Scruff I'm not so good at the short term trading so I'm just holding through the pain - how much more - who knows! Feels bottomish to me - could always go more I guess but seems crazy low at the current btc price. I suspect shortly after MSTR comes off the boil we may get some miner movement - and well done to any that did the mstr trade as it went up with bitcoin while miners went down.
404 there's growing thought that the market will hold together up until the election. I'm not convinced it will last that long - but things often move slowly. But I seriously can't wait to get out and close this chapter. It has been a wild ride and mentally challenging.
Each time is different, so this time is different also. ETF's have changed the structure of the market - that's this cycle's main difference and has resulted in ATH before halving.
Miners are already down over a third, while bitcoin has risen - they've already had their post halving drop but took it early. Everyone is looking to get back in post halving, so I think it will move before then.
It's totally insane - even if you generate your own electricity you have to pay the tax. Mental. It won't get through.
https://twitter.com/BitcoinPierre/status/1767371855512432900/photo/1
Trump is all those things and should not be in power - however Americans value freedom above all else, and hate any sort of tax. To be fair that proposed bill sounds stupid and a tax on bitcoin miner electricity is discrimination. I've not read the detail though to be fair.
Yes the job figures were crazy, there was a good article on it you may have read:
https://www.zerohedge.com/economics/inside-most-ridiculous-jobs-report-recent-history-12-million-immigrant-jobs-added-one
Yes that is the hope, that now is the time for inflation to be coming down and lower than the forecast 3.7. 2 more hours....
Mwhite - when you sell GBTC, if you are a taxpayer, it is a taxable event. So the 1.5% fee would be less of a concern here as it is far less than the tax rate. I think that is what Grayscale are banking on and taking advantage with the higher fees.
On a side note, VanEck has reduced their fees to 0 until next year - so expect heavier inflows there.
It does matter, as it is like driving with the handbrake on. Although we are still going forward and that is the main thing. The sooner they are depleted the better.
https://heyapollo.com/bitcoin-etf
Not too worried, confident miners will run again. Although it would be lovely to see a solid green day not going to lie. Looking forward to the mania phase and getting out. Will use this board as an indicator - when the dumb posts start increasing and getting 30+ likes you know the top is there. For now BTC moving in stealth upwards.
Remember when the price was 36 in November and people were worried about the halving - the price would have to double to get the same - well guess what:
1. The price of BTC HAS doubled.
2. Post halving some hash will drop off. Not loads but some.
3. It's actually not exactly half, as miner fees sit between .2 and .4 BTC at the moment - and have been much higher when the ordinals have printed.
Market will come around before pre halving is my guess.
Some miners will be fundamentally good just now and post halving. MSTR seems to be sucking up the miner traffic just now. $100k per bitcoin they're paying - crazy stuff. It will turn, it always does.
Yes really hoping for a surprise low CPI.
Ah yes I remember that one - so annoying at the time.
It all happened so fast - bitcoin and miners had risen so fast and they were on fire - Argo could do no wrong at the time. Expensive lessons, but lessons learned. Same mania might be with us soon, as BTC sat above 71 and every chance it runs to 100 or more in the very near future. I'm placed for it and ready to scale out at my targets.
Definitely something dodgy there, as the following two Argo RNS's a couple of weeks apart.
Feb 25th 2021 - Large director sales
March 8th 2021 - Raise to buy into Pluto
So they knew it was coming and cashed out, stopping the Argo run. Why would you cash out if you thought Pluto was a great buy? Where did all the money go as you say?
https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/w1j773w
https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/x5d8zpw