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petethefeet1, it may work out in the long run. But if you bought at todays intraday high you will be nursing quite a loss for now. But may just be a blip over time who knows.
Paulb0, F2Pool may have something to do with overnights dips in Asia but mainly it is big dips about once a month that may be to do with the monthly expiry of bitcoin futures. Very often when there is a big rise, such as the recent one triggered by Musk, you suddenly get a huge pullback before bitcoin rises again.
HarryPaget, as discussed elsewhere, Chinese mining pool F2Pool are periodically selling huge amounts of bitcoin (Google F2Pool for more info). It is they who are largely responsible for major yoyoing dips in bitcoin. But they should run out of bitcoin to sell soon.
It has closed just short of 24% below its intraday high and with a nasty spread of 14.58%.
About a 22% hit plus the spread if you bought earlier today as of currently.
ArgoBull, I have quite a lot of faith in ARB having sunk £55K into it. It is virtually certain to do much better than bitcoin in a bull market. But is still a leveraged play on bitcoin so risky as if bitcoin was not risky enough.
Iknownuffin, precisely it is very unlikely anyone would trash their own baby in which they have a high financial stake.
iceman888 it is still a leveraged play on bitcoin with more risk than bitcoin.
CLP may make good money. I am tempted to make a small punt but there are so many additional variables over and above what ARB deals with (more like an explorer miner than a junior miner (eg ARB)). Also at present the spread on CLP is a little scary.
Huge rise today but fairly horrible spread.
As we are all anon it should not be a problem revealing this info. I sunk £55K into ARB.L and still hold it. I also sunk £200K into COINXBE Bitcoin tracker just days before it became illegal to buy in the UK - I still hold it. I have also in the past had a load of bitcoin (and some bitcoin cash due to bitcoin fork) but have sold up from all that. One advantage of holding ARB.L and COINXBE is no risk of losing it.
FCA warning was just for crypto derivatives like COINXBE which was actually perfectly fine. I managed to fill my boots with COINXBE just before the ban. Such a shame it was banned, effectly a good bitcoin tracker with a few advantages over buying real bitcoin like not losing it. FCA conflating email bitcoin scams where yes you would lose all your money with the real thing.