The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Mara not really moving in pre market anymore than Argo today. Personally hoping a change in accounting methodology will give the stock a boost as well as bitcoin being higher but there has been quite a bit of downtime last few weeks but that should not be reflected in Q4 numbers.
Meanwhile bitcoin spiking to 60k...
Thats a fair point about Mara being 31p some time back also - which is why many of us are getting in ready for tonights results.
Remember if bitcoin goes up - not only does Maras revenue go up but so does its HODL - something Argo does not benefit from.
Personally Im hoping that good Mara results tonight will kick start a general miner pump because I think they all have some catching up to do to vs current btc price - fingers crossed.
Spitfire - I did sell up and posted all the details on here for why when and how much. I lost a lot of money on Argo being a long term holder - a lot - but I eventually saw the light and broke myself out of the sunk cost fallacy I was in.
The aim of all bulletin boards is to help each other make money, no?
We are trying to help by highlighting the facts. If you want to go off and do some serious research and come back here and counter those facts rather than just call it "crap" then please do.
Even if there is some short term money to be made here ( along with all the other miners frankly). Whatever you do - don't come back here in a few weeks and blame everyone but yourself for what has happened to your investment.
Even if we hit $60k bitcoin - Argo is not going anywhere - seems quite clear to me that people are rotating out of Argo into other miners or just are not convinced its going up. Every day we get closer to the halving people are playing chicken.
With bitcoin on $59k Argo price is STILL just about the placing price yet every day you get people trying to justify the "bitcoin is x so Argo should be y" argument.
Sunk cost is what is keeping most people in this stock and its blinding them to whats happening with the price ( I dont think its MM games either). You can bet if bitcoin drops down back to $57k again today Argo price would move then - to the downside!
The simple question everyone still in Argo should ask themselves is "If you had fresh capital today and were not in any miner yet - which miner would you invest it in? I would very much doubt you would choose Argo.
Just look at the miner comparison vids on youtube if anyone is still letting hopium control them.
Yes - his daily update vids are really worth a watch.
So today looking good already:
https://farside.co.uk/?p=997
etf net flows another really strong day over $500m - even Grayscale dumping over $100m again could not stop the juggernaut that is iBit. I think the blackrock figure is probably 2 days worth as the day before was strangely low.
btc just smashed through 58k - the short squeeze continues - hopefully the same will continue on the miners as many have a lot of short interest.
Looking forward to Mara results later - hope this pump continues until then :-)
I guess the big 'gamble' for many of us is being in Mara for results tomorrow night. Good results (or clever accounting) could really rocket Mara and in turn the other miners. The opposite is also true of course. Bitcoin of course could also help or hinder.
Personally I've a chunk in Mara now ready for results - I bought a new tranche today at $32 straight after open not expecting the miner dump that happened mere minutes later - hope my luck changes after tomorrow night.
The Microstrategy trade is probably in anticipation of the S&P500. MSTR does not need to go up much more before its eligible - I need to look at when S&P500 rebalancing is as you can just imagine how much it will rip when every S&P500 tracker has to buy it all of a sudden
Its impossible to say - I mean a few hours ago all the miners were 7-10% up in the US pre market - now bitcoin is still 56.6k and even Nasdaq is positive yet nearly all the miners have sunk over 10% in the past hour and many are negative now
I have no clue why this has just happened - so predicting what will happen with Argo is even more tricky.
I sold all my Argo on 20th Feb for 20.1p - bitcoin was just over 52K.
Bitcoin is now just under 57k and Argo is as I type exactly 20p .
That in a nutshell blows the whole "bitcoin is this price so Argo should be this price" argument out of the water.
If bitcoin doubled to say Β£100k, imagine what a better, more profitable miner, with a HODL would do share price wise...
US pre market for the miners looking tasty again - Mara up 9% , Cleanspark up 11%.
I wonder how much of the btc etf inflows bitcoin has been purchased so far in the 24 hours since yesterdays close...
I notice in the etf inflows - Blackrock was 3rd yesterday - Fidelity was a lot higher and even Ark was higher than iBit. Good to see.
https://farside.co.uk/?p=997
The most interesting thing for me about yesterdays btc pump is that the miners in the US all shot up straight on the open BUT BEFORE btc did. A few of the 'youtube crpyto experts' noticed it also. I wonder what caused that - very odd action.
Anyone else wake up a bit too early due to wanting to know what happened overnight?!
Btc inflows back over $500m, grayscale dump was the lowest yet and bitcoin holding above 56k.
Hopefully another good day ahead
Not sure what number will be most shocking at 9pm, bitcoin price or West Hams goal tally π
I honestly wish bitcoin would slow down as the additional rise over $53k is not fully being reflected in the miner prices. Roll on 9pm so the market closes and can reset tomorrow.
Cant wait to see the btc etf inflows for today π
Might get a bit of a pull back here - but thats ok -I'll be delighted if we can stay above $53k.
I was just looking at the volume for the bitcoin ETF's - Blackrock is 19m shares traded in 2 hours!- I guess we find out tomorrow how much is profit taking or new inflows - but if it is inflows - remember they will have to buy those bitcoins from somewhere in the ~24 hours after tonights close....
Also I have noticed that if say bitcoin jumps $k the miners will rip 20%, but if bitcoin rips another $2k almost at the same time - the miners will not go up anywhere near another 20%. The return is best when the pumps are smaller but more often.
Hey misterbeck - Oh I am happy - my DAGB ETF is up 13% and my Mara a bit more than that - Argo doing well also for those that are still playing chicken ;-)
btc is certainly ripping - heading towards $54k as I type - but I dont want it to drop as fast as it popped! Would like it to consolidate and build up some liquidity again else it will just be back down again when I wake up tomorrow.
For now though party time - crazy no movement for over a week then it all happens in a matter of hours.
"$52.5k resistance getting smashed... where is this thing heading!"
Hopefully to $53k and then consolidate there for a bit - rinse and repat over the next few weeks/months.
Let the ETF sellers point out that the bitcoin ETF's are up 20% since launch - I can see the adverts now...and the flows will just get bigger and bigger..
Nice start to the week this - I just hope it holds - all miners benefit but going too fast too quick is not ideal.
And out of nowhere suddenly the US miners etc all jump big time and bitcoin now starting to move up also. I see Microstrategy bought another 3k bitcoins for average of $51.8k.
Could this be the week we finally and conclusively break over $52k and out of this range we have been stuck in - would be perfect timing for Mara results...