Member Info for HarChris

I wish I knew if this stability was a positive or a negative. A rise is a rise but I want to feel that exhilaration again when it really starts moving!

I've got FOMO because I only added £10k Friday when I was damn close to adding £20k haha what a start to the weekend.

This article is very interesting and argues that just $93m could move bitcoin 1%! https://www.bloombergquint.com/onweb/have-93-million-you-may-be-able-to-boost-bitcoin-s-price-by-1

Thanks, that thread has some good explanations that have helped. I did sort of intuitively understand this but now it's confirmed:

Every dollar invested PRODUCES an increase of 3.30 of the total market cap. This is because the price has to rise to make bitcoin owners willing to sell. Each dollar invested has to bid the price up to create willingness to sell and therefore pushes up marketcap

Another respected poster ( I won't name as i'm not a bully) put out a £70 target yesterday!

Look at SAE, they suffered a similar negative update last week. It took a good few trading sessions before the share price started to recover and then it moved big time https://www.google.com/search?q=sae+shares&oq=sae&aqs=chrome.0.69i59j69i57j69i59j0i20i131i263i433j69i60l3.1396j0j9&sourceid=chrome&ie=UTF-8

This is not how price action works. Serious price shocks send the share price below fair value and take some time before the selling pressure subsides. It's why it's dangerous trying to catch a falling knife.

My advice sit on the sidelines and wait to see how this plays out Monday. If no news Monday I expect this will fall a little further before the selling pressure subsides and the share price starts rising.

I do think this will climb back slowly to around £6 and the potential is still there to reach midcap eventually but this news is a big blow whichever way you swing it.

Soder I completely agree with you. Once the dust settles I imagine climbing back to £6 a share won't take long, but that is once the dust has settled. In the meantime it's too risky for me. I sold at £5.40 and would buy back if it dropped below £4 today but otherwise will watch from the sidelines.

For all the mocking of the likes of Porky and gggg remember that they were heavily, heavily invested here and must be hurting. This is a big blow to a lot of people and I know my losses pail in comparison to some others who have been buying all the way down from £11... Be nice.

What a blow - hope none of the heavily invested are suffering too much. Be careful and avoid trying to catch a falling knife

It's very very simple. As a bitcoin miner and HODLer this share is going to move in a more exaggerated way to bitcoin, both up and down. If bitcoin rises 5% and there is an expectation of the rise continuing we will rise 10, 15, 20%+. If bitcoin falls 5% and there's fear of further falls we will fall, 10, 15, 20%+.

This is why you really need to be a bitcoin bull to invest in HODL miners. You'll either make a lot more or lose a lot more than investing in bitcoin directly.

The only issue with what you're saying Ben is that concrete figures are not what dictates a share price, forecasts and expectations are. If the market believes BMN will make $150m pre-tax profit next year the share price should be starting to reflect that. If it doesn't it either means a) the market has not yet been convinced or b) we are all wrong and overly optimistic with our projections. Many investors are nervous when so much supposed promise doesn't translate into increase market cap as there is always the risk of b) being true.

I wish this was the case but truth be told bitcoin is still very much where it's been all week. Very much hoping to wake up to $60k but wouldn't bet on it.

I too thought it was a very recent recording and so was rather concerned by the HT comments.

Now seeing it was recorded a month ago I'm relieved! Don't see any negatives from that discussion at all.

Hear hear, tedious to say the least.

It will open around 230p unless bitcoin moves substantially in either direction.

Motley Fool is made up of ten or so contributors, it is not one uniformed voice. Today's is a fair and positive piece of coverage for Argo - https://www.fool.co.uk/investing/2021/04/07/the-argo-blockchain-share-price-could-keep-climbing/

They didn't get spiked, they just bought prior to bitcoin falling/stabilising. Not everyone has a crystal ball.

Nasdaq has not been partially priced in lolol nobody bar a few members of this forum are expecting it any time soon.

Another thing to remember... HODLING is high risk, whether you like to believe it or not. No one knows what value bitcoin will be in the future. If it rises as we expect the company will grow exponentially but if it crashes the company will be worth barely anything.

HODLING will tie us even closer to bitcoin as we won't have the cash in the bank, we will be relying on the future bitcoin price far more than we were before.