Saturday, June 16, 2018 6:08:26 PM
BitCOIN is not an asset class its a fad and is getting a well deserved ass kicking.
Eventually Blockchain and an altcurrency may make a difference...but not yet.
GBTC trades at a 66% premium over its Net Asset Value...common sense says that's toooooo rich for any ETF...so don't cry if part of that premium disappears.
GBTC..recently some of the volatility has come out of the BitCoin trade= a hint of sanity starts to define itself relative to what this ManicFAD is all about. The regulators are watching...so fad/manipulation/scam best start acting right. If I was the head of a government I'd call it counterfeiting...
(Its more about BlockChain then it is about the Crypto-currencies.)
GBTC...The down trend needs broken...GBTC has had very few closes above the 10 day moving average since MAY...very little happens with price until it convinces you that it can stay above the 10 day average....= a trend is forming/may form.
Daily GBTC...swing trade...you should expect +10%...catch a trend and you may get 20% or more.
Daily is oversold and is trying to turn UP...so there is a trade here; but use stops or you may be sitting on a 20% loss very fast.
Eventually Blockchain and an altcurrency may make a difference...but not yet.
GBTC trades at a 66% premium over its Net Asset Value...common sense says that's toooooo rich for any ETF...so don't cry if part of that premium disappears.
GBTC..recently some of the volatility has come out of the BitCoin trade= a hint of sanity starts to define itself relative to what this ManicFAD is all about. The regulators are watching...so fad/manipulation/scam best start acting right. If I was the head of a government I'd call it counterfeiting...
(Its more about BlockChain then it is about the Crypto-currencies.)
GBTC...The down trend needs broken...GBTC has had very few closes above the 10 day moving average since MAY...very little happens with price until it convinces you that it can stay above the 10 day average....= a trend is forming/may form.
Daily GBTC...swing trade...you should expect +10%...catch a trend and you may get 20% or more.
Daily is oversold and is trying to turn UP...so there is a trade here; but use stops or you may be sitting on a 20% loss very fast.
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