Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You aren't wrong, but we have to be careful about investing based off of technicals here. If you want to look at technicals, I would look at the technicals of Bitcoin over GBTC. GBTC follows Bitcoin, roughly sometimes, but it does.
Anyone have problems with ETrade not rolling their shares over correctly? How long does this usually take?
This thing is trying to find it's equilibrium very quickly. This is a good sign that the recent manipulation will not negatively affect us here and we should be good to go with a continued investment tracking Bitcoin.
This is especially good for the investors who have GBTC in their IRA to track Bitcoin as it will generally be a little longer of a play and not a flip. Confidence is restoring as it should.
RSI is looking good. Should balance between 1650 and 1850 given current Bitcoin price. RSI at 88 at first peak of just over 1700. Now RSI just over 60 while reaching the same price.
I know I have said that this is not a chartable stock, and I stand by that in the normal sense. However, this can now be used to make inferences on where the price should stabilize for the time being.
haha bid just got caught above the ask. People are getting frantic. hahaha don't see that too often
Can we vote to ban this guy? He continuously spams the board with fluff!
Crashing? Not so sure bud. Bitcoin was under $5K a couple months ago and everyone was cheering when it got to $11K. Now it is crashing? Get out of here. The market doesn't care because they've been around the block before.
Markets go up, go down all the time. That's what they do. Crashing is a different thing. Look at the year as a whole. Look at the quarter as a whole. Look at the month as a whole. This is not crashing bud.
You made a lot of quality statements.
However, charts are not showing that GBTC is oversold, and definitely not way oversold.
Yearly chart is showing RSI at 50. Right in the middle. Daily chart is up and down, but still in the middle ground.
I just PM'd Clutch. I don't want to type it all again but you could try seeing if he can pass the message along.
Bottom line, don't get sick. You should be fine, just start doing as much research as you can.
Bitcoin bubble?
I don't know you so I don't know how long you have been tracking Bitcoin, but if you are saying the bubble burst then I have a hard time thinking you have been tracking for too long.
Bitcoin has suffered some major tragedies that would have sunk this ship a long time ago if it wasn't legit and wasn't going to have much of a future. For example, Mt. Gox.
Most recently, China's exchange shut downs and JP Morgan Chase saying that it was a huge fraud, but Bitcoin has survived and thrived.
Bitcoin is not going anywhere until the US Government in tandem with other major world powers find a way to shut it down. At the moment, it is looking more likely that governments will find ways to employ Bitcoin themselves, only making it more powerful.
Bubble bursting? That is a enormous stretch. Bitcoin consolidating, more likely.
Everyone needs to be careful reading posters who post doom or boom. Do your own research and make your own judgement. DO NOT, I repeat DO NOT base your decisions off of people you don't know's advice.
Have fun. We will retrace slightly, over-correcting, and then begin to trade as normal again, following Bitcoin as best as possible.
What did you buy at? Be careful on this board. We had a wave of manipulators come through here convincing people to buy at tremendously over-valued prices.
Seems like you may have bought a futures contract. You should be fine, just may be awhile longer than you expected to see gains. You could always average down, but be careful here. This is unregulated at the moment.
Don't worry about this. This is not like buying a share of a company.
The $3,500 range was unrealistic.
I can appreciate this post, but I will have to disagree on various points you made, respectfully.
You've been wrong for 2 days straight now, maybe 3. Why should anyone believe you now?
Two or three days ago I posted that I believed this would take a big hit very soon. The clowns here tried to patronize me.
It happened sooner than I expected. They should be embarrassed. I would be embarrassed if my life revolved around spouting nonsense to try to scam people, when it was painfully obvious as well.
Not saying you should trust me or believe me, but I am sure I am more trustworthy than those clowns that come here and try to highjack our board.
*Gold has a fixed supply.
Gold is a lot more mature than Bitcoin.
Bitcoin is still an infant.
