canada. Thats news to me aa it is typically the other way around lol.
In any case, there is more upside to stocks overall than down not worth trading out better to hold and wait a bit for the rates to start getting cut some more and in the US case initially and thereafter.