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Stock split- it's going to be interesting to see how the new stock price fluctuates with changes with bitcoin.
Will the premium be the same?
Will investors loose interest if gbtc doesn't run up like it did before?
Will the price run up because investors believe the price is headed back up the thousand dollar range?
So many questions.
I'm glad to see the split as if this is combined with more awareness of stock it could mean a nice increase.
The split also brings the price of gbtc in line with other investments from company. I suspect the ethereum trust fund should be available to all investors shortly afterwards. I'm anxiously Waiting for the ethereum fund to come to market.
It's gonna be a rough time until bitcoin and others pick back up. Once the Asia things settles and mining and sales are redistributed across remaining countries the price will stabilize and then grow. South Korea thing will pass just as the others.
My personal opinion is lots of folks are sitting on the side and Waiting for the next definitive sign. Crypto is a supply/demand oriented asset. There's no way to really predict what it's going to do until it does it.
I think he means gbtc will be going to $5K.
Interesting. Who knows the affects. Not sure how much demand they were responsible for. Time will tell
I was literally about to post this myself. LoL
Yes ma'am it is. Love how it moves just when bitcoin takes a breather. Helps keep the overall portfolio nice and balanced. Cheers!!!
Told folks not to sleep on ripple. Doubled my investment in days. Only $2 per coin.
Ripple will be a slow steady burn. Not sure it will give you 2000% returns but it will double and triple over time. Slow and steady. Currently $1 now but will be $2-3 by the end if 2018.
Ripple is the only crypto currency that is actually regulated. Banks are currently using its platform as we speak. It poised for growth
Yes it does lol
Not necessarily. There are many on this board that have been in for months and years so they are deep into the green even with todays apparent down opening.
No, all crypto is down so if it was due to competition, then something would be benefiting but as I said, all crypto is down today. This suggest something bigger.
Likely down at opening since bitcoin lost value (along with every other crypto) last night. Christmas weekend, end of year, bitcoin bickering etc all factor into this.
Gbtc should be fine with investigating as they have no news or anything to mislead investors. Gbtc isn't like Long Island ice company.
I think prices will continue back upwards after the Christmas break.
Decision time for many today!
Disclaimer: I'm long in GBTC
Today will be a watershed moment for many in my opinion.
I suspect given the inability of bitcoin to hold any gains last night that today will continue be ugly for GBTC and crypto in general. Understand this is my opinion. I don't claim expertise etc. I have involved in bitcoin for over 2 years and gbtc since the beginning.
*Crypto is down across the board, gbtc will likely continue to drop as now the declining price in bitcoin is causing the premium in GBTC not the usual unpredictable price increase in the stock.
*It's Christmas weekend and a Friday. Typically there's a decent size sell off of gbtc on Fridays. Combine that with Christmas weekend, end of year, etc. it could be an ugly couple of days. The past few days have been the usual realignment of the premium/ pullback after a big gain that many of us have been accustomed to see. What's happening today and next week is something different. Lots of moving parts.
* I suspect crypto market will be off for a few weeks. "My guess" is things won't be back to "normal" (if you can call it that lol) until mid jan. By then the various platforms (Bitfinex, Kraken) will be done with upgrades enabling them handle the demand for accounts, process orders etc. holidays will be over and normal investing will resume again this is my opinion.
*A bigger "longterm" issue is the bitcoin fees associated with transactions. Right now Bitcoin fees are enormous and if they don't come down the ultimate use of bitcoin as a source of payment will never become a reality. It cost me $32 to transfer bitcoin from my account. Ethereum, bitcoin cash, Ripple and litecoin are pennies or less to transfer money. My understanding is the lighting network will lessen bitcoin transaction costs.
*You have public bickering and fronting between bitcoin and bitcoin cash folks.
*Now the word is Goldman Sachs is joining the crypto world (June 2018) so that's a good sign. E*TRADE and Ameritrade have jumped on the futures markets train so t appears that bitcoin is here for a while.
*Everyone needs to assess their needs and risk tolerance today. Those that have been in gbtc for 12 months or more are in a better position than those that just got within a few months (2-3).
