Member Info for CaneToad

I am unsure which is manipulated more: Gold or Bitcoin. The manipulation of gold by large players is out of control and basically wrecking the market for a lot of gold investors.

Personally, I'm open-minded about Bitcoin, but not obsessed with it. It's similar to gold in my view - both have scarcity and are expensive to mine. I think the earlier Kitco video that I posted sums up the situation well, from the perspective of a gold investors. That bitcoin is like a digital gold.

Watching Gold at the moment, seeing it turn down again on a whim is why it's started to lose some of its shine. Its performance has been abysmal and I'm starting to get sick of staring at red on most of my (large) gold mining positions (CEY included), while I'm making a small fortune on my bitcoin mining ones...

@Squid: "Bitcoin is tanking, gold is flying.."

Year-to-date:
=============
Bitcoin: +378%
Gold: -4.7%
=============

(source: https://tradingeconomics.com/)

@drlong: You do like sitting on the sideline! In the meantime, it's been a superb trading week on all the miners, including ARB.

Textbook BTC pullback playing out, with all the miners following it down as you'd expect. Could be a nice opportunity to start a new trade if if pulls back enough.

@bonker99: "NOT a good look for BTC to be bombing again when Gold is flying"

Year-to-date:
=============
Bitcoin: +378%
Gold: -4.7%
=============

(source: https://tradingeconomics.com/)

I'm wondering if Gold is going to surge now that Russia and China have been buying so much...

I found this interview refreshing, in that it's from a precious metals investor:

https://www.youtube.com/watch?v=LCM6YnCpdlE

I just did a quick review of this and the incredible thing is that the business itself is looking great; everything sounds positive. DPO is starting to add revenue/profits, while technically, the past 5 days have been green. But we see a continued increase in the shorts!! I don't get it. Unless they know something that I don't I can only think that those 'shorts' are to facilitate longs.

The entire price action looks to be manipulated. The best we can do is ride on the back of the manipulators or be prepared to wait a very long time until they let it rise.

That dump is clearly some organised criminals fiddling the Binance order book. Nothing to do with the general market, but is exactly the thing that Gary Gensler will want to stamp out. Will have major implications, even though it already happens in the SPX futures markets.

Gary Gensler is going to be on the war path after that. Would have been nice to have had a buy order down at $10k

I thought the BTC drop to $54,100 was big, until I just read that it dropped to $8,200 on Binance !!!!!!!!!!!!!!!!!!!!!!!!!!!!

https://markets.businessinsider.com/news/currencies/bitcoin-price-crashed-87-percent-8200-binance-us-crypto-platform-2021-10

Blonity also has a good discussion of today's BTC flash-crash / "whale attack"

https://www.youtube.com/watch?v=9VE3hOiBNiU

ARB is up and all other miners are down (as at 15:26 PM)

Unfortunately the French fund hasn't gone live yet and the Invesco version ('SATO') is not seeing much volume. It's a few $m compared to more than $b for the futures ETF. Maybe it's down to marketing, who knows.

https://www.youtube.com/watch?v=9VE3hOiBNiU

@Steve: "5years of holding cryptos with a small part of portfolio has massively outperformed anything by a country mile- taken out already 3 times my original investment and still the biggest profit- my only regret"

Likewise. I used to actively trade gold miners (Shanta, Centamin, Barrick, etc. etc), but my profits from trading BTC- and BTC miners has been an order of magnitude bigger.

I'm still very keen on gold, but there is no doubt that the balance of interest has shifted away. BTC is now a bigger currency than the Swiss Franc, while highly respected investors, including George Soros, Paul Tudor Jones and Ray Dalio are all holding a small amounts of BTC.

I used to think that BTC had no value, but that's a flawed way of thinking. All commodities and currencies only have value given by the market. There is nothing supporting the price of gold except sentiment for it. If that sentiment continues to drop, we're in a lot of trouble holding shares like CEY. I'm hoping that as the paper gold from the derivatives market is replaced with real gold that the price will surge, but that's becoming a big gamble - just as risky as investing in BTC.

@2phevs: "buyers and sellers cane"

True, but lots more selling than buying or the share price wouldn't have fallen ~16% ... I'm positive about TGP and I'm holding this one long-term, but am cautious, given what happened last time an institutional investor trimmed their holding.

Good luck.

@TSSZ: "Chart is already showing uptrend the best time to buy was 2 days ago"

That now looks like it was a bull trap.

I like this company and I have a wad of their shares, but I'm standing back for now. I've no idea what's driving the fall. Maybe the Boohoo/ASOS supply-chain woes are scaring PIs.

There are some BIG sellers appearing on Kraken. BTC-USD wicked down to 54,100. Bounced back almost immediately.