Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I bought back in at £1.70. I think ARB will open a little higher but it probably won’t fly until BTC flies or suggests in the charts that it will. All signs look very promising, hence my purchase on Friday, but for now BTC volume is nowhere near ETH, LINK, BCH or especially LTC, which really is flying as I write this. However, should the alt’s calm down or some whales buy BTC, then ARB will shoot past £2 and continue rising if new all time highs look likely. I think BTC is heading for $100,000 minimum before October but could even reach $200k, so I’m very optimistic in the short to medium term. My prediction is ARB opens around £1.80 and meets resistance around £2 until BTC rises another $1000. I’d like to be wrong to the upside but that’s my take for now (no bias, ramping or de-ramping, just 100% honest opinion).
I like Zak but he has said a lot of things about shares that I often find go in the other direction after a while! I got burned assuming his technicals meant “prediction”. Argo shouldn’t go lower because it’s a good company, but I’m just saying...
Academy, years ago BTC was 80/20 retail. Now? 65/35 institutional and climbing... this isn’t a bunch of naive speculators acting on faith. I follow a number of macroeconomists, and most of them not only hold Bitcoin but they explain better than I ever could why it’s a perfectly reasonable investment as part of a diversified portfolio. However, the FUD spreaders don’t tell you this because “institutions piling into crypto” doesn’t exactly help the FUD case. Not to say institutions are always right - we know what happened with CDO’s and, worse, synthetic CDO’s earlier this century. But when macroeconomists are more bearish on fiat than Bitcoin thanks to this live environment trial of MMT and UBI (well, sort of), it’s reasonable to question the current system and its equally reasonable to add Bitcoin (or alt’s, for that matter) to one’s investment portfolio.
P.S. I wonder if Jeremy Grantham owns any art. How does one determine the true price of an artwork? Even where there is quantifiable value, not only is the price susceptible to fluctuating supply and demand, making the asset overbought or oversold much of the time, but the currency used to purchase the asset is also part of the equation. Right now, it is clear that when it comes to faith, little of it remains in fiat, so it is understandable that it appears to be losing value against various assets and commodities.
“Last month, outgoing European Central Bank executive board member Benoît Cœuré, who last year (2018) described bitcoin as “the evil spawn of the financial crisis,” outlined plans for a European “central bank digital currency”...”
As if I needed another reason to buy BTC, DeFi alt’s, ARB and RIOT... ;D
BTC is going up. I think this is for real this time because the chart is showing one hell of a spike up with very little resistance (so far). Could just be oversold but that’s the sort of thing that makes markets turn from bearish to bullish. Momentum.........
Good for me, Hewhodares1! If Bitcoin goes down a little further before it’s next flight to the moon, I’ll be up to my knees in altcoins at a discount and ARB and RIOT at reduced prices, too. Happy dance time! BUY BUY BUY! :D
Thanks everyone so far for your replies. Really appreciated. I have Argo and Riot but I want to top up Argo because I don’t have enough of ARB (and too much of RIOT - in my taxable Trading Account, too. Aaargghhh!). I’ll add Riot to my ISA in April but Argo I wanna grab now on the dip because damn I love this stock due to its own fundamentals as much as my belief in crypto generally. I didn’t even know until recently that Argo invested in Polkadot... how I missed that I don’t know. What a move.
http://www.alignresearch.co.uk/argo-blockchain/argo-blockchain-reinvests-crypto-gains-digital-assets/
Hey guys, hope you all had / having a nice weekend.
What do you think BTC and altcoins will do over the next 2-4 days? I’m hoping the price stays down for a while longer so I can bug ££££ more in my DeFi coins and move my
ISA shares into Argo at a lower price. Sorry to wish the price down temporarily but dammit I want more shares! :D
If it goes lower than $40,000 I’ll be surprised. Looking at the 3 monthly chart, there’s a pullback after the spike up that suggests $41k is (probably) the true lowest line of resistance. If it breaks that it would be strange and sad. I’m sticking with $41k lowest point over the next 24-48 hours before BTC rebounds significantly by the end of the week. This doesn’t make Argo less appealing but if the price is lower still on Monday, the ARB price may present opportunities to buy more. Unfortunately, not for long unless it does hit the 30s (in USD) because HODLers are also leaping into the dips!