Do what is best for you! You should know how gbtc and bitcoin moves and its volatility. You will be tested today and next week. Remember in school you get the lesson then the exam but in life you get the exam first and the lesson later. Make "your" decision and live with it.
Every crypto (except ripple) is down big today. Many are down 20-30%.
Ripple is down a few percentage points but nothing like others.
People are likely pulling their money out for the holidays
Kraken is one place you can.
Bitfinex is another but they aren't accepting new accounts until jan 15
Good read about continuing war with Bitcoin and Bitcoin Cash.
http://fortune.com/2017/12/21/bitcoin-price-drops-infighting/
Early Asian morning market are sluggish after a brisk start. All Crypto continues to slump.
Interesting read. Worth your time.
https://www.bloomberg.com/view/articles/2017-12-21/bitcoin-billionaires-may-have-found-a-way-to-cash-out
Bag holders? Well the stock is still valued at $1770. Its not this is some penny stock that just hit .0001 with no hope of increasing. I'm sure we have all been there. Yes being down sucks, but GBTC will recover. Futures even suggests higher prices. This is different. This is far from dead. Its ugly now but the stock had 45 days of incredible growth. Some pull back expected and crypto in general is undergoing pullbacks.
The ETF's won't be out until mid next year and additionally, the ETF's will be based on futures contracts not bitcoins themselves. There will be a premium to trade ETF's just as there is a premium to trade futures contracts. Finally, some of the ETF's will hold multiple crypto currencies. Hard to say what the impact will be but stocks have survived ETFs before.
Litecoins have been on fire. If you can, find a place to buy zcash and ripple or NEO
I can tell you but it's not worth the paper it's printed on. At this point if it were me I would see what tomorrow brings. Also I don't know your situation per se. Some can withstand bigger unrealized losses like the ones today and yesterday. Some can't. It's a matter of risk preference and financial resources. Everyone here las Likely lost on a trade or two or 20! If it were easy everyone would be doing it. LoL.
The encouraging thing is bitcoin is relatively stable today for the most part. All crypto is down some today except ripple. Now it's a partial function of gbtc moving up. That could take days, weeks or a month. No one really knows. Charts will help
Some but I have never believed that charts are a necessity for OTC. They help at times but personally I don't use them as i don't do daily or weekly trading. For example, charts suggest gbtc are way oversold so an upswing in imminent right? Maybe ? Who knows? Bitcoin and gbtc moves based on supply and demand mostly.
Actually, it is. If you want days where you earn a Years worth is S&P returns you have to tolerate days like this. Not the first and not the last.
A few months ago gbtc was $1000 and dropped to $600 in a day or so. Then after a month or so, it blew past $1000 and into $2000 and then into $3000 in about 45 days.
Now granted that was partially or wholly due to the excitement of futures contracts coming.
Now bitcoin is so popular that apparently all or damn near all of the exchanges are having trouble filling orders. Bitfinex has suspended new accounts while upgrading, coinbase is slow to process and went down a month ago due to excessive demand, Kraken is upgrading and slow to process orders as well. My point here is bitcoin is super popular and this is just the beginning. Once platforms can handle demand I thinks efficiency will be improved and liquidity will improve as well. That could lead to smoother and more prices(hopefully going up too)!
Again best advice I can give out to old advice. Don't invest any amount you're not willing to loose. Invest, set your stop loss limits, diversify your investments and be patient. While his is the OTC marker and people here mostly want a quick buck in days not months. Sometimes you have to have a longer time frame with some stocks. Just my 2 cents
*All "major" Crypto is down today except Ripple.
*Some are speculating that the thrill is gone now that the futures markets are running. In my novice opinion, its a holiday effect. I have even read that bitcoin typically drops in December but I don't know if that is antidotal or not. I suspect there's some truth to it however. Investments are like houses. No one buys one for Christmas. ha ha.
*Some are speculating that the money has gone to the futures markets. I doubt that as the number of contracts has been solid and growing but not overwhelming.
