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I’d still be Golden if they happened. Many here have been here for a couple of years. Personally been here since the beginning of GBTC. It’s all profit for me. Just a matter of how much profit: 20 bagger or 30 bagger is my only dilemma! LOL. Never scared!!!
I totally missed the emergence of this stock. Another great way to benefit from the stock market and crypto combined. Anticipating very nice returns from this. Got into G$TC when it first started and been winning ever since! Good luck
To all.
Yep that makes sense. Glad
You’re along for the ride. Enjoy it. This is my second time around. Just as fun as the first one!!!
I respectfully disagree. I don’t think this is FOMO. I think this is real sustainable growth. There will be profit taking but by and large these are “strong hands”.
This run feels more stable and long term
Compared to the one back in 2017/18. I think we may sit here ($28-32k) for a short while before the next growth spurt to $40k. But then it’s bitcoin so who knows??!!! One thing is this doesn’t feel like a FOMO run like before. Feels like people are wisely investing in bitcoin and holding it for intermediate to long-term.
Some bought at $600+. I hopefully they can net it against some gains otherwhere. Tough lesson. I feel for them.
Ethe is making it ma way closer to its underly asset value. At this rate it should be down to $30/40 per share next week
Sorry I don’t understand your point. I’m being sincere here too not arguing. My point is this was at $600 a few weeks ago and now it’s at $80. I believe this will drop until it reaches the proposed .09 of ethereum value. I’m saying the share structure might create a premium. It was super low when I checked it. That always plays a role. That’s my point.
Consumer Advice from investor. This will continue to drop until it gets near its proper asset value which is about 1/10 of the value of ethereum. Right now that’s about $29/share. It may stabilize at $35/share but I wouldn’t recommend buying until this. I watched the same thing happen to GBTC when it came to market. Just some friend advice. Go back and check trading pattern of GBTC when it went public if you don’t believe or trust me.
Too late to buy the dips says this article. Interesting read.
https://www.google.com/amp/s/www.newsbtc.com/2019/07/04/crypto-analyst-max-pain-bitcoin/amp/
Too late to buy the dips says this article. Interesting read.
https://www.google.com/amp/s/www.newsbtc.com/2019/07/04/crypto-analyst-max-pain-bitcoin/amp/
There won’t be any real rise in value either. Just a way for Facebook to cut credit card and processing fees.
Sounds about right. I could see it being higher just due to super low float and if investors are really speculative and tie this to the earlier days of GBTC
It’s still finding its right price. $100 is still too much of a premium (+200%). Look for this to move closer to $30/$40. Remember it’s supposed to be approximate 1/10 the price ethereum. Once there it will move nicely with ethereum value.
The premium makes the stock price positively/negatively correlated with bitcoin from time to time.
This will take a while to get in alignment. If you were around for the launching of GBTC it traded at crazy premiums for the first month. It was all over the board, gapping up and down for no reason. This will come into alignment of one share equaling approximately .09 ethereum. There will be a premium but I’m guess it will be 20-30% at most. I would be sitting in the sidelines until this hits $20/30 share depending on ethereum prices.
Everyone entitled to their opinion. I will always respect that. My only point is use of words like fraud is technically incorrect. BB’s are places to exchange idea and suggestions and opinions. That includes negative ones too. I think that’s necessary. So I’m not saying critiques aren’t welcome or necessary. They are! Can we stay on point and not use terms incorrectly is all I’m respectively asking.
Fraud is a pretty strong word. Technically it means it doesn’t exist or financial records or gains are made up. It is volatile and controversial sure, but crypto is not a fraud. If you want to play the dips and make money coming and going great and congrats but you could not make make money on the dips and such if this was a “fraud”.
Good move. Congrats. Cover and rinse and repeat the next time as this continues to rise.
For those new to crypto. These drops happen from time to time. Don’t panic! You can’t have an asset with gains like this without corrections and stepbacks. The corrections and stepbacks will be big and sudden. That is normal. I can’t stress this enough. Instead of being up 80% you’ll only be up 60%. LoL. Let that sink in!!! If patient crypto can literally have the effect of years of not decades of impact on your portfolio.
Yes sorry thanks for this comment.
Please readers note that My previous comment about Gbtc price movement was before the split. There was a lot less shares in 2017 So it is inappropriate to compare today’s gbtc with gbtc in 2017. Sorry to confuse or mislead anyone. That was not my intention.
Not unreal my friend. Just a repeat of 2017. Only thing is back in 2017. Gbtc was going up hundreds of dollars per share. It was crazy back then. I’ll take these gains too as I have many more shares now. Be patient and just remember these days when it slows down. More to come I think. I do think analyst are right on bitcoin will go past 20k this time.
I think ethe will eventually come down closer to what it should be. Only reason it may not is the super low float. Gbtc was all over the map in the beginning weeks then it settled down and was more consistent Etcg has dropped significantly as i suspect money is being pulled out of there and into ethe. That’s my guess
Nuts just insane. Eth? closed at $580. Almost doubled today. Only 280k float and 495k O/S. This thing may go bananas before returning to earth. LoL
Yeah I Remember gbtc back in its early days. This one is super nuts though.
Anyone buy ETHE Yet?
Ethe trading for $369. I thought each share was .09 ethereum?
Citron didn’t do anything to gbtc. That was the split that grayscale did a while back that brought the price down.
Etcg is just weird. Wouldn’t be surprised if this jumped back up to $40 and then even higher. There’s something going on with it but it’s not a pump. You can’t find anything out there on this stock. Tiny float and big demand I guess. Grayscale has become a player in this area. Like it or not they are big and legit and people/institutions are buying this and gbtc. Soon they’ll be buying ETHE when it’s available. Just enjoy the ride and invest carefully as always.
Million dollar question. This does have a very very very low float. Stock seems to move with bitcoin and ethererum rather than following ethereum classic.
For whatever reason this moves more in line with bitcoin and ethereum more than with ethereum classic which is the actual underlying asset. This thing moves but you have be aware that it’s trading at over 6 times the underlying asset. Get in, protect your investment and get out.
Float is only 1.2 millions shares. Maybe be worth a jump into with some loose change. This thing has volatility similar to gbtc before the split over a year ago.
And if continues to go up and up! It’s not tracking with ethereum classic or ethereum.
Correction:
Exactly. I saw an article that suggested that as well. Also it’s the only way to buy into ethereum as a stock so maybe that’s why it’s so high(the premium). I have no idea why that premium is so big. I held off buying into it as I figured people would figure out it wasn’t the same thing as ethereum. I guess people don’t care.
Exactly. I was an article that suggested that as well. Also it’s the only way to buy into ethereum as a stock so maybe that’s why it’s so high. I have no idea why that premium is so big. I held off buying into it as I figured people would figure out it wasn’t the same thing as ethereum. I guess people don’t care.
Oh sorry I didn’t mean gbtc’s premium. I was referring to the etcg fund t(ethereum classic)that has a premium compared to the regular ethereum fund that may soon be available to investors.
But I’m any case you’re right regarding that as well.
Cheers
I think the classic fund may drop now that the Ethereum fund will soon be open on the otc market. It’s about $27/share but currently only open to authorized investors.
Basically those the use premium to judge the stock look at the underlying assets Value. Since each share of stock equals approximately 1 ethereum classic, the premium is calculated by the excess of the stock price over the value of ethereum classic at the time.
So if the stock is trading at $36 and ethereum classic tokens are $18 then the premium is $18.
The point of the fund it mimic returns of the underlying assets.
Turbo tax rocks. I didn't sell any coins so I didn't have to deal with coinbase this year.