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The Bitcoin miner & Arbs Block; Argo Blockchain, a listed company in the United Kingdom, has sought today to allay the unrest of shareholders a sharp decline in the last month of the bitcoin price and other cryptocurrencies, including & nbsp; Ripple's XRP, ethereum ether and stellar lumens.
Bitcoin is down 38% in the last month clearance triggered by a fork in the bitcoin cryptocurrency in cash led investors to save their cryptic and a series of warnings the price of the bitcoin could be much lower.
Bitcoin companies around the world, including cryptocurrency miners and software developers, have been under intense pressure since the beginning of last month, after a sudden drop in sales for a turbulent year for bitcoin and the broadest cryptocurrency market.
Bitcoin miners from around the world have been hit hard by a fall near 40% of the bitcoin price in the last month. & Nbsp; Photo credit: AFP / Getty ImagesGetty
Despite the downward trend in the price of bitcoin, which has dragged the cryptocurrency market down by about $ 700 billion from the start of 2018, Argo said that demand for products and services remained strong.
"Our mining packages are acquired quickly as we make them available and the demand continues to outgrow the offer," said Argo co-founder and director Mike Edwards in a commercial update to the market. "Despite the recent downturn in the cryptocurrency market, we are continuing to see a strong increase in revenues due to the successful execution of our growth strategy."
The price of Argo shares has plummeted since it was listed on the London Stock Exchange in August, recording the drop in bitcoin prices. Stocks at the beginning of August were valued at & £ 0.131 and fell to lows of & £ 0.043 at the end of last month. The company's shares have rallied 25% this morning, while investors have cheered for the bullish statement, but are still far from their list price of & £ 0.16.
The price of Argo's shares decreased while the price of bitcoin and other cryptocurrencies declined.Google
"The long-term prospects of Argo remain bright and we look to the future with confidence," Edwards added.
Argo today revealed that it sold 10,325 packages of crypto mining, compared with 4,200 on October 1.
Since last month, the sudden bitcoin sales, many have warned that the short-term future will be difficult for bitcoin miners, many of whom have reported having already turned off their machines while waiting for a price increase. To make a profit it is thought that bitcoin miners need bitcoins to be traded at more than $ 4,500.
Canaan Creative, the world's second largest producer of cryptocurrency mining platforms, revealed last week that it sold all of its Avalon-branded equipment for $ 200 per unit– Down for over $ 700.
The bitcoin price fell sharply last month after a period of relative calm.CoinDesk
The price of the bitcoin fell yesterday to $ 3,600, down from the historical highs of nearly $ 20,000 in December last year and over $ 6,500 at the beginning of last month.
The market has been worried for months that long-term promised institutional investments may not happen, as global banks and financial institutions delay or put their plans in place to launch bitcoin and cryptocurrency investment products.
A highly anticipated decision on a bitcoin-traded fund, expected by the Securities and Exchange Commission in the US at the end of December, has been carefully monitored for months after numerous delays, although recent market volatility has somewhat mitigated expectations . & Nbsp;
Many bitcoin and cryptocurrency members do not see the hour of a series of institutional products at the horizon, including bitcoin futures from the Nasdaq exchange in New York from early next year, as well as the owner of New York Stock Exchange (NYSE) ICE and Starbucks- supported Bakkt cryptocurrency investment platform.
Last week, Jeff Sprecher, president of the NYSE, said at the Consensus: Invest conference& Nbsp;bitcoin will survive its last sell-off.
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The bitcoin miner Argo Blockchain, a listed company in the United Kingdom, has sought today to appease shareholder agitation after a sharp decline in the last month of the price of bitcoin and other cryptocurrencies, including Ripple XRP, ethereum ether and stellar lumens.
Bitcoin fell by around 38% in the last month, as the sell-off triggered by a fork in bitcoin cash cryptocurrency has led investors to free themselves from their cryptic and a series of warnings the price of bitcoins could be much lower.
Bitcoin companies around the world, including cryptocurrency miners and software developers, have been under intense pressure since the beginning of last month, after a sudden drop in sales for a turbulent year for bitcoin and the broadest cryptocurrency market.
Bitcoin miners around the world have been hit hard by an almost 40% drop in bitcoin prices over the last month. Photo credit: AFP / Getty ImagesGetty
Despite the downward trend in the price of bitcoin, which has dragged the cryptocurrency market down by about $ 700 billion from the start of 2018, Argo said that demand for products and services remained strong.
"Our mining packages are acquired as quickly as we make them available and demand continues to outgrow the offer," said Argo co-founder and director, Mike Edwards, in an update on the market. "Despite a recent decline in the cryptocurrency market, we are continuing to experience a strong increase in revenues thanks to the successful execution of our growth strategy".
The price of Argo shares has plummeted since it was listed on the London Stock Exchange in August, recording the drop in bitcoin prices. The shares at the beginning of August were valued at £ 0.131 and fell to lows of £ 0.043 at the end of last month. The company's shares recorded a 25% rise this morning, while investors cheered for the bullish statement, but are still far from their list price of £ 0.16.
The price of Argo's shares decreased while the price of bitcoin and other cryptocurrencies declined.Google
"The long-term prospects of Argo remain bright and we look to the future with confidence," added Edwards.
Argo today revealed that it sold 10,325 packages of crypto mining, compared with 4,200 on October 1.
Since last month, the sudden bitcoin sales, many have warned that the short-term future will be difficult for bitcoin miners, many of whom have reported having already turned off their machines while waiting for a price increase. To make a profit it is thought that bitcoin miners need bitcoins to be traded at more than $ 4,500.
Canaan Creative, the world's second largest producer of cryptocurrency mining platforms, revealed last week that it sold all of its Avalon-branded equipment for $ 200 per unit– Down for over $ 700.
The bitcoin price fell sharply last month after a period of relative calm.CoinDesk
The price of the bitcoin fell yesterday to $ 3,600, down from the historical highs of nearly $ 20,000 in December last year and over $ 6,500 at the beginning of last month.
The market has been worried for months that the promise of long-term promised corporate investment can not be overcome, as banks and global financial institutions delay or put their plans in place to launch bitcoin and cryptocurrency investment products.
A highly anticipated decision on a bitcoin-traded fund, expected by the Securities and Exchange Commission in the US at the end of December, has been carefully monitored for months after numerous delays, although recent market volatility has somewhat mitigated expectations .
Many bitcoin and cryptocurrency members do not see the hour of a series of institutional products at the horizon, including bitcoins futures from the Nasdaq exchange in New York from early next year, as well as the owner of New York Stock Exchange (NYSE) ICE and Starbucks- supported Bakkt cryptocurrency investment platform.
Last week, Jeff Sprecher, president of the NYSE, said at the Consensus: Invest conference bitcoin will survive its last sell-off.
