Replies to post #6708 on Grayscale Bitcoin Trust (GBTC)

[Cyberoneiric2]

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.

e^-x * 5Tau == $750 long term average bottom for GBTC, $7,500 BTC !!!

Speculative investing ressembles charging and discharging a capacitor, it's like physics. Then there is a residual charge that won't dissipate.

If Bitcoin is to collapse and along with it GBTC, then it's long term support in my opinion is $7,500, far from zero but also far from $1,000,000 that John McCafee claims.

Late comers who didn't buy Bitcoin in time to benefit from the possibility of making money but who would like to benefit from Bitcoin's "store of value" feature promoted by everybody should wait for the price of BTC to stabilize long term around $7,500

This represents $750 for GBTC but I don't see how GBTC can serve a store of value purpose given that this is not an asset that generates revenue nor income and incurs costs over time.

GBTC's use was precisely to cash in on the spectacular rise of Bitcoin. Once it falls and stabilizes, GBTC will become a liability and not an asset and therefore going to the hurdles of actually holding Bitcoin will be necessary.

[Chartmaster]

I've been saying Bitcoin has gone parabolic, now this week looks like the GBTC is topping and a pullback to $1000-$1200 I feel is coming here, many of the $$$ coming out of bitcoin will find it's way into the Bitcoin miner stocks imo