Thread by @KingKong9888

Thread 🧵

Some of my followers might know that I invested in #BTC miners in 2020-2021. I would like to share my story and use this as a reference as to what might happen to Gold & Silver miners going forward.

I invested invested in #BTC miners early in 2020. At the peak, my paper profit in #BTC miners exceeded 4 million USD. Unfortunately, I rode them the way down to the middle of the mountain. I got out netting a couple hundred thousand USD on these #BTC miners investments.

We will use a #BTC miner I owned as an example:

Between Sept 2020 and March 2021, Riot went from $2.5 to $80.

1. Riot dropped from $4 to $2.5 while BTC went from $11K to $22K during the same period Aug-Oct 2020. Everyone were saying WTF and many people sold. Turns out this was the first accumulation phase by hedge funds.

2. Riot went from $3.5 to $30 while BTC went from $14K to $42K. My broker showed be the big positions the hedge funds have accumulated during this time.

3. In the middle of Jan 2021, Riot consolidated form $30 to $15 (many small investors sold). On Feb 5, it started it final push first back to $30, then to $80. The move from $30 to $80 took only 3 days.

I believe that Gold & Silver miners are at $4 Riot right now. There will be lots of sell offs along the way but you have to be patient. My understanding is that most Gold & Silver miners currently have very little free floating shares in the market.

Maybe some smart money (Funds etc) is accumulating right now but they are not in a hurry because there lots of scared cats small miner investors who are selling right now or they might just be taking profit because they bought some miners at the bottom in 2021.

Eventually, the cat will be out of the bag and smart money will need to accelerate the buying of Gold & Silver miners. That’s when you get the first 5X - 10X upswing. Most Gold & Silver miners have pitiful market caps which means there is lots of room above.

The lesson here is - be patient.

THE END