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Good post Argobull
Yes, it’s not nice to see money disappear as it is and neither a 20% drop or even a 20% rise would surprise me tomorrow but I am comfortable holding this share as I just have to look at it’s fundamentals and I believe that bitcoin will only get stronger and stronger.
Likewise Pepsicle. :-) As others have said, it's much less stressful seeing a reduced profit than it is an outright 'loss', although it's not one I'm going to crystallise!!
As mickymix said, we just have to wait for the bounce back, which will happen. It's just not pleasant knowing we could have picked the shares up so much lower, hence the amazing opportunity for new shareholders!!
Yes, from 178 down to 68p then up to 492 and then 1200. Arb could easily double, treble, quadruple from here in a relative flash and very probably will do one or the other. The only real BTC play for SIPPS & ISAS in the UK, not to mention a world class miner and broader blockchain play. I have every confidence it will bounce back twice as high as the previous high and then some. Oh yes, and the shorts will no doubt turn to longs on the way back up.
Anyone remember NCYT went from 178p to 60p in a couple of days.
Mass panic and selling.....
Just shares being transferred...
No reason for the drop...just relax and take advantage ( i think!)
I feel your pain Barney, I'm in the same boat :-(
Argobull. Totally with you on this. I'm annoyed at myself averaging down too heavily at £2.15. Never thought it would drop below the placing price and consequently went all in. It's slightly frustrating that with so many like me, it will be the new shareholders who really benefit from the share price recovery and not the existing ones who are in the red!!
For all new potential Argonauts. You are in a fantastic position to benefit from the bounce. You'll be in profit faster than those many on here. IMO you should be taking advantage of it and fill your boots!!! GLA.
I wonder if one other factor is that people are currently investing more in other crypto currencies. Just looking at the BTC dominance chart and it has fallen from about 74% at the start of the year to 53% today. Has fallen very steeply in the last month. So although BTC is doing well other currencies are doing better and people are looking for greater returns in other currencies. Hopefully means that BTC is/will become undervalued in relation to other currencies and money will come back .
JCreek - I know what you mean and I feel the same - if I sold we'd get a NASDAQ announcement the next morning!
Bucket - everyone has to run their own race. Time will tell who made good decisions and who made bad ones. My post was about how hard it is to hold - so maybe you're agreeing with me?
argobull is your real name Peter?!
:)
Irrespective of what these fundamentals look like the key factor people will look at is the share price.
With it dropping at this, quite frankly, alarming rate people have a right to be concerned.
Shall I do you all a favour and take my profits? I know full well it'll sky rocket the second I sell...
It's been a hard week, let's face it, a hard couple of months.
It keeps dropping and it's hard to hold as you watch your money disappearing. It's horrible.
But let's go back to the investment case here.
We have more hash power coming on this quarter - we will easily be mining 200 BTC a month very soon.
At current BTC price vs Market Cap, we are looking at a price earnings ratio of about 6 just now.
It's insane!
And this is excluding Pluto investment, it is also excluding Texas, it is also excluding any future BTC growth.
If I had any money left I would be buying right now.
This is the time when the money is made. It's easy to hold when the price is going up, it's much harder at times like this.