Bitcoin’s (BTC) rally above the $10,000–$10,400 zone has called back a number of well known traders who had been waiting for a trending move to start before making the jump back in. Bitcoin (BTC) started an CPR uptrend shortly after breaking out of the $10,000–$10,400 resistance level on July 27. This move also completed the inverse head and shoulders pattern, which has a target objective of $17,290.00~
Hard hitting new commer, Marathon Patent Group, Inc. (NASDAQ:MARA), which is now known as one of the limited number of Nasdaq listed cryptocurrency mining companies, announced the purchase of 700 next generation M31S+ ASIC Miners from MicroBT. The miners are expected to arrive mid-August, which was stated in a recent press release.
Marathon’s Chief Executive Officer, Merrick Okamoto, stated,
“In the past few months, we have heavily invested in our business through the purchase of now 3,020 next generation miners. We currently have 700 M31S+ miners operational producing 56 PH/s.”
“Upon delivery and installation of the 1,360 miners due to arrive in August, the company will have 2,060 Miners operational, producing 184 PH/s. As a result, the Company’s aggregate hashing power capacity would increase by 320% from the current level of 56 PH/s. Based on current Bitcoin prices, the company would expect to become cash flow positive.
Additionally, Mara recently Hit a 3 part CPR Buy upgrade as its Short and Medium term indicators hit BUY status across the board from the recent surge in trading volume. From this, traders could see a return to the previously tested $4.00 trading resistance levels, which the stock failed to break back in mid 2019.
|Short Term Indicators|
|20 Day Moving Average||BUY|
|20 – 50 Day MACD Oscillator||BUY|
|20 – 100 Day MACD Oscillator||BUY|
|20 – 200 Day MACD Oscillator||BUY|
|20 – Day Average Volume: 14,944,610||Average: 100% BUY|
|Medium Term Indicators|
|50 Day Moving Average||BUY|
|50 – 100 Day MACD Oscillator||BUY|
|50 – 150 Day MACD Oscillator||BUY|
|50 – 200 Day MACD Oscillator||BUY|
|50 – Day Average Volume: 9,268,182||Average: 100% BUY|
- Current Price Per Share: $0.70
- Most recent Rally: $13.00
- First Resistance Test: $3.00
- Company now in line for Filecoins international launch.
- Recent PR: Click HERE
Following in the wake of Mara’s successful couple of weeks in the market, newly formed cryptocurrency mining company QEBR (Currently named Virtual Medical International, Inc. while the company waits for its FINRA name change) just announced it has successfully added to its list of mined CC’s, Bitcoin, Ethereum, and Lambda. This now positions the company to showcase its talent in CC mining as the company prepares for its international launch.
The QEBR technology team previously announced that it has proven its system as a valid Filecoin node with CPU, GPU, bandwidth, and storage compatibility that meets all IPFS guidelines. The QEBR test system has connected with the Filecoin main blockchain and already successfully test-mined filecoin.
Mr Liang, Chief Technology Officer of QEBR, stated,
“The divesture of Sheen Boom and Jihye will allow our team to focus solely on the upcoming worldwide launch of Filecoin. QEBR’s subsidiary, Shenzhen DZD Digital Technology Ltd (“DZD”), has a strong background in blockchain development, data mining, encrypted data acquisition, data processing, and researching of data technology.We strongly believe that Filecoin has the ability to be a leading blockchain-based cryptocurrency and will put all efforts into making QEBR a significant player when the Filecoin mainnet launches soon.”
We believe that QEBR has the right mix of talent, timing, and opportunity to become a strong player in the upcoming field of Filecoin mining. We’ve already honed our abilities in Bitcoin, Ethereum, Lambda, and XL mining.
As this company still considers itself a small cap CC company, its share structure, current under-valued price per share, and now impressive list of industry leading partners, investors are starting to take notice of its volatile growth potential as Bitcoin continues to gather momentum.