Do you have any reason behind your $7,500 support value or just pulling it out of thin air? Do you know why Bitcoin is more volatile than Gold? Do you know why Gold is highly manipulated and kept down? Do you know the whole story behind Gold and how it came to be manipulated, as you suggest?
The part that makes me wary of what you are saying is you are acting like Bitcoin already did all of its appreciation. The masses are just now starting to hear about it and ask questions.
There is a ton that you need to understand before you throw out random opinions for what you think the price of Bitcoin should be. You need to understand how Bitcoin is affecting all the different areas around the world. You need to understand what Bitcoin means to the Financial Industry. You need to understand what benefits and detriments to governments Bitcoin brings. You need to understand exactly how Bitcoin is created, stored, transacted. You need to understand what Bitcoin means to third world countries. You need to understand that we are just now seeing major players in the financial markets take positions on Bitcoin. What is their motive? What do they see? There are so many nuances and intricacies that you need to be aware of on a very very deep level.
*Gold has a fixed supply.
Gold is a lot more mature than Bitcoin.
Bitcoin is still an infant.
Do you have any reason behind your $7,500 support value or just pulling it out of thin air? Do you know why Bitcoin is more volatile than Gold? Do you know why Gold is highly manipulated and kept down? Do you know the whole story behind Gold and how it came to be manipulated, as you suggest?
The part that makes me wary of what you are saying is you are acting like Bitcoin already did all of its appreciation. The masses are just now starting to hear about it and ask questions.
There is a ton that you need to understand before you throw out random opinions for what you think the price of Bitcoin should be. You need to understand how Bitcoin is affecting all the different areas around the world. You need to understand what Bitcoin means to the Financial Industry. You need to understand what benefits and detriments to governments Bitcoin brings. You need to understand exactly how Bitcoin is created, stored, transacted. You need to understand what Bitcoin means to third world countries. You need to understand that we are just now seeing major players in the financial markets take positions on Bitcoin. What is their motive? What do they see? There are so many nuances and intricacies that you need to be aware of on a very very deep level.
Phil you are definitely correct. It DOES make sense for GBTC to operate at a premium. The access to Bitcoin is great. The ease of trading is great. It does deserve to operate at some premium.
But, what premium are you comfortable with? 5%, 15%, 50%, 75%
Ideally, I would think (totally just an opinion of mine) somewhere between 8-12%, going as low as 5% and as high as 20%.
I would be happy in those ranges.
This is not comparable to Google. Google is a massive company. GBTC does nothing but hold Bitcoin.
Let's strip the Google part of your statement and take a look at what else you said.
You are buying GBTC based on the value you think it will have in the future. This is called speculation. We will come back to this.
Bitcoin itself is a speculative investment. The buying and selling of Bitcoin on through exchanges determines what the value for Bitcoin is. Through speculation and the market, as of today Bitcoin is worth between 16K to 18K. This is the speculative value.
GBTC only holds Bitcoin. Do you see where I am going with this?
You are adding an extra level of speculation to Bitcoin which already has a market value. Speculation is already built into that price.
This may sound confusing, but you are paying more for something because you believe in the future it will be higher than it is today, even though the market has already determined what they believe to be a good price. And here at GBTC, you are already paying much higher than that determined value.
Basically, you are doing yourself a disservice for thinking this way.
This is not a future's contract and shouldn't be treated as such.
Part of me feels like you know what you are talking about and part of me feels like you don't fully understand the differences between Bitcoin and gold, etc. If you haven't gotten into Bitcoin yet, I am wary.
Weren't you just saying "Bitcoin on the rise, now over $18,200"?
Where on earth are you getting your numbers?
Please, please give me an explanation of why you think GBTC will get to $5000.
At that price, what do you project Bitcoin price to be?
This guy is funny. You are using all the tricks learned playing pennies. "Float locked up", "Shares are scarce", "to the moon", "tomorrow, tomorrow, tomorrow".
It is clear that this is out of your league. You can't use penny tricks here and you are showing everyone your hand.
