Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Still going to have trouble getting those microstrategy investors to switch into the miners again.
bitcoin is up 2% since US close yesterday - MSTR is up nearly 10% . The gift that keeps on giving at the moment.
MSTR is getting so big that its now 17% of the DAGB fund I invested in which is just as well as its been the main thing holding up the price until the miners are a little green finally today.
SRBS, no MM's are not to blame for the stock price being this low and no, Argo share price should not be 30p.
I've already put my reasons why I think Argo is a bad investment and is where it is despite daily btc ATH's, but happy for you to post why I'm wrong.
Well bitcoin reacting well to the flows - another ATH and improving as I type - probably looking at $75k+ btc by end of the week before probably another liquidation flush up and down.
Meanwhile Argo is still 13.88p.
All the main miners will at some point massively pop - the day is getting closer as btc price slowly tips each one into profitability post halving. The big question is - when do you rotate out of Microstategy which has been consistent and epic up to this point and into the miners for better gains...
Wow - the numbers just updated : https://farside.co.uk/?p=997
$849m for Blackrock and Grayscale only dumped $79m
HODL (now with no fees until 2025 again with a crackign day at 83m
total NET inflows $1.045 BILLION !!!
No wonder btc has already recovered to 72.7k since yesterdays liquidity grab - just wait until everyone clocks these inflow numbers :-)
Just saw the Argo close on the LSE - 13.5p - ouch.
ETF volumes were MASSIVE again today - hopefully not too big a dump from grayscale - will start to see what the inflows are early in the morning but I would hope to see bitcoin approaching new ATH over $73k now we have had the long and short leveraged flushes at 73k and 69k today.
Seems a fairly standard pattern is emerging for bitcoin , slowly trickling up , flush out the leveraged trades after a few days of the liquidity building up , both to the upside and the downside, continue trickling up, new ATH, rinse and repeat.
$100k+ range looks inevitable.
Wow - down they all go again - including MSTR, like last night - but bitcoin not down at all.
So the ETF's need to buy $500m of bitcoin *net* in the 24 hours since yesterday US close - im amazed that bitcoin price can stay flat with that kind of buying pressure. I guess we have until close tonight if they have not done it already.
Im sure you are just joking but I would like to think people are more concerned about far right dictators and the absolute disaster that is Donald Trump than making a bit more cash on their crypto.
Still stuns me how many people in the US are prepared to vote for a convicted sex offender, convicted fraudster and pathological liar. I genuinely worry what world awaits my 20 year old son as its not just the US going further and further right - and I dont see how we will come back from it if Trump gets back in.
I just wish the Dems had a younger candidate as neither of these are really ideal for the next 5 years.
Best quote I have heard about Trump, and its absolutely true:
"If your child acted like Donald Trump, you would send them to their room - not the White House"
MARA and CLSK down another 3% in early pre market - god help us if we get a bad inflation print - announcement at 12.30pm London time.
Certainly not flowing into Argo - 13.86p now - anyone buying this dip...?
Its not all going into the other ETF's though - thats the point. Many people were locked up and are only now able to sell from grayscale. Much of the recent selling is bankruptcy recompense and again - many will just take the money and run away from crypto - maybe put the money into alt coins - who knows - but its not 1:1 out of grayscale and into the other ETF's.
Once this daily headwind starts to dissipate and more and more flows come in from the other btc etf's due to onboarding from the main US warehouses and financial advisor network etc you will see the mother of all supply shocks.
..and that does not even talk about other bitcoin spot ETF's from Hong Kong, South Korea and UK (institutional only apparently UK one). Things could get crazy in a few months time.
This all this seems to be concinciding with the date of the halving btw as most wriehouses and RIA's due diligance periods are 3 months + after 11th Jan start date...
Https://www.youtube.com/watch?v=RPDC5zuFL-Q
A youtube vid of a guy trying to explain why miners are lagging - hes worth a subscribe.
Boom - just updated - blackrock inflows 562m meaning net inflow of over 500m - awesome - hopefully the buying starts now - back over $72k we go. US futures are up also but it’s still all eyes in the inflation report to see where we end up today
Https://farside.co.uk/?p=997
Very interesting btc etf flows yesterday - another huge dump by grayscale of 494m - makes you wonder when this will stop - but it will. Most of the others got great inflows yesterday - the number for black rock is not in yet but expect it to be enough for another net positive day. The standout performer for me was HODL where out of nowhere it did 118m where as it barely did 10m before so one to keep an eye on there.
Big day with inflation figures ahead - surely the miners cannot go much lower … can they? Will there be another leap of bitcoin at the London open like yesterday?
Well tomorrow could be a huge day either way with the inflation number. Remember the time difference change for those planning to trade on the news.
Etf volumes were huge again today - over 70m just for blackrock. Lets see if that translates into inflows and if grayscale could just stop dumping - that would also be nice
Well if Biden is not in power that legislation will be the least of our worries.
Some news has impacted everything crypto related though - the drop in coinbase and microstrategy was very unexpected - and the miners were hit quite hard before this new news dropped
This is some of the weirdest price action ive seen. Miners are just shocking - mara and clsk down over 10% with btc still over 72k.
Even stranger is microstrategy was up 14% and even its now up only 5% in last hour with little to no change in btc price - really really weird
Seems that , again, all the money is going into btc ETF's in the US (Blackrock crazy volume nearing 20m in first hour - hope this turns into inflows tomorrow because last Friday hardly did with also massive volume)
Microstrategy is the other again is up nearly 10% with bitcoin up nearly 5% - so 2x gearing there without the halving to worry about and also easy to buy in the UK.
Seems the miners are totally unloved presently.
Also note clocks have moved in the US - I had forgotten actually as we are several weeks later here in the UK.
It is remarkable to see all the miners go negative in the US again. Who would have forseen it being as bad as this with bitcoin at ATH.
Hey its Spitfire - Mr "I've been here since 1p and made a fortune" !!?
How is the "Im still buying the dip going" on Argo?
Just had a cursory flick through some of your previous angry posts - LOVE THOSE CAPS EH?!!
Argo still 15.69p with bitcoin continuing to push up , now $72k. How about trying to explain that rather than just the ANGRY posts ?