RE: Trading / Profit23 Jan 2021 08:37
An excellent post, Rookie, summarising where we are now and what the prospects are over the next few weeks and months. All the hundreds of 'Woe is me!' posts this week as the price slid came from people who listened to the hype as the price rocketed from 10.00 to 140.00 and thought all they needed to do was jump on the bandwagon and they would make their fortune. I am pretty sure many of them had little idea of the inherent volatility of what they were buying into and, as soon as they saw their 'investment' losing money, they immediately began to blame what they saw as the evils of bitcoin. They then fed off each other and the board became a sea of negativity and panic as sensible posters stayed away. And then what happens? The price of bitcoin bottoms out just below 29,000 (hugely up on where it was in December!) and began to rise quickly again. Suddenly we were back to 'fill your boots', double your money in a week etc. We have all seen it happen so often.
Now we seem back to steady state and you have summarised the prospects and likely future direction of the bitcoin miners, in our case ARB, very well. The increasing 'respectability' afforded to cryptocurrencies has convinced me that we are at the forefront of a financial revolution which will make today's shareprice seem like the bargain of the decade when ARBKF lists on Nasdaq and the move into crypto as a safe haven hedge against uncertainty in these difficult times gathers pace.
Although ARB can now be traded more easily in the US, the increase in exposure when we reach NASDAQ will be exponential. Peter Wall's recent decisions have been very instructive - he is not interested in today's shareprice and through his excellent videos he has encouraged investors to look to six months ahead and beyond and to be as 'super-optimistic' as he says he is. We have new, even more efficient machines operating from next week, we have more and more arriving between now and the end of Q2 funded by US IIs who were allocated shares at 80.00 (cue the 'woe is me' brigade again but we little PIs could have bought in a few days later at 60.00 so why the 'woe is me'?), we have appointed US PR advisors and US financial advisors, both of them very respected companies steeped in the world of US crypto stocks .......... and we are going to see fantastic monthly results in early February.
We need to forget the sudden rise which promised instant riches for all. Some of us, and I am one of them, happened to be in the right place at the right time and that was great. However, as with companies like NCYT and SNG, that was then and this is now. I have put a lot into NCYT recently because of what I see as its future prospects and not because of its stratospheric performance in 2020 and it is just the same with ARGO. I bought back in again in the last couple of days because I like the look of the next months and years and my hope is that we will see a new group of sensible investors deciding the time is right to in
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