Argo Blockchain Share Discussion Threads

[brasso3] 17/11/2020 12:20

ARB breaking out. Next resistance is 10p.

[c0lin1] 17/11/2020 11:57

stop your squabbling everyone BTC @17k and ARB might be about to pop

[suffersnofools] 17/11/2020 11:53

That old chestnut - lolIt's always people that completely fail to understand TA who are the most vocal with their ignorance - sigh

[mnomis] 17/11/2020 10:57

I prophesise that this will never reach 10p and will fall from here ... great, emotionally hedged now (and am usually wrong)!

[yump] 17/11/2020 09:43

PS I prophesy that this will reach 10p and if that comes to pass it is proof that I am getting messages from a higher being.

[yump] 17/11/2020 09:39

Has anyone ever seen a chartist make a series of predictions and publish the results ? That is the acid test. The burden of proof is on them. Is a share going to burst through resistance or fall back from it ? Without any useful prediction its just a chart.

However, its surprising just how exactly some shares react to resistance or support areas (current price here for instance). That just proves that a lot of folk believe in charts and make them self fulfilling, as the actual prices at which charts appear to be significant bear no relation to the companies at all.

Not surprising then, that we have conspiracy theorists, creationists, scientologists and all manner of religions causing a massive drag on progressing from walking on all fours.

[horneblower] 17/11/2020 09:22

Hootza,
Your statement implies that "good chartists" know the future.♥

[brasso3] 17/11/2020 09:18

The historical charts of Bitcoin account for mainly retail investing. The future chart movements will be decided on mass adoptions (institutions, family offices, banks, governments). It is not possible to gauge how significant this will be.

[walter walcarpets] 17/11/2020 09:14

If charting always worked, everyone would be doing it. Charting takes no notice of fundamentals; clearly both are best used in tandem.

[hootza616] 17/11/2020 09:06

If a chartist tells you things never turn out the way you expect, they are not a very good chartist.

[suffersnofools] 17/11/2020 08:59

Exactly Brasso - MATHS driven being the key.

[suffersnofools] 17/11/2020 08:58

Yes likewise :)But I'm not talking about TA in the conventional sense, but the 4 year cycle driven by the halving which HAS repeated on every cycle so far. Most expensive phrase in trading - 'this time it will be different'

[purplepelmets] 17/11/2020 08:42

looking forward to the update in 2 weeks also

[brasso3] 17/11/2020 08:25

Half way through November and the share price has averaged $15,500 so far. Looking forward to the update in 2 months.

[uapatel] 17/11/2020 08:12

Fair enough HB, settle for 200K then :))

[brasso3] 17/11/2020 08:12

BTC is much more predictable than stocks/ commodities. That is why math will play out over charting.

[horneblower] 17/11/2020 08:07

SNF,
I've been a chartist for an awfully long time and know that the one thing you can be sure of is that things seldom turn out how you expect them to...especially in the short and medium term.

The problem with the $100k (and $300k) prediction is that it is too obvious and hence will almost certainly be wrong.☺

[gspanner] 17/11/2020 07:55

Arb will doubt open down!

[oakville] 17/11/2020 07:40

Small rise in BTC AGAIN.

[suffersnofools] 17/11/2020 01:22

Horneblower - that's not how BTC price patterns work though. The 4 year cycle seems massive outperformance post halving followed by multi year bear markets. More likely to see 50k again in 2022 IMO.

[hootza616] 16/11/2020 23:46

Better for the IRS and HMRC yes!20% Capital Gains to be paid on all profits.If BTC is 100k this will be at 40pIf Citibank is right this will be 100p before end of 2021.

[horneblower] 16/11/2020 23:46

If BTC rose to $100k, ARB would certainly rise to between 40p and 50p and might well go further.

However, I don't think BTC is likely to see $100k in 2021. $60k possibly, and $100k in 2022 pehaps.

Even so, multo exciting!

[oakville] 16/11/2020 22:39

Citibank Group’s Global head of Citifxtechnicals product, Tom Fitzpatrick expects to see the price of bitcoin peaking at $318,000 by end of 2021. Although he concedes that his prediction might seem improbable, Fitzpatrick argues that such a surge will still be the weakest rally for the digital asset when compared to other assets such as gold. He also adds that bitcoin is all about the”unthinkable rallies followed by painful corrections.” Bitcoin will see huge price swings before finally settling at the predicted price suggests Fitzpatrick.

Similar Trends
Writing in a report titled, Bitcoin: 21st Century Gold, Fitzpatrick makes the surge argument for bitcoin. He says the digital gold’s current trajectory appears to be similar to that of gold in the 1970s.

Before structural changes were implemented in the early 1970s, gold had spent 50 years of trading in the $20-$35 range. However, after changes were instituted gold surged. It recently touched a new all-time high in August before settling at just under $1,900 per ounce.

According to one report that analyzed Fitzpatrick’s paper, it is this “structural change in the modern-day monetary regime that ushered in a world of fiscal indiscipline, deficits, and inflation.” Therefore, the Citibank boss argues that bitcoin, which came to the fore at the aftermath of the “Great Financial crisis” of 2008-2009, is bound to have a similar run.

With the Covid-19 pandemic still haemorrhaging economies around the world, governments will continue responding to the crisis by printing more money. This in turn will benefit safe-haven assets which perform well in inflationary periods.

Bitcoin Better Than Gold
Still, Fitzpatrick explains that although gold is expected to benefit from the deluge of new money entering circulation, the precious metal has unique limitations that do not seem to afflict bitcoin. In his write up, Fitzpatrick notes:

Gold has restrictions such as storage, non-portable, and could possibly be even called ‘yesterdayR17;s news’ in terms of a financial hedge. Bitcoin is the new gold.

[trentendboy] 16/11/2020 22:06

100k will see this doubling and doubling againBig returns available here