I am queite aware that gbtc trades at a premium to NAV of
their bitcoin holdings....Nevertheless although that premium
fluctuates, it has mantained a high correlation...if the 25%
premium is any good as an indicator, gbtc shall be trading in
the region of 34 for a 27/28 k price of bitcoin...let's
see!
As far as regulators wanting to limit investors interest in
bitcoin and other cryptos, nit is othing that I get too much of a
surprise...It is exactly the same reasoning that was used
with gold in the past (making it ilegal to hold).
The end result has been always the same when the option
is/was debasing a currency that is or has been the reserve
currency of the world...if it had not this status, the end result
would be even more drastic and severe ( just look at
other latin american currencies ).
Yes - GBTC is likely to trade higher on Monday's open if Bitcoin
remains near current prices. Here is the best advice - devise
a plan that fits YOUR beliefs and execute upon that plan.
Bitcoin has limited supply and increasing demand of late
which has led to increased upside movement - large gyrations of
late so remain prudent and respect the charts.
Posted by joepiper on 27th of Dec 2020 at 12:49 pm
I like Steve's polite and refined admonition:
"devise a plan that fits YOUR beliefs and execute upon that
plan. " I would express it more bluntly like "Be
quick or be dead!" Looks like a blow off top to me.
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Thanks Steve for both articles. I
bitcoin // gbtcMatt, please address your thoughts on GBTC on ...
Posted by alseq on 27th of Dec 2020 at 11:34 am
Thanks Steve for both articles.
I am queite aware that gbtc trades at a premium to NAV of their bitcoin holdings....Nevertheless although that premium fluctuates, it has mantained a high correlation...if the 25% premium is any good as an indicator, gbtc shall be trading in the region of 34 for a 27/28 k price of bitcoin...let's see!
As far as regulators wanting to limit investors interest in bitcoin and other cryptos, nit is othing that I get too much of a surprise...It is exactly the same reasoning that was used with gold in the past (making it ilegal to hold).
The end result has been always the same when the option is/was debasing a currency that is or has been the reserve currency of the world...if it had not this status, the end result would be even more drastic and severe ( just look at other latin american currencies ).
Cheers and all the best
Coinbase Link to Currently Bitcoin Price
Posted by steve on 27th of Dec 2020 at 12:22 pm
Yes - GBTC is likely to trade higher on Monday's open if Bitcoin remains near current prices. Here is the best advice - devise a plan that fits YOUR beliefs and execute upon that plan. Bitcoin has limited supply and increasing demand of late which has led to increased upside movement - large gyrations of late so remain prudent and respect the charts.
https://www.coindesk.com/price/bitcoin
I like Steve's polite and
Posted by joepiper on 27th of Dec 2020 at 12:49 pm
I like Steve's polite and refined admonition: "devise a plan that fits YOUR beliefs and execute upon that plan. " I would express it more bluntly like "Be quick or be dead!" Looks like a blow off top to me.