GBTC is a Bitcoin Investment Trust which allows big official players to invest into Bitcoin legally.
It is always a good indicator of future ie check my post that predicted price going down here
And currently, GBTC traded at 10 000 USD per BTC!
The math on this is a little bit complex, 1 share is 927USD and you need 9/100ths to meet whole BTC. SO adds up to 10k USD!
1 share is 0.09258535BTC right now.
If you are day-trading do what you want but id rather suggest playing leverage than selling/buying actual BTC ie at BitMex or SimpleFX.
We dont know when this will take off and would suck to sell and not rebuy. Of course decide yourself.
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STEEM is also poised to do well soon it seems... However, I think one would be silly to not power down a little to hedge into Bitcoin. There is going to be MASSIVE growth on both sides of the chain this year before year end.
I agree, @netuoso. The dev team is rolling up consecutive updates. This will cause the price of steem to increase too.
It is very difficult now to decide which of the two (BTC and Steem) shall grow better ?
I agree with you, about steem being the next big thing as analysed in my blog post this week(feel free to see it). Upped and following you in order to stay in touch. Good point indeed. Time to get more steem power plus some bitcoin too.
@netuoso balanced level headed thinking.. good call brother.
seriously though.
(____/)
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Well BitCoin is now dropping rapidly...any change of opinion?
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I m amazed!!! People are being charged so much for btc currently? Waiting for Steem Investment Trust to be priced $1000 per steem soon.
to the MOON !
This post received a 3% upvote from @randowhale thanks to @spacehd! For more information, click here!
It's good to keep an eye on the traditional investment products to get a picture of how the big whales are slowly jumping into the crypto arena
Good Post
Good point, you are now starting to see some celebrities get into it.
Yes even Flloyd Mayweather. It's getting crazy. Exciting times are ahead.
lol Nobody wants to get fired
What is the premium on GBTC normally?
Is it shortable? There would be a huge arbitrage opportunity there if it were.
you can not find any shares to short...IB is out for sure
good post
This post received a 2% upvote from @randowhale thanks to @mountrock! For more information, click here!
Check out truth revealed decades ago: https://dtube.video/#!/v/ragetester/6xicf9st Feed the government! Or was I looking for a different f word?
This seems very off topic and spammy
No more mr. nice guy?
Spread the word, save the world
Imagine the next halvening in 3 years, it will jump 10x
Yes, this indicates a huge demand from wallstreet investors so a lot of money will brought to bitcoin by them!
@michiel
I support with your comment 👍
Upvoted
@kingscrown
Bitcoin to the moon soon 👌
@michiel @kingscrown could it be that people who took money out before segwit now gained confidence and is reinvesting? Either ways its good news for who invested in it. Mine was a very small share so even thoe the gain is not huge its considerable.
you are right bro
Wallstreet investors? do we really need this type of market manipulation, greed and corruption?
I totally agree. They don't seem to be the type of people who will hold Bitcoin as a store of value, more pump the price up by injecting millions in then selling off in one go dragging the price down with it. Very worrying times ahead.
definitely very worrying when these guys get involved. If the exchanges and the pump and dump traders aren't careful, the mass of people with the vision of world financial evolution WILL leave this space, however sad that would be, and the greedy bunch will be left trying to pump and dump on each other. The average guy is tired of being extorted by these idiots.
thank you kingscrown, the future is looking bright.
10K may sound ridiculous right until you read this;) https://steemit.com/bitcoin/@cryptoeagle/cryptocurrency-wallet-users-vs-facebook-users-where-are-we-now-making-the-case-for-the-million-dollar-coin
This is only the beginning folks, relax and enjoy the view while we get there!
you are right this is going to be badass.
Actually no its not, sooner or later the government will start regulating bitcoin and ruin yet another good idea. Just like it always does.
Brilliant! Thank you!
That´s exactly how I feel
it's a very helpful post, thank you !!!!
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I totally didn't understand this post. Why would BTC trade at 10k per share now with them?
They're basically saying 1 share of GBTC is 0.09 BTC (which costs $927 right now). So based on this 1BTC should be $10,300 = 927/0.09.
