The 2nd market BIT is generally a very large whale. When the price is increasing their investors will buy more, causing additional upwards price pressure
Given the rumors that investors cannot liquidate even after the