Posted by fredsaid on 15th of Mar 2021 at 02:07 pm
Exactly 1 week ago Bitcoin was up about 5% but the crypto stocks
were getting crushed, only to bounce back twice as hard the rest of
last week. Today Bitcoin is down about 6% and the crypto
stocks are actually up. Interesting divergence don't you
think ? If it holds/continues into end of day I am going to
short RIOT, MARA, SOS.
Hey FredSaid - GBTC is trading at a discount to Bitcoin, despite
the down day today for BitCoin. As such, I am not surprised
that GBTC is up. If GBTC was trading at a premium when BTC
was down that would be different....
Posted by fredsaid on 16th of Mar 2021 at 03:52 pm
Interesting but I was using GBTC as a proxy to Bitcoin with the
expectation they should be relatively in sync. I was pointing
out that the stocks were inversely proportional to GBTC/Bitcoin -
the opposite was true last Monday. Been a winning trade so
far, still holding my puts in RIOT,MARA,SOS looking fora about
another 5% downside, hopefully in the am.
Exactly 1 week ago Bitcoin
Posted by fredsaid on 15th of Mar 2021 at 02:07 pm
Exactly 1 week ago Bitcoin was up about 5% but the crypto stocks were getting crushed, only to bounce back twice as hard the rest of last week. Today Bitcoin is down about 6% and the crypto stocks are actually up. Interesting divergence don't you think ? If it holds/continues into end of day I am going to short RIOT, MARA, SOS.
Hey FredSaid - GBTC is
Posted by z0ned on 15th of Mar 2021 at 09:44 pm
Hey FredSaid - GBTC is trading at a discount to Bitcoin, despite the down day today for BitCoin. As such, I am not surprised that GBTC is up. If GBTC was trading at a premium when BTC was down that would be different....
Interesting but I was using
Posted by fredsaid on 16th of Mar 2021 at 03:52 pm
Interesting but I was using GBTC as a proxy to Bitcoin with the expectation they should be relatively in sync. I was pointing out that the stocks were inversely proportional to GBTC/Bitcoin - the opposite was true last Monday. Been a winning trade so far, still holding my puts in RIOT,MARA,SOS looking fora about another 5% downside, hopefully in the am.
CAN, MSTR are down for
Posted by lapri24 on 15th of Mar 2021 at 03:17 pm
CAN, MSTR are down for the day already. Outsized gains by SOS (over 20%), SI (16%).