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Pop,
I agree, but you know the answer, same as last year. If it seems cheap.....
That's why I've bought another 275K since July 19th.
If such certainty existed how come those slavishly wed to it are not enjoying their untold wealth rather than be here? Note btc has held up after all but as ever, ARB gets screwed over royally. Bar once in its three year existence and that but briefly, for me the issue has and remains the MMs and their desperate need to create prices only suitable for those in the know. Themselves. ARB's fundamentals as of this very moment are worth a great deal more than 120p. 320p more like before NASDAQ but that negates the ability of MMs to finance day trading in the manner they do.
The price action for ARB is current in a recycling pattern IMO, perfect for traders (discounting the recent oversold / shorted position)
To break that cycle, need BTC to comfortably break $45k, that will then see the price quickly retrace to 160 to 180 - if its a very comfortable break and looks to be going to $50 to $55k, whether it does or not, will trigger the FOMO and the money waiting on the sides, and could see the fast upsurge seen earlier in the year
But in the meantime do need a strong bounce off $36k to $37k from BTC, which probably will be over the weekend (normal Sunday / Early Monday action), so wont even impact us)
Or you could say Arb up 50% from 10 days ago !
You could see that it didnt want to go above 137 despite what Btc was doing and then as soon as it falls we get hammered
So even with Btc at 50,000 you cant say what we will be
Bitcoin at the same price it was at the opening bell Monday.
Arb 15% down
Couldn't agree more
Btc up 3000 since 30 June
Argo up 1p
Pretty crap
Lewis99 - You won't get burnt if your willing to give it 3 - 6 months, you may in fact make a decent profit. If your day trading or ST then it's more than likely you will.
It certainly looks that way. Lots of buys at this level.
Now that Futures have expired could it be they are dropping the price to attract investors?
In the meantime,
Holding Firmly.
Maybe the last time to take advantage at these levels, Monday new month, BTC options expired and great July results. This time next week BTC could easily be $50k
Yes that's how l understand it (BTC down at the end of the month because of futures expiry) : nearly bought some more early this morning, but think l'll check it again this afternoon. Anybody know the exact timings of futures expiry this afternoon ?
Drop because:
- 9 updays; had to pullback soon
- futures expiry
- poor UK market sentiment
Nothing unusual here. Hard to rise when all of those are against you. Still see it surging on significant news though - lots of greed accumulating in the market.
Bitcoin gets forced down at the end of every month though doesn’t it. All to do with the futures expiry.
@poptimist, USA Infrastructure bill wants to tax BTC if you are holding I think over 10K. I think they are debating the bill today. Also USA eviction moratorium ends tomorrow? lots of dynamics going on. Please correct me anyone.
It ****HAD**** to break-down/pullback at this stage.
9 up days is crazy!!!!
C'mon - it's been a fantastic week/fortnight for BTC/ARB. Superb trading opportunity.
More volatility = more opportunity.
I don't think it's that bad: BTC is massively up this month!
I expect Whales are trying to shake out more small punters to give the next rise more steam.
Bitcoin really losing its lustre. Anybody know why?