Member Info for HarChris

What's pretty obvious is that it will not happen just yet, the dust will be left to settle for at least a few weeks with, in my opinion, BTC stabilising around the $25-$30k mark. If once nerves are calmed institutions buy in big alongside retail there's a decent chance of a run up to new all time highs.

It now all depends on whether institutional investment actually gets on board or not. Elon took the lead as a first mover just as talk of a flood of institutions swept the narrative but the institutional money did not follow, just a smattering here and there and no where near enough to prop up the $1.1 trillion market cap.

How institutions react now will dictate what happens next...

What a difference a week makes. Last Friday the update was received negatively, the analyst call frustrated many on here and the share price closed at 15.5. This week we saw the shares continue to slide but day on day rises in V has helped resist the downward pressure and finally reversed it today, ending the week higher than we closed the last but much more importantly moving in the right direction this time!

This seems more combative than it was meant to, sorry MS. Enjoy your weekend all, there are much better days ahead I'm sure of it!

There has been virtually no volume for weeks and weeks, of course the volume today was comparatively large - there was an another profit warning! I am saying that compared with past bad news the response was pretty 'meh'. You don't agree with the simple point I'm making that on the whole LTHs probably had less FOMO today? Already two responded saying they agreed and did not feel like topping up today - do they expect the share price to be higher in two to three months? I'm sure they do but we all know it's going to take quite a bit now to bring sentiment back. I'm confident the company will turn this around.

Share price short term is more psychology than it is fundamentals imo - if most people think something's going to happen (i.e share price drift further before it's free to move again) then it becomes a reality.

The volume post 8:05 will have been nothing compared with the day of the trading update or the last RNS dispute.

Of course, £30m was wiped off the company by 8:05!

Morningsun I didn't say no one topped up, I'm saying that the long term holders on the whole will have acted differently on this drop than past drops. Just look at how ridiculously stable the share price was today after the initial drop to ~£3.63... it barely moved an inch. That means that there was barely any buying and selling for most of the day, small sells and small buys, no serious dumping (besides 8am auction )and no optimistic big FOMO buys.

The share price is not reflective of the business, it's reflective of the trading environment. This was just one bit of bad news too many, once bitten twice shy. How many of you held back today instead of buying because you feel there's now no rush to buy in at 360p? How many of you would have topped up in the past in this situation (basically no new news) but didn't today?

Even Porky only did a small top up today, in the past he'd have been throwing the kitchen sink at it. I don't think that's because he's lost faith in the business, it's just a case of thinking it might get worse before it gets better.

Personally I held but didn't even contemplate topping up, if it drops next week I suspect I will.

If you take the time to read what I have to write you'll see that I believe in Argo long term more than I do bitcoin. My prediction is that bitcoin takes a break for some time and during that time there is a chance to accumulate a large amount of Argo shares and when bitcoin comes roaring back however long it takes... bang.

I think this is one of the reasons bitcoin takes such a long break in between bull cycles, it takes a lot of time to create the interest and hardened resolve to buy, buy, buy and HODL, HODL, HODL and it also takes continual rises to cement that mentality. I am interested in Argo because I believe that once again in the future those factors will come together, from a higher base than before and bitcoin will rally to enormous new heights. If Argo goes away, sets up Texas, mines as many coins as possible and keeps hold of as many as they can afford to then when the next cycle arrives they'll be sitting on an absolute gold mine.

This is my take, it's a purely psychological one and completely my own opinion and observation!

I'll give you an example. I have nine or so friends that are bitcoin and crypto fanatics. For six months they've told me to sell all my stocks and buy bitcoin and ethereum. They aren't wealthy (well one is) and turned varying but small savings into an awful lot over the past six months - you know sort of £10k into £40k, sort of thing. Since February they have put all their disposable income into bitcoin and ethereum.

The crash happened and they started getting nervous, they went from 100% dead certain of it rising continually to a bit unsure. A couple of them bought near the bottom but the rest didn't, they are checking the prices all the time now. Yesterday one sold half of his crypto and I know a few more of them are considering it.

The point is these tens of millions of retail investors who were buying and buying are sitting on healthy profits, meaningful profits. It's whales that point the price in any direction but its the HODLers that amplify it.

No it's retail that buys the dips, millions of individuals. They aren't buying the dip now.

People are always looking for reasons why bitcoin is falling but the truth is retail has on the whole lost confidence after the market crash and the figureheads they follow buying and buying as bitcoin fell won't have instilled any confidence in them. Instis aren't stepping in to quell those nerves.

+ the SP reached 18.25 just three days prior...

I don't think this rise has anything to do with crypto whatsoever.

Now let's see if there's enough buying pressure to push this baby on towards 18p again - MassiveRay, feeling frisky?

Why the suspicion? They were heavily invested PIs who believed they had spotted a somewhat under the radar and wildly undervalued company to invest in and make their riches - I remember gggg actually stating that, that once novacyt reached his forecasts he would have enough money to retire in his 30s.

Some of them appear to still be invested but obviously aren't quite as enthused as they used to be, some have obviously sold out after taking a big loss. I would be far more suspicious if they had gone quiet following big rises because then they really would be pump and dumpers.

I don't think there's any sneaky ulterior motive - the last time they got it out the way and then followed it up with good news. I imagine (not a conspiracy theorist mind you) that they've begrudgingly released this news today as it'll once again give some breathing space between now and the important plans they will be sharing at the end of Q2.

Short term pain again for (hopefully) long term gain.