You are an old dog in a new world.
Good catch. There are some hungry hippos foaming at the mouth trying to figure out how to take advantage of retail consumers. Someone with big pockets and connections will find a way to do it and it is in our best interest to be up to date on these possible issuances.
Good post.
Good luck, but if it becomes circulated, I will sign and pass along.
For everyone who is new to iHub and has been around here the past few days, notice the disappearance of Decimus this morning.
Notice the price fluctuations when he began coming here and today when he fled. Notice the tremendous sells yesterday morning and this morning.
iHub is notorious for this type of behavior. Be wary whenever new posters show up to spout glorious praise and vice versa. Stay smart out there.
FYI, Bitcoin is not having problems. The only reason it has been stagnate and has dipped today is due to the door opening to Bitcoin Cash. If you do not know what I am talking about, do some web surfing and find info. It's much better to research for yourself than taking someone's word for it. Once the dust settles, Bitcoin will be all but fine.
If you are looking into acquiring something surrounding Bitcoin, my opinion is that purchasing actual Bitcoin is the place to put your money today.
Again, Bitcoin is being slightly undervalued due to Bitcoin Cash. Bitcoin Cash, in my opinion, is not a threat. Others may disagree, but this is my opinion after personal research.
GBTC is still overvalued here for the time being. Pay attention to premium.
Happy Holidays
The people this board has attracted over the last couple weeks is hysterical. It's just too bad for the people who come here without much background knowledge that may fall prey to them.
Charts are NO GOOD here.
Why not talk about it in context then rather than fear mongering? Honest discussion is not a bad thing, but blindly bashing or blindly pumping is dangerous.
Very strong post.
Ok, now stop with this.
South Korea does not matter to Bitcoin. Bitcoin is global and the disruption of an exchange or two or three does not matter.
Everyone needs to find the happy medium between bashing and pumping and let this thing trade as it should.
I apologize if you think I am part of the problem. I have a real hard time letting people manipulate a good stock.
This is a Good stock, a GREAT stock. BUT, it needs to be trading normally, at a steady premium. It deserves our respect.
I am not bashing the stock, I am disgruntled by the posters who come here to take advantage.
Did the exact same thing. At $2500, the premium had already ballooned out of control. That's when the pumpers came in and inflated the price to steal from good people.
I am just hoping the people who got scammed can hold out long enough to reach those prices again once this is back to operating normally so they don't lose money. I hate seeing people lose money on this OTC crap.
Very important to always ask why. Why is this moving the way it is? Why are posters surging to the board to push false narratives? If something doesn't make clear sense, ask why.
At the current Bitcoin price, you are very correct.
Only reason to buy is when you become comfortable with the premium. If I am understanding your thoughts, I agree that this is still not comfortable.
I am guessing you sold here because you realized how over-valued this became. You didn't sell because it is a bad asset, but because someone drove the price too high and it was a good time to take profit before getting back in where it makes sense.
When I sold, it was because the price was $1,000 higher than I thought it should be.
"I will not buy a 60" Smart TV for $2000. It may be a nice tv, but I know I can get it for <=$1,000."
Glad to see the beginning of us taking this board back. I can't stand seeing new posters come to these boards and try to take advantage. Unlike the shell companies we call pennies, this doesn't need to be pumped. If you begin to think someone may be pumping, ask yourself why they would do such a thing. It is 99.99% of the time not due to it being in other investors' best interests.
Premium is the ONLY thing investors should look at and make trading decisions on here. Please continue doing your own research and critical thinking to navigate the ebbs and flows.
Don't take anyone's words for fact, even my own. Be diligent and know what you are buying/holding.
Getting frantic because everyone is on to him. Doesn't know the difference between talking and taking. Take your money and leave. You are bad for all the good people here that know what they are doing.
Your thoughts are in line with mine and others.
We got highjacked here for a little while when some poachers saw an opportunity to steal money from good people. Hopefully they will take their money and leave soon.