In any event, it sucks for those new to GBTC and its not that great for people like me and others who are a year or two long plus long into this. Sure its house money but it hurts just the same. ha ha
Etrade to offer futures on bitcoin.
https://finance.yahoo.com/news/todays-charts-etrades-bitcoin-play-finish-line-surges-bed-bath-beyond-tumbles-172419242.html
*4 days until Christmas.
*Very Slow going if you're trying to buy bitcoins or other crypto. Systems are overloaded big time(coinbase, Kraken and Bitfinex i know for sure). May explain the sluggish bitcoin prices.
Long long Wait times for bitcoin purchases in particular.
Gbtc is oversold according to daily chart. However prices may not creep too much further up today. Demand and sales will have to come from outside the USA over the next week.
On an aside:
New GOP tax proposals will impact purchases of one crypto with another. That is no more like sales transactions in 2018.
No offense but if it drops under a 1000, it's likely not gonna stop there and investing at that level might just be throwing your money away. Just saying.
Just buy bitcoin cash. It's not that expensive now. Maybe NEO as well.
Yeah they'll be some loss of accounts but not every exchange offers the menu of currencies. I imagine they figure it's better to not have some accounts as opposed to taking on more clients than they can meaningfully serve. Guess they didn't want to happen to them what happened to coinbase. I'll definitely open up an account with them soon. For now I'll use Kraken
Bitfinex new accounts paused! Excessive demand for new accounts(see message below).
New accounts will resume no later than Jan 15th.
Crazy! Partially explains the stalling of bitcoin prices. One of the largest exchanges isn't taking on new clients.
Prices could uncoil whenever they start accepting new clients.
////////:
"Thank you for your interest in opening a Bitfinex account. However, due to extraordinary demand, new account creation has been temporarily paused.
Bitfinex focuses on serving professional traders. The reason we have decided to temporarily stop accepting new accounts is that we cannot undermine the quality of our services for our existing traders by flooding the system with new, small accounts.
Please be patient while we expand infrastructure, services, and staff to meet the exponential rise in demand for new Bitfinex accounts.
This pause for new account creation is a temporary measure. New account registration will resume by January 15th, 2018 at the latest.
Thank you for your patience and understanding,
Bitfinex Management
Firms are buying bitcoin to pay as ransom for cyber attacks in a preemptive move!
https://cointelegraph.com/news/fearing-ransomware-attacks-companies-preemptively-buying-bitcoin
TD ameritrade to offer futures
https://www.google.com/amp/s/themerkle.com/td-ameritrade-to-offer-cboe-bitcoin-futures/amp/
While the forecast of 30k for bitcoin is high and unlikely I should point it that your valuation of the bitcoin is kinda misleading.
What i mean is If we were talking about a stock and shares outstanding yes that number seems really absurd.
But technically we're talking about bitcoin (I'm referring to the 20 million in your calculation) and since it's technically a currency, a number in the trillions isn't that absurd when you think about it.
Personally I think gbtc can hit $5500-$7500 in 2018 if things continue to climb. Bitcoin will continue to be in demand as bitcoin has become synonymous with the US dollar when it comes to crypto currency. What I mean is you typically need bitcoins to buy other currencies this keeping it a necessity.
Rough couple of days for sure but longs are still in the black. Tomorrow
Could be worse or better. Depends on what Asia does tonight when their market opens.
Congrats. Good time to buy. It may seem expensive but anytime you buy it seems expensive. Lol.
Bought my first gbtc st like $65 a share and thought I was crazy for spending that much on an OTC. I think there was me and one other person on the gbtc board. Lol. Now it's one of the more popular boards.
No grayscale owns ethereum classic, bitcoin and Zash funds. Ethereum and z cash are for qualified investors.
Wine helps with the nerves. !! lol.
Yes ma'am. Definitely right place and right time. Congrats to you too!!!
Lol. There are people here that haven't even gotten the bartenders attention much less had a drink. LoL. I've watch this trade since inception and knew of its volatility. I felt comfortable with my investment and I just take the rolls and curves.