But my question is that who said 1 share of GBTC is 0.09? I mean it can be just an agreement!
I have the same question...
I think it can be before October starts
10,000 is a rather arbitrary number, makes for a good blog post title of course.
Why 10,000 instead of say 7,000 or 15,000?
Seems like a way to screw traditional investors by having them pay ridiculous premiums for OTC type investments.....
Not sure that this means that btc will go to 10k. Although, I sure hope it does. Or, are OTC (Over the Counter) and this something completely different?
It looks like the direct funda of demand and supply. Suddenly the demand is huge and prices are hiking. Obviously it managed to keep up with the invester's confidence.
Absolutely, the finance industry sharks are going to go into a feeding frenzy and gouge investors. But is this not what they, the middle men have always done? The premium that you pay for "security"... ahem, extortion.
Very educational analysis, love it kingscrown. Thank you for sharing your know how with us minnows.
Follow me @Yehey
Thank you.
Cool! Let's hope it will reach 10000 soon!
Bitcoin to the moon and will take steem with it......thanks for the update
Bitcoin will collapse.
Hope not but I care more for steem and posted my reasons 2 days ago via my blog post. However Bitcoin will survive if the issues are resolved
I never have seen about this! Thank you
Its headed up with no sign of stopping or slowing down, that 3200ish you 3600ish boom spike a few days ago was insane. Still holding.
Also big talk with the new UBER CEO being a big bitcoin fan and rumors of adding it to the app summer 2018 would be huge!
Every time I think Bitcoin is expensive. It rises even further :(
Cuz people are dumb enough to keep buying it. Its like the stock market in 2007.
This is sick results indeed.
not befor the correction i think.
great news
There is so much time to hit 10000$ by bitcoin.
I can't say this info looks satisfying just to get upvote from others bro.
To be honest, I unable to understand the concept bro.
However I'm curious to know how a bitcoin is traded and 10$ dollar here.
I request you to post it in your next post with more details.
Cheers!!!
It will grow to moon as More governments try to restrict the crypto. still majority of people do not know or understand crypto. There will be no limits once they come to this market.
Follow me @ayurvedam
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I think we are due a correction at the $5,000 mark, it always goes down when it hits these psychological barriers.
cool stuff 10k tomorow next year 100k
It's very possible to hit that mark, the way btc is trending every year. Volatile, yes. But definitely worth investing for.
It would be silly not to HODL bitcoin! Always at least >30% of your portfolio should go into bitcoin! Easy money!
Here's a pro tip. Coins go up in price dramatically as soon as they list on an exchange. I use this site to get a notification in real time as soon as that happens - www.icowolf.com/wolfpack-2
GBTC has been an accurate price predictor of Bitcoin only because of two unrelated factors:
While I agree that Bitcoin will go to $10000 eventually, I cannot endorse GBTC as a predictor, as the correlation between these two factors is weak, at best, and hardly suitable for any kind of predictive algorithm.
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yes you right
GBTC always trades at a premium versus BTC.....it is an expensive way to go...although you can use it in IRAs in the US.
of course it trades premium but so far sooner or later price meet their premiums ;)
there is something sketchy going on with them...still wish i was long their stock
Something is going on with GBTC..its still moving at a much faster growth rate than BTC..and their trust doesn't hold their paper worth in BTC..the SEC is halting too many crypto back stocks
I knew $10,000 would happen, but I figured it would be much longer, but since the week or so before the split when it really rallied, it seems like it will be much sooner than expected.
i want to see a psychological test of 5k first
It's coming, and soon.
Great post, bitcoing and steemit to the moon! Check out my introduction post I just shared when you have a chance!
So much great news for Cryptos!
yes
Not economict, especially cryptoeconomist, so is it math proven prediction
Oh and check my post about car sharing, I'm a minnow and gotta advertise myself somehow so don't be angry
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its going on its reaching the sky of the crytoworld or we cn say in real world also
Good news, if BTC goes up. Alt coins will follow, for sure.
BTC and LTC LOVERS Hit that upvote!!
yeah, this indicates huge profit for the miners.
good job
well done