Argo Blockchain Share Discussion Threads

[ragnarr] 26/11/2020 07:32

Bitcoin price suddenly drops 11% as whales move BTC to exchangesA Bitcoin price correction to $17,250 fulfills analysts' expectations as $20,000 all-time highs prove difficult to overcomeMARKET UPDATEBitcoin (BTC) dropped $1,000 in minutes on Nov. 26 as a long-awaited pullback hit the market at close to $19,500.Data from Cointelegraph Markets and TradingView showed BTC/USD experiencing major volatility overnight on Wednesday.After nearly hitting $19,500 during the day's trading, after-hours saw a period of bearish indecision that ended in a sharp sell-off. Bitcoin then bounced at $17,250, capping daily losses of around 5%.Many analysts had already warned that the recent gains were due for a pullback, among them CNBC host Brian Kelly and trader Tone Vays, who on Thursday forecast a dip to $14,000. Meanwhile, several metrics have also hinted at a looming correction. Among them is the popular Crypto Fear and Greed Index, which has remained at record high levels throughout November.The sudden price drop came in tandem with large-volume investors depositing BTC to exchanges - presumably with the aim of taking profit near Bitcoin's $20,000 all-time highs."All Exchanges Inflow Mean increased a few hours ago. It indicates that whales, relatively speaking, deposited $BTC to exchanges," Ki Young Ju, creator of on-chain analytics resource CryptoQuant, summarized to Twitter followers."But long-term on-chain indicators say the buying pressure prevails. I still think we can break 20k in a few days."Exchange inflows in November. Source: CryptoQuant/ TwitterBitcoin's fundamental indicators support the bullish theory going forward with the mining difficulty set for a 7.3% uptick in three days' time and hash rate continuing to grow.

[brasso3] 26/11/2020 06:59

Bitcoin needed to cool off. Hopefully by xmas it will meet the 21 week MA and move up from there.

[hootza616] 25/11/2020 23:01

Only Stellar is immune!

[horneblower] 25/11/2020 21:04

When Bitcoin sneezes, the alts catch covid...haha.

But it's not a sneeze, it's just a sniffle!

[brasso3] 25/11/2020 20:06

DT = Donald Trump

or

DT = Double Top

[sideshowbull] 25/11/2020 19:14

Pretty sure Brass will know.

[hootza616] 25/11/2020 19:10

What does it mean SSB?

[brasso3] 25/11/2020 17:57

Argo
@ArgoBlockchain
·
29m
"Paper money is slowing going away. What will replace that is all forms of digital currencies…” says
@Dan_Schulman
,
@PayPal
CEO.

#BTC
#ARB

Worth a watch:

[trentendboy] 25/11/2020 17:11

Taking a breather for a day - seems sensible.

BTC stalling but will push on again I am sure

[suffersnofools] 25/11/2020 17:02

I know no one apart from me thinks this is going to have a correction at any point BUT a couple of downside targets.

Daily rising trendline support 18350
20 day EMA 17100 - might take a nibble if we get an opp here

On the 4hr strong support @18800

[suffersnofools] 25/11/2020 16:03

Lobotomy not take Frenzy ;)

[topazfrenzy] 25/11/2020 15:50

nope what you stupid old bore!

[topazfrenzy] 25/11/2020 15:45

Well one thing is for sure, there aren't enough Bitcoins being mined to go round ... so do your sums innit

[topazfrenzy] 25/11/2020 15:41

BTC may keep going to $25,000 without any meaningful correction, $50,000 even?

[bandflex] 25/11/2020 15:29

Thanksgiving tomorrow and US markets close early Friday, so a good chance of Bitcoin weekend type shenanigans as a big chunk of the worlds crypto players take a long weekend. Big swings up and down.

[ragnarr] 25/11/2020 15:14

Payment processing giant PayPal made its way into the crypto-industry after an announcement to support dominant digital currencies like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). Fast-forward to November, the company announced that "all eligible PayPal account holders in the U.S. can now buy, hold, and sell cryptocurrency directly with PayPal." Most recently, PayPal's Schulman, the CEO, told the public that PayPal users will be able to transact using cryptocurrencies as a funding instrument across 28 million businesses in 2021. "Early next year we're going to allow cryptocurrencies to be a Funding Source for any transaction happening on all 28 million of our merchants and that will significantly bolster the utility of cryptocurrencies"PayPal is the next big thing in CryptoThis will undoubtedly impact the market and take adoption to never-before-seen levels. To give a basic insight to what this means for Crypto, PayPal has over 300 million active users, the company's network is so large that it would be the United States 21st largest bank if it were one. There's no denying that PayPal is trying to break into the growing market of consumers who are flocking to digital payments and digital forms of currencies. PayPal is convinced that Bitcoin is already on the verge of mainstream adoption; a conviction that many incoming institutions share."As paper money slowly dissipates and disappears from how people are using transactions, central banks, especially on the retail side, will need to replace paper money with forms of digital fiat currency,"2020 was the introduction of many different institutions to the world of cryptocurrency. Traditional investors hopped in, billionaires didn't look too far in their search for an alternative asset to hedge against inflation, they bought into Bitcoin. Defi also carved a niche for itself in the industry and very soon, Ethereum's widely anticipated upgrade will make its way in the industry, it is, therefore, safe to say that 2020 was a big year for Bitcoin and the entire industry of cryptocurrency and blockchain.The following year could potentially become the defining curve for the industry as crypto-users will be able to use Bitcoin on many new different platforms. PayPal, like most other fintech companies that announced their interest in cryptocurrency this year will bolster a wider use of crypto. Surely, these big guys are changing the game, but a commonly asked question is how much and how fast.A handful of analytic predictions point to a possible "change in market dynamics," but this is already happening. The bull run is said to be a product of the accumulated buying activities. Apparently, buying pressure led to a shortage of coins and has influenced the pre-set supply of BTC and its current price.

[suffersnofools] 25/11/2020 14:43

Real battle going on at this level. Bears know if they lose this level we get a new ATH and another few thousand points upside.

[bandflex] 25/11/2020 14:13

We are in warrant territory now.

10230000 exercise at 8p, of those 7980000 expiry 23 Feb 2021, the rest expire in 2023.

The 7.98m represent about 2.7% of shares in issue.

[qs99] 25/11/2020 14:06

Arb moving back up now

[suffersnofools] 25/11/2020 13:59

The big fish are trying to drive out leveraged longs on the exchanges at the moment. Nice whipsaw!

oakville - ARB is still outpacing BTC since the move up from 10k.

[oakville] 25/11/2020 13:53

Lagging like an old dial up network. Should be 14p + now. Cheap as chips.

[qs99] 25/11/2020 13:51

BTC on a clip again

ARB behind the ball me thinks, may edge back to blue if BTC keeps rising today

DYOR