Argo Blockchain Share Discussion Threads

[suffersnofools] 16/12/2020 10:03

I think we get a decent sized move by the weekend. Poss sooner.

[ragnarr] 16/12/2020 09:45

Whats your timescale snf ?

[hootza616] 16/12/2020 09:44

Order accepted, I now own RICA!

[suffersnofools] 16/12/2020 09:24

Not quite how I see it. I don't have 19.5k as any significant horizontal resistance. Rising resistance is coming from the ceiling of the rising uptrend - currently around 19.6k - BTC has had repeated failures breaking above which is turning into a not so pretty looking bear flag at the moment. Traders will be looking at that so if I was a Whale i would fake out to the downside to draw the sellers in and then drive up to squeeze them over 20k!

[ragnarr] 16/12/2020 08:32

Bulls buy the dip again after Bitcoin price rejects at a key resistance levelBulls are keen to buy each Bitcoin price dip but is this enough to avoid repeat sell-offs at $19,500?Bulls buy the dip again after Bitcoin price rejects at a key resistance levelMARKET UPDATEFor the second day in a row, Bitcoin bulls have attacked the $19,500 level in an attempt to flip the crucial level from resistance to support. Each attempt to overcome the resistance is has been rejected near $19,550 but Bitcoin's swift recovery from the Dec. 14 drop to $19,050 shows that investors remain interested in buying every significant dip.Crypto market daily price chart. Source: Coin360At the moment, the general consensus among traders is that flipping $19,500 to support will open the door to a new all-time high at or above $20,000. According to Cointelegraph contributor Micheal van de Poppe:"If we get the breakout above the resistance and we print a new ATH, it's more important to see the $19,400-19,500 area become support rather than hitting that ATH."Van de Poppe further explained that the current bearish convergence on the daily timeframe is not confirmed and he stressed the if Bitcoin price fails to reclaim $19,500 as strong support the likely outcome is that the price will drop to $18,500 where traders will look for a better entry.Even as Bitcoin struggles to hold onto $19,500, the daily chart shows the price continuing to make daily higher lows. Since recovering from the Dec. 11 drop to $17,586. BTC has also made daily higher highs which is a further signal that the digital asset is in a strong uptrend.While Bitcoin price attempts to trade in a new range, a handful of altcoins pushed higher with double-digit rallies.Elrond price surged 28% during the day and is currently up 115% in the past two weeks. SushiSwap's governance token, Sushi, also rallied 9.84% to $2.80 and is up 44% over the past 4 days.Bancor was the most notable gainer of the day as it secured a 34.5% rally to $1.70 on the news of the Coinbase Pro listing that took place today.According to CoinMarketCap, the overall cryptocurrency market cap now stands at $566.6 billion and Bitcoin's dominance rate is 63.6%

[suffersnofools] 15/12/2020 22:42

HtTps://www.google.co.uk/amp/s/dailyhodl.com/2020/12/10/ex-goldman-fund-manager-says-ethereum-may-attain-larger-market-cap-than-bitcoin/amp/

[suffersnofools] 15/12/2020 22:26

Ragnar - the last para re protection from regulatory is an interesting aside. Many potential investors are still worried about potential anti-crypto legislation, partic in the US. Of course we know BTC itself can't be stopped but overheads like KYC are obstacles. Having powerful holders can only help assuage those fears.

[hootza616] 15/12/2020 22:14

Another possible exposure to BTC in SIPP/ISA.Will be many more investment funds moving this way and with uninvested FIAT losing 15% a year people will be flooding to these stocks! Hoping my fill or kill order gets placed at open.

[brasso3] 15/12/2020 21:43

Its feels like its endless on how many large companies/ institutions are moving towards BTC. Long may it continue. As Raoul Pal states, Everyone new price/ market cap. threshold that is breached will bring in someone new.

[ragnarr] 15/12/2020 21:16

The institutional flood into bitcoin continuesA United Kingdom-based investment manager has added Bitcoin (BTC) to its portfolio, underscoring the ongoing institutional shift toward digital assets.Ruffer Investment Company Limited, an investment manager with shares listed on the London Stock Exchange, has disclosed its new Bitcoin strategy.In a performance update and manager comment posted on Tuesday, Ruffer said it has added Bitcoin to its Multi-Strategies Fund, primarily as a defensive move against the "continued devaluation" of fiat money. The fund now holds roughly 2.5% of its assets in Bitcoin.The allocation was made in November after Ruffer reduced its exposure to gold in favor of BTC.The firm said:"We see this as a small but potent insurance policy against the continuing devaluation of the world's major currencies. Bitcoin diversifies the company's (much larger) investments in gold and inflation-linked bonds, and acts as a hedge to some of the monetary and market risks that we see."Founded in 1994, Ruffer has 20.3 billion euros ($27.2 billion) in assets under management as of Nov. 30. The firm has roughly 6,600 clients worldwide compromised of individuals, families, pension funds and charities.Ruffer's move echoes a recent call by JPMorgan Chase that Bitcoin is quietly eating gold's market share. In a note to clients that was released last week, quantitative strategies led by Nikolaos Panigirtzoglou said Bitcoin adoption could lead to "structural headwinds" for gold.The strategists wrote:"If this medium to longer-term thesis proves right, the price of gold would suffer from a structural headwind over the coming years."2020 has gone down as a transformative year for Bitcoin, with firms like Grayscale, PayPal, MicroStrategy and MassMutual rewriting the narrative on digital assets. Crypto pioneer and ShapeShift CEO Erik Voorhees believes powerful institutional players will shield assets like Bitcoin from government overreach. With major institutions in play, the Bitcoin market is forming a natural "bulwark" against intrusive regulations.

