The fact that we are no longer seeing miners dump, even though they could book those losses at the end of the year for tax purposes, is very telling. It means that : (a) those entities are non-diversified so they don't have any positive income to claim a loss against (remember, capital income taxes are what... about 15 to 20% depending in some countries); and (b) they are refusing to sell at this price out of either stubbornness or an expectation of higher prices.
So, I'm calling it early... put on your crazy hats... bull market until February... tops out in the low to mid 500s. We all know that this is a dying fad, but, in the meantime, believe in crazy. See you all at $450 this week.
So, I'm calling it early... put on your crazy hats... bull market until February... tops out in the low to mid 500s. We all know that this is a dying fad, but, in the meantime, believe in crazy. See you all at $450 this week.
Swiss cheese imo.
(Plus "we all" know nothing of the sort, yet, but we are going to find out, one way or another)