BTC (Bitcoin) Grayscale is interesting.
Updated
About 80% of the investments in the trust, which now manages $38.5 billion, is from institutional investors, Grayscale disclosed at the end of last year’s third quarter.
***COT data is showing Longs of (5 Bitcoins) 2,335 & shorts at 7,144.
The discounted shares in the trust suggest that institutional investors are rushing to sell shares in the trust, perhaps preferring to invest their Bitcoin in vehicles that undercut Grayscale’s 2% management fee and avoid its brutal redemption schedule.
Grayscale Now Owns More Than 3% of Total 21 Million Bitcoins That Will Ever Exist...
The weekly Stochastic is up at it's high.
The alt coins smoothed Oscillator is running only slightly above BTC.
However the Total market cap has had 3 nice peaks up and now the momentum sideway showing a 3rd down wave on the oscillator.
Then we have the Grayscale ocean of divergence.
Grayscale chart (no drawings)
In the absence of a Bitcoin ETF in the USA, Grayscale’s trust remains one of the only ways to invest in Bitcoin through a regulated investment product. “Prices would rise for sure someday,” speculated trader Kushagra Singh in an interview with Decrypt.
See the related ideas below for more of the technical analysis on BTC.
COT - cftc.gov/dea/futures/financial_lf.htm
News article - decrypt.co/63779/grayscale-bitcoin-trust-traded-discount-nav-for-month
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
***COT data is showing Longs of (5 Bitcoins) 2,335 & shorts at 7,144.
The discounted shares in the trust suggest that institutional investors are rushing to sell shares in the trust, perhaps preferring to invest their Bitcoin in vehicles that undercut Grayscale’s 2% management fee and avoid its brutal redemption schedule.
Grayscale Now Owns More Than 3% of Total 21 Million Bitcoins That Will Ever Exist...
The weekly Stochastic is up at it's high.
The alt coins smoothed Oscillator is running only slightly above BTC.
However the Total market cap has had 3 nice peaks up and now the momentum sideway showing a 3rd down wave on the oscillator.
Then we have the Grayscale ocean of divergence.
Grayscale chart (no drawings)
In the absence of a Bitcoin ETF in the USA, Grayscale’s trust remains one of the only ways to invest in Bitcoin through a regulated investment product. “Prices would rise for sure someday,” speculated trader Kushagra Singh in an interview with Decrypt.
See the related ideas below for more of the technical analysis on BTC.
COT - cftc.gov/dea/futures/financial_lf.htm
News article - decrypt.co/63779/grayscale-bitcoin-trust-traded-discount-nav-for-month
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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