[brasso3] 15/12/2020 19:22

I wont get excited until it closes above $20k on the weekly.

[trentendboy] 15/12/2020 19:13

Blown past 19400Will pop over 20,000 any timeThen the big publicity will drive it higher

[brasso3] 15/12/2020 17:46

BTC dancing with the $19.4k level again.

[suffersnofools] 15/12/2020 17:26

By any metric ARB is very undervalued. Just need to be patient and wait for crypto mania to kick in. Look forward to next year when we'll go up in value by 10p in a day rather than being priced at 10p!

[brasso3] 15/12/2020 13:57

If they are selling 50 BTC a month at $19k for the next 6 months that should easily cover the running costs.

$19k x 50 = $950k.

[uapatel] 15/12/2020 13:55

Yep and if BTC price rises the margins will increase further, needing less BTC equivalent to pay off the overheads. More for the HODL pot.

[brasso3] 15/12/2020 13:41

I also think most missed that ARB added nearly 40 BTC to the reserves through November. Surely they can add the same in December. With the increase in mining capacity and maybe a modest 10% increase in BTC price, I think 50 - 75 BTC per month is possible.

Once ARB can get to 500 BTC in reserves that gap with peers will close fast.

Oct - 137
Nov - 178
Dec - 220
Jan - 260
Feb - 300
Mar - 350
Apr - 400
May - 450
Jun - 500

[gspanner] 15/12/2020 13:37

60-90 days - an eternity for the gamblers who buy this!

(some exceptions Brasso, if only thee and me)

[brasso3] 15/12/2020 12:57

ARB are now 60 - 90 days away from having a significant increase in mining capacity. I do not feel like the market has priced this in yet. Even with a flat BTC price over the next few months I think ARB deserves a price of 15p - 20p.

[yump] 15/12/2020 12:32

There are quite a few stocks on pe's of 20-25 once they've proved several years earnings growth - some get silly ratings (ASOS), presumably because of institutional chasing. I think PETS is on about 20 at the moment and that isn't even a trendy tech share. ARB just got a while to go I think before we can point at a yearly earnings jump, that isn't just from a low profit starting point.

[brasso3] 15/12/2020 12:18

SNF is correct about those PE forecasts. I think 10 - 15 is as as it gets on the European markets. A NASDAQ listing and a few TV adverts with Kim Kardashian might get us to a PE of 25.

[mnomis] 15/12/2020 11:33

SnF - all sensible stuff. Based on Tesla, I will never say NEVER about anything when it comes to Mr Market - who knows if BTC reaches $100k that Arb does not get into bubble territory (but certainly not a sensible investment thesis, agreed). Time to buy Tesla puts on 21st close?

[yump] 14/12/2020 21:03

I always used to think that if fashionable popularity could fly loss-making rubbish up to silly multiples of revenue, then anything that actually had profits would be even better, but it doesn't seem like that. Once you've got earnings, they can be measured ;((

Couldn't ARB take over say 5 other miners, do a £50mln fundraise and then embark on the PR trail, with all the investor roadshows, then we'd be away to the races.

Me, cynical ? surely not.

[suffersnofools] 14/12/2020 20:46

Blonity's stuff is all good but we are NEVER going to get a PE of 25 imo. Certainly not unless we move to a TSX dual listing. A PE of 25 prices in years of future growth and I think most serious investors are aware that we could have a fallow year or two after this bull cycle.

My own calcs use a PE of 12 and a conservative (imo) BTC bull-cycle end target of $100K. However, that still gives me a possible 20+ bagger from here. Which still makes it a HUGE buy versus holding BTC as I'm looking for possible 20x from current levels versus 5x from current 20K BTC to my 100K target. Add in the fact I can hold tax-free in my SIPP and via spreads and it becomes even more attractive. I think it's these benefits that have still to be priced in by the market. 25p @20K BTC is fair. 200p @100k BTC if they can HODL enough.

Of course longer term holders can think of £1m BTC in 2025 :D