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Hi Bando,
I don't think everything that Peter is doing (e.g. Texas) is funded by selling zcash. If that was the case the outlook would be far better.
All the zcash they mine is converted immediately into bitcoin which they hold.
They raise extra money by dilution.
@teawithsugar... I like your positivity. The strong fundamentals of this company have not changed other than that at each monthly reports Argo mine more BTC, hash rate going up, Texas being developed, addressing the demands of Green/Eco mining, Pluto holding, all funded by Zcash mining.
Peter Wall will see that this becomes THE number one BTC mining company. I trust him and i hope all LTH do too (otherwise what is the point?).
Keep strong and hold your stock for better times to come... oh and if you've got some spare fiat, I would get it into Argo pronto. As always just my opinion, not financial advice and do your own research and DD.
Good Luck to all!
24% short on Arbkf .They will make money on the way back up as well as the way down.The question is how far will they be able to take it down before it goes back up.This has been very coordinated and maybe the big seller is part of it.Still long on both Arb and Bitcoin.
If we did drop to 100p I would Still be holding because why sell at a loss when the fundamentals remain the same? We have all seen how quickly the market moves I’m happy to hold until I get the return. The only way we don’t see gains is if Argo turn off all their machines and sell their btc or btc dumps to £1000 but if you did your research you’d already be aware of the market cycle and volatility of btc so that would already be factored in would it not?
I wouldn't pay too attention to rubbish like people saying they've sold out at £170.
That was the 2mins low of the day. They could of sold out above that any other time in the 7 hrs 58mins of trading!
I don't know what's going on here but the volume today has been crazy compared to normal, even yesterday and that was a high volume day. The volume is way higher than a week ago. While lots of shares are obviously being sold, more than normal are being bought too. Hopefully once people stop selling and the price stabilises then the demand for shares will make the price take off.
Last time I sold out at 72p then luckily got fomo and got back in at approx 74p and have held ever since excluding a couple of times I tried to trade it failed miserably twice and was successful once... you always have to learn the hard way unfortunately my brother lost approx 30k shares because he panic sold last time. Live and learn you can only give your opinion :)
The other side of the coin is what happens if we drop back to 100p?
Would it have been better to get out at 170p or suffer further losses?
Given the price fall no one can bow say with any conviction that we will never see 100p again.
A short week ago these same people were saying that we’d never see below 200p again and we all know how that turned out...
this morning there was a guy saying he sold at a 25k loss when we dropped to 170. Imagine if PW announces Nasdaq tomorrow. We'd open at £3.10! at these prices, its almost needless to take profits/cut your losses. Just keep hodling. No doubt ARB will be back in the 240 range soon enough and we'll be laughing when reminiscing about the stress we had in mid-April
Shares121
Was about to post the same. I remember selling when it last dropped hard and like so many had to buy in higher a few days later. Ride it out - crypto in any guise is volatile as it's not established enough. LTHs - all good.
More dropping = more topping
Tomorrow is payday
Well said. I calculate that 100p would be a PE of around 4 at the current BTC price or a comedy gold PE of 2.5 at BTC $100K.
Good post Shares121. My thoughts exactly.
Last time we hit our first peak of 1.40 ish we retraced to 60p ish which is a drop of approx 56% we then rallied upto 3.40 ish an increase of 446%. I’m not saying it’s gonna play out the exact same but so far we have dipped approx 50% from ath. There is nothing to support these crazy £1 valuations don’t let them shake you out the tree.
Fundamentals are better than before ...
Btc doing just fine ...
Coinbase has sucked a lot of $$ out of the miners and other stocks give it a week or so once Coinbase settles and I’m sure we will see recovery.
If you trade crypto you see this all the time. Don’t panic your just adding fuel to their fire and playing to their narrative.