GBTC PREMIUM IS GREATEST WHEN BTC PRICE IS RIPPING AND GBTC PREMIUM IS LOWEST WHEN BTC PRICE IS TANKING. GBTC TAKES THE SENTIMENT SHIFTS IN EUPHORIA AND DESPAIR AND EXACERBATES THEM, AS IT REPRESENTS A LESS SOPHISTICATED SECTION OF THE MARKET WITH LESS INVESTMENT RESOURCES. IF ONE BUYS ON A BTC PRICE DIP WHERE THE GBTC PREMIUM TO NET ASSET VALUE CLOSE TO 30%, THE ...
GBTC When this name was at $20 we posted to short it - it's now at $4.50 and we see another 90% drop from here - yes you read that correctly - we're looking for sub .50c to consider getting long - we are not shorting here the easy money was made we're simply waiting.
Pretty self explanatory in the chart.
I am expecting increasing volume and hoping that this is the capitulation phase we (and the rest of the community) has been waiting for.
...before you know it we'll be in the accumulation phase.
Sticking with my projection from April to Q1/Q2 2019 as the right buying opportunity.
This is "World best indicator" what i've seen since I entered into the crypto world for trading.
Several days ago, I already called the bottom for bitcoin and published into tradingview.
Since bitcoin came out on earth, Mr. Nouriel Roubini said bitcoin and crypto is scam.
Indeed, in 2013, he leaved mention on his twitter saying,
"In good company with Gold. ...
Big chance has come again.
I 've told my friends since 2016 about btc,
but even in Dec.2017, they didn't seem to keep in mind.
Now, crowd sentiment is as very low as 2014~2015.
So this time my friends will do same mistake again.
Because this is MATH and also THE LAW OF UNIVERSE, in accordance with NORMAL DISTRIBUTION. (a.k.a. Gaussian distribution)
This chart is the premium between GBTC (BITCOIN INVESTMENT TRUST) and BTCUSD on coinbase
As you can see, the premium is at historical low and keeps falling which means that the retail is steadily desinvesting from Bitcoin; however, the price on the exchanges remain above 6k. hence only one possibility, market makers (brokers and other large holders) are ...
Where is the Bottom for GBTC? We've fallen to a localized low and have bounced. Tracking back to before the 2017 bull run I see a low at 5.37. But with the large number of retirement accounts purchasing a less than 1% interest in crypto exposure during 2017 this maybe the bottom with the stock spilt that occurred. My buy zone is under 6 dollars.. under 5 dollars ...
Dear friends, after the most recent bear market, price volatility and volume have subsided, but price has held constant. This appears to be the "doll drum" phase before the next bull cycle. In fact, I believe (based on current price action) that we have reached the tipping point, passed the 50% mark, where prices are now going to be rising (on average) at ever ...
think so. After topping out at almost $20K with talks of $50K and more, BTC did a triple zig zag and retraced more than 73.6%. It seems ready to bounced back. If wave (2) bottom is in, Wave (3) at 1.618 wave (1) extension is almost a 7 bagger.