A new phenomenon in the world of crypto currency miners has started occurring over the past few weeks as the stock price of bitcoin miners have stopped at the very least tracking the price of bitcoin. It’s strange because as everyone knows if the price of the commodity you mine goes up, so does the revenue and profit for the company, so why is Argo Blockchain falling?
It’s a strange one really and quite difficult to decipher. It’s definitely one of the better miners out there and as we know, super profitable. It doesn’t however, have a listing on one of the big US exchanges like NASDAQ which might be a big cause of this problem. It really wouldn’t surprise me if what we are seeing is just all of the people that invested during the hype months like back in February beginning to exit their positions as it started to go flat towards the end of March.
I’m not complaining though, the disconnect between perceived and real value is where value gaps are created, I am a happy man when these instances occur because it allows for me to pick up stock at a cheap price.
This isn’t financial advice by the way, do what you want and don’t try to blame me if it goes wrong because it’s on you, dummy.