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Big volume now on the LSE - trade for 350k just went through then U/T trade from auction was 805k..
10m volume in one hour :-)
Looks exactly the same as yesterday - big volume, everything being bought at the ask - 4m shares in 20 mins is actually much more than yesterday - I think things could improve greatly once this overhang is cleared
Are the new shares from the placing out today on the market? - might need some more churn time before moving up
All the ETFs and their tickers can be found in this article - most resolve on CNBC so can be added to watchlists but not Blackrocks ishares one strangely.
https://www.thestreet.com/etffocus/trade-ideas/bitcoin-etfs-are-here-full-list-their-outlooks-and-winners-losers
Lets just see what happens when the ETF's start trading later - time to put them on my watchlist.
Bitcoin dropping in price overnight was not expected but then much of this might be people rotating out of the holding directly ready to buy the ETF instead but in a tax free wrapper.
More fun and games today - I still think ARBK went up like it did in the US due to ticker confusion with ARKB - the open / first few hours on the LSE will prove that or not.
Its on CNBC right now also - but of course this is what happened yesterday - extremely muted reaction on the actual bitcoin price - either it will go ballistic a bit later when it sinks in or this nice calm reaction is a good thing - depends which way you want to look at it
The share price was never up over 30% in the US - why do people make this stuff up? Please don't turn this board into Stocktwits. I think it was up about 22% at its peak before fizzing out as per now to +9%
I actually think the person mentioning the ticker similarity with ARKB caused it to pump is probably spot on - which is a worry that people can actually trade a stock without looking at the name!
Im interested to know how this works with regard to the ETF price and the price of bitcoin - which leads which?
I mean if someone suddenly decides to buy £10m of the new ETF , is the bitcoin behind it already bought in which case it does not impact bitcoin price at all or do they have to go out and buy £10m of bitcoin (and in what time frame)?
Not long now to go before decision. I think if its approved bitcoin should fly else, as I mentioned yesterday, we have a situation where if its sell on the news then bitcoin would drop whether its approved or not - in which case you would expect it to be dropping already...
not long to wait now.
Apparently the Ark ETF is now listed on Fidelty website already - seems a bit presumptuous if its not been approved.... ;-)
I think someone said the new placing shares hit the market tomorrow so that might be interesting but if its anything like the US right now it should open up a decent % - although obviously still down a fair bit on pre placing price.
$3.07 in the US now - other miners also starting to creep up - popcorn time.
Its quite exciting to be fair - Argo back to $3 again in the US and bitcoin is def moving higher in anticipation - come on footy match - certainly need that distraction as its still hours to go :-)
Easiest way is that for every 12.7 CENTS the US price goes up, the LSE share goes up 1 PENCE.
Nice move in the US for sure - what a casino this is :-)
I would agree with that - first few hours of about 5m trades was all at the ask according to my Level 2 feed - someone was offloading but it was all being bought up.
Anyway - looking perkier in the US now and 4-5 hours ish to go until hopefully the big reveal - I will watch the Liverpool cup game to distract me - news should drop during it :-)
Musk / Twitter could sort this out in a few minutes by saying if it was hacked or not - they know who logged in and when and from which IP address.
I dont think the SEC site was hacked else they would not have been able to get back in and delete the tweet so quickly. At least we better hope it was not hacked or it opens a whole world of pain for any algorithic tradign relying on twitter feeds if even the biggest ones can be compromised.
I think far more likely is that the tweet was ready to go for TODAY and was sent early - but now its a total mess.
You know I really don't like the way Elon Musk handles himself (love his business ides though) but I bet he is tempted to sue the SEC for manipulating market tweets.... karma is a b**ch
There are clearly a lot of shares at 20p on the ask side - you cannot see it on level 2 but its not budged all morning and all trades are at the ask - once that clears hopefully it will start to recover, ETF farce aside.
It was just on cnbc but there is a rumour of a hacked tweet - you could not make it up
Yep - its official - let the volatility commence!
Surfingways - i think my maths is correct. Remember nasdaq ‘shares’ are equiv to 10 LSE shares. So a price of $2.54 / 1.27 = 200 pence
Divide that by 10 and thats 20p a share (or under).
Well, with an exchange rate of $1.27 to the GBP £, the US price ($2.48) is now under 20p equi, thus making sense of this thread title.
amazed a 7% dilution discount to 20.5p has discounted the ENTIRE float to under that.
Not gone down very well at all now it seems - perhaps investors rotating out of Argo into other miners....
Im still at a loss on why some think there will be a sell on the news event.
two outcomes here
ETF approved
ETF not approved
If not approved we know bitcoin will dump (and so will the miners), certainly in the short term, depending upon when they plan to look at the ETF's again. There also could be a lot of litigation if they are not approved so not sure where that would leave bitcoin price.
If it is approved and its a sell on event then in both scenarios bitcoin is going down! That being the case surely it would have sold off already? but it hasn't - its crept higher...
I see it just dropped $1k in a matter of minutes just now and bounced straight back again - whatever happens its certainly going to be a volatile move - but I just cannot see how bitcoin wont go up if the etf's are approved - and in turn - the miners.
who would want to be a day trader in this scenario - certainly not me...