GBTC/BTCUSD Shows Rebound Incoming - Credit BitFink
Credit to BitFink for helping me with a chart that compares GBTC value with BTCUSD value.
Yellow line - support showing that pre-halving February 27, 2017 (roughly 4 months pre halving) GBTC/BTCUSD touches support at 1.07.
Last times this 1.07 line touches price were pullback before bull-run, drop-off after peak or entering bear-market.
Chart is mostly parabolic moves with flat static in between. Flat areas like we are in now, are always followed by uptrend's shown in chart.
More that $250M was raised for Grayscale in Q3 with majority going directly towards Bitcoin.
If I were Grayscale, I would be pushing the current GBTC value down preemptively knowing that I will need to payout stockholders when the price goes parabolic soon.
If Grayscale is a single Bitcoin holder, they are accumulating $1B annually in fiat from GBTC investors.
Do you think they are keeping fiat in the vault (negative interest rates) or buying at this level (hard capped and deflationary)?
Thank you to those who teach me new methods of chart analysis and perspectives.
Yellow line - support showing that pre-halving February 27, 2017 (roughly 4 months pre halving) GBTC/BTCUSD touches support at 1.07.
Last times this 1.07 line touches price were pullback before bull-run, drop-off after peak or entering bear-market.
Chart is mostly parabolic moves with flat static in between. Flat areas like we are in now, are always followed by uptrend's shown in chart.
More that $250M was raised for Grayscale in Q3 with majority going directly towards Bitcoin.
If I were Grayscale, I would be pushing the current GBTC value down preemptively knowing that I will need to payout stockholders when the price goes parabolic soon.
If Grayscale is a single Bitcoin holder, they are accumulating $1B annually in fiat from GBTC investors.
Do you think they are keeping fiat in the vault (negative interest rates) or buying at this level (hard capped and deflationary)?
Thank you to those who teach me new methods of chart analysis and perspectives.