Hey traders, doing something a little bit different than the typical crypto post, today we're looking at Grayscale Bitcoin.
For those of you in the traditional stock market and see the impending doom of stocks, GBTC is perfect for you. GBTC mimics the price of BTC and is backed fully by the price of Bitcoin.
Every share of GBTC = 0.00097 BTC
ex. 1000 shares = 0.97 BTC
I don't think I need to go too much into analysis, as I update you guys frequently on the actual price of Bitcoin, but the price looks like a great entry at the moment, I don't expect Bitcoin to drop any lower than where we're at now.
1st Sell Target should be set at 12.3666 for a 44% gain
2nd Sell Target should be set at 17.25 for a 40% gain
BTC broke out of the summer downtrend that started at the swing-high peak of 14,000 in this case 17.25. The charts between BTC and GBTC are almost identical and very easy to read. Expect accumulation for the rest of the year, opening the doors for a huge move in the new decade.
As always please do your own research, I am not a financial advisor.
For those of you in the traditional stock market and see the impending doom of stocks, GBTC is perfect for you. GBTC mimics the price of BTC and is backed fully by the price of Bitcoin.
Every share of GBTC = 0.00097 BTC
ex. 1000 shares = 0.97 BTC
I don't think I need to go too much into analysis, as I update you guys frequently on the actual price of Bitcoin, but the price looks like a great entry at the moment, I don't expect Bitcoin to drop any lower than where we're at now.
1st Sell Target should be set at 12.3666 for a 44% gain
2nd Sell Target should be set at 17.25 for a 40% gain
BTC broke out of the summer downtrend that started at the swing-high peak of 14,000 in this case 17.25. The charts between BTC and GBTC are almost identical and very easy to read. Expect accumulation for the rest of the year, opening the doors for a huge move in the new decade.
As always please do your own research, I am not a financial advisor.