Guys I would like to mention a couple of stocks to watch today.
1) $MARA ($RIOT) Elon’s announcement yesterday about TESLA accepting bitcoin as a mode of payment for their cars, resulted in the price of bitcoin dropping close to 10%. It was a sudden drop that took the entire crypto market by storm. Tragically, Bitcoin mining stocks price also tanked after hours: a sort of sympathy play. $MARA lost close to $8 in SP within a span of few hours. That’s scary. However, buying pressure rose gradually and some sort of damage control was done. Now as I am writing this, $MARA‘s stock price in pre-market has given me hope of recovery. Let’s wait for the market to open to witness further price action.
With this message from ELON, we can now focus more on altcoins that are using low gas for mining or staking. Because in his Twitter the untrustworthy Mr. Elon Musk mentioned that they will consider low gas coins for their transaction. The crypto community trusts that he is backing Dogecoin to feed his own ego. However, $Doge is also going down and I am happy to see that the market is not his playground anymore. There are other coins also on the list. I will elaborate on them in another post. For now, do remember Elon Musk is the most untrustworthy person in the investment community. Luckily his influence is not very huge when it comes to bitcoin. I am happy about it. In the world of decentralization, influencers like Elon should be neglected. It will happen soon.
I am glad to share the good news about $ABML. They have got permission that we all waited for months to hear about. The city council hearing is on the 16th of June, a day before my birthday. What a present it would be on that day. You will see today, how the price would surge during the market hours. It would be fun to watch. There will be more and more day traders, if we are playing short term we should be careful.
That’s all from me today.
Good luck and play safe.