have I missed something crucial or why is the AM price imploding on dividend day?
Another explanation USD/BTC rate. AM share price in USD remains relatively stable.
This is it guys.
When BTC dropped to 68, AM acted as hedge and went all the way up to +5.
We are now recovering on the BTC/USD side and AM is correcting back down.
Ehh, I still question the correlation to USD/BTC. You are buying a share in btc, to earn a profit in btc... div is paid in btc. Only fiat comes in with fixed costs like power, making the chips, that stuff, which is a fraction of what we take in. Unless someone can chart it for me and show me a good correlation, I do NOT think fiat prices have a huge effect on AM prices. I do not even consider fiat in any way when thinking if AM is a good buy or if I should be selling. I might if operating costs were ever a larger portion of our take.
BTC has a relative value. It is not decoupled from the rest of the other currencies. This is true for the other exchanges. USD is strong S&P500 tank. The FED announce moar QE equities soar. BTC nominated equities are no different.
What amaze me is how identical BTC economy work compared to existing systems (minus maybe Wall Street big players).