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.
Yeah, it hasn't, which is good. But one is always wiser in retrospect! I'm actually quite relieved and almost surprised that we haven't seen a dumpfest as soon as GBTC went live. But them trading at 50% over spot price seems to be good news for a change. What about that incredible wall on Stamp?
1500 coins? Stamp is on life support tbh.
I agree that stamp does look like it's struggling quite a bit, especially when it's giving away promo codes, and waiving trading fees for a longer period of time after the incident in January. But on the other side, these asks are real, and people can buy those coins for that price. It's not as if this is some fake offer or something.