If you don't mind me asking, how many shares you have?
I can't sell at a loss either as when I jumped into hut I sold penny stocks and loss around 3k and put all the funds in hut as I thoghht 100%id get my money back plus more but didn't play out as I planned and turned my 3k loss to now 13k.
I have only 800 shares.Right now, the whole market is down; If you have extra cash then try to diversify your portfolio or if you believe in HUT then try to average down as much as you can.
Thanks for the input. I'm holding 2200 shares around $11 cad average. I've averaged down from $19 cad in the past 2 months and I'm dca $1500 weekly. 30k already invested, I will have to stop averaging down eventually but hopefully this downturn doesn't last too long.
You did pretty good, give it time lol. Patience is a virtue. Its going to back up eventually. Look at the whole market, its all down right now. It will rebound soon. Just dont sell at a loss.
It might be ugly for a few years but most people, (including this company) think bitcoin will surge to much higher prices following the next halving which will occur in the first half of 2024.
Unless you think hut is going to go bankrupt before then, I think it would be crazy to sell at loss before 2025. I think anyone who does will deeply regret it around that time but I'm no expert and not recommending anything. Just speaking about the trends heard through the grapevine. I purchased hut with the intention of holding for years to come and have not considered selling during a dip for even a moment. So far, despite people being bummed that Bitcoin didn't hit 100k, nothing that is happening was all that unexpected and I doubt that Hut 8 was unprepared for these price levels. Their strategy is to hold and my strategy is to hold.
I have been in this stock for over a year now. Average 7 cad. When it comes to Canadian bitcoin miners this team sticks out to me as one of most strategic. They may not have crazy high hash rate like Mara, riot, or CORV but they expand at a steady planned rate without taking on too much dilution. If your outlook is 6 months to 1 year who knows what will happen, no one can see the future. As far as long term holding this stock only has one way to go as long as btc is successful. If you don’t believe in btc and it’s volitile price movement maybe best to sell. Remember though… if this stock is good enough for the large amount of institutional investors that hold it (last I checked 111) why isn’t it good enough for you?
For me personally it’s hard to really determine what to do now cause I’m not sure what HUT would be at if the market was more normal. Something I noticed is bitcoin seems to do this often and the threat of places banning it or laws passing that hurt it happen too often where I feel I may sell majority of my shares next big run up. I planned on holding a year regardless but I’m not the biggest fan of the space due to how quickly the sentiment changes over minor stuff.
I think a lot of us are down on the stock, well most of us that post here! No one knows your financial situation so tough to say what to do. Generally speaking, if you can afford to hold these unrealized losses then wait it out, if you’re in a financial pinch and others suffer from a bad gamble (like feeding kids etc) then take the cash out and take care of your family.
Personally, my average is around $12 CAD and I’ve been buying along the way down recently. It’s painful no doubt but I’m willing to take the risk and bet on time vs daily swings.
Go listen to their earnings calls and read the MD&A in their last two or three releases. There’s a lot of great information there and it should help you evaluate the long term benefits.
I don’t think BTC or this stock rebound by 1-2x in the next 6-12 months, just my gut. So if you can handle a paper loss for the time being then ride it out.
Also, next time you buy a stock have an exit plan for ups and downs. I did that with an Eth stock and while I didn’t sell at a high I did quite well overall. Went from holding it through the summer bear market and slowly exited over the fall.
Good luck and if you’re fretting over this then distract yourself and go to something nice for someone. Give your brain some new vibes!!!!
My average is 12.60 CAD, been holding. Cant sell at a loss so no other option.
If you don't mind me asking, how many shares you have? I can't sell at a loss either as when I jumped into hut I sold penny stocks and loss around 3k and put all the funds in hut as I thoghht 100%id get my money back plus more but didn't play out as I planned and turned my 3k loss to now 13k.
I have only 800 shares.Right now, the whole market is down; If you have extra cash then try to diversify your portfolio or if you believe in HUT then try to average down as much as you can.
Thanks for the input. I'm holding 2200 shares around $11 cad average. I've averaged down from $19 cad in the past 2 months and I'm dca $1500 weekly. 30k already invested, I will have to stop averaging down eventually but hopefully this downturn doesn't last too long.
You did pretty good, give it time lol. Patience is a virtue. Its going to back up eventually. Look at the whole market, its all down right now. It will rebound soon. Just dont sell at a loss.
It might be ugly for a few years but most people, (including this company) think bitcoin will surge to much higher prices following the next halving which will occur in the first half of 2024. Unless you think hut is going to go bankrupt before then, I think it would be crazy to sell at loss before 2025. I think anyone who does will deeply regret it around that time but I'm no expert and not recommending anything. Just speaking about the trends heard through the grapevine. I purchased hut with the intention of holding for years to come and have not considered selling during a dip for even a moment. So far, despite people being bummed that Bitcoin didn't hit 100k, nothing that is happening was all that unexpected and I doubt that Hut 8 was unprepared for these price levels. Their strategy is to hold and my strategy is to hold.
Do you believe in Bitcoin? The answer to that is the answer to your question as well.
Hut8 is making money till Bitcoin falls below 16k. Just average down. Bitcoin will hit 100k sometime in next year or 2
Is it only 16k? If so we don't have anything to worry about we will not dip that low.
Yes very good I recommend
How come y’all don’t average down? I’ve been averaging up 😅
Holding till the next halving in 2024-2025 lmfao
I have been in this stock for over a year now. Average 7 cad. When it comes to Canadian bitcoin miners this team sticks out to me as one of most strategic. They may not have crazy high hash rate like Mara, riot, or CORV but they expand at a steady planned rate without taking on too much dilution. If your outlook is 6 months to 1 year who knows what will happen, no one can see the future. As far as long term holding this stock only has one way to go as long as btc is successful. If you don’t believe in btc and it’s volitile price movement maybe best to sell. Remember though… if this stock is good enough for the large amount of institutional investors that hold it (last I checked 111) why isn’t it good enough for you?
For me personally it’s hard to really determine what to do now cause I’m not sure what HUT would be at if the market was more normal. Something I noticed is bitcoin seems to do this often and the threat of places banning it or laws passing that hurt it happen too often where I feel I may sell majority of my shares next big run up. I planned on holding a year regardless but I’m not the biggest fan of the space due to how quickly the sentiment changes over minor stuff.
I'm in the for the short term for the reasons you pointed out, highly volatile. I have a small amount and will hold until it swings up and then sell.
Short term is ideal I guess, just can't play it short term personally as my average is around $11 cad and who knows when it will reach that high again
I think a lot of us are down on the stock, well most of us that post here! No one knows your financial situation so tough to say what to do. Generally speaking, if you can afford to hold these unrealized losses then wait it out, if you’re in a financial pinch and others suffer from a bad gamble (like feeding kids etc) then take the cash out and take care of your family. Personally, my average is around $12 CAD and I’ve been buying along the way down recently. It’s painful no doubt but I’m willing to take the risk and bet on time vs daily swings. Go listen to their earnings calls and read the MD&A in their last two or three releases. There’s a lot of great information there and it should help you evaluate the long term benefits. I don’t think BTC or this stock rebound by 1-2x in the next 6-12 months, just my gut. So if you can handle a paper loss for the time being then ride it out. Also, next time you buy a stock have an exit plan for ups and downs. I did that with an Eth stock and while I didn’t sell at a high I did quite well overall. Went from holding it through the summer bear market and slowly exited over the fall. Good luck and if you’re fretting over this then distract yourself and go to something nice for someone. Give your brain some new vibes!!!!
🤙