Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Lets see what happens.
Either bitcoin is very underpriced or GBTC users are happy to pay a heavy premium.
Dumping into the opening on a Chinese exchange shows the degree of desperation from bears - yes you will have to cover your positions
Either bitcoin is very underpriced or GBTC users are happy to pay a heavy premium.
Dumping into the opening on a Chinese exchange shows the degree of desperation from bears - yes you will have to cover your positions
Well, to be fair, I think it was a valid attempt and could have turned out to be a wise strategy. Often it is "buy the rumour, sell the news" that works best in Bitcoin. With GBTC starting to trade, bears could have smelled a similar opportunity as with Coinbases exchange back in January! It was a run-up, and as soon as it went live - Boom, the bubble burst, back to $220. Could've worked this time, as well...
It hasn't.
Surprised we havent seen some big market buys tbh.