With all the FUD being spread and the current dumpathon, that might sound logical - your choice, of course. But I know that institutions make a lot of money doing the opposite to the herd.
As the retail folks get jittery these whales are gobbling up Bitcoin at an accelerating pace, spending more and more, incorporating it into their balance sheets - as predicted by some brilliant macroeconomists well in advance of this move.
If someone out there wants to push me out of crypto, good luck! I’ll go all Keyser Soze on them before they get me out as they want me to. I’ll ride this down to zero, I don’t care. DeFi all the way. For financial freedom. For the people. Central banks will not rule me the way they want to, so as far as I’m concerned they can just pipe down and let the people decide their own futures thank you. I will not have a bunch of old bureaucrats telling me that Bitcoin is too volatile (compared to penny stocks or naked short selling?), or that it has no value (unlike bits of plastic-coated paper backed by nothing?). Where are my penny stock volatility warnings?? It’s all politically driven nonsense.
I’ll show them a Ponzi scheme! Here, look at this £10 note. I used to have so much purchasing power when I was an ickle kid buying my umpteen sherbet flying saucers. Now I’m happy to pick up a few multipacks of choc’s and a few cans of carbonated sugar water.
So I’ll show them what will really is. HODL HODL HODL... because tonight, Matthew, I’m going to be Keyser Soze.
I don’t know of any panic. The issue is that passive investing is huge and the s&p500 dividend is 150bps. If bond yields push towards 150bps, which they are, then it makes less sense to hold higher risk equities for the same dividend. This is compounded by the size of the bond market compared to equities, so just as a larger market cap is harder to move, a smaller one is more volatile in both directions.
That’s why equities are getting whacked now, but I should add it’s fairly temporary because as inflation climbs the institutions will realise a 1.5% dividend doesn’t outpace inflation and will gradually go back into stocks, especially growth stocks. However, I assume this will have to be felt by their clients since CPI is a flawed approach to measuring inflation in real terms. Supply and demand during an inflationary environment is exaggerated so the most in-demand commodities are / will be skyrocketing (lumber and copper are great examples) whilst the least will rise slowly or flounder as the capital moves at an accelerated rate back towards higher yielding assets, which is why Bitcoin is being snapped up by forward thinking institutions like its Black Friday as nervous retail investors run for the exits into no-man’s land, i.e. fiat. And I’m currently watching a video confirming this very trend, too.
Maybe I’m wrong (often happens) but that’s my take.
Re BTC (but as we know ARB moves with BTC price): as I said in my 3am post, this looks like price spikes and then further suppression of BTC to avoid rising prices for the whales and elephants buying in big. I think this is the 4.8bn UAE buy but I could be wrong. Lots of Bitcoin to buy. I assumed it had already happened before the announcement but maybe not. There are institutions piling in and they all know the deal, too, since they do the same when buying shares. Also,BTC as an additional hedge for governments may also explain the slowly declining gold price since central banks selling to buy Bitcoin would partially explain the fall in gold despite the mad money printing of 2020-21. Bond yields are higher, too, which only compounds the effect. All very positive for Bitcoin if I’m right and, therefore, Argo Blockchain et al.
In the long run, I’m confident Bitcoin goes to $100k (easily), but price suppression will continue for now...
https://decrypt.co/59349/dubai-private-equity-firm-to-invest-4-8-billion-of-bitcoin-in-miami
According to experienced traders, when whales buy, prices go down temporarily, not up... apparently this happened when Michael Saylor bought BTC, too. So, with soooo much being bought this time, it makes sense that the price had to be temporarily suppressed (I assume by shorting BTC). Combine this with the frothy over-enthusiasm resulting in a correction before the next run up even higher, and retail investors panicking and selling at a loss or loss of profits... anyway, it explains my confusion a few days ago when I asked why I was seeing sideways and falling prices of BTC but with huge price spikes in between the overall trend every time I refreshed my app. I hope this is true because it’s very reassuring if that’s the case.
Current price prediction end of 2021: $90,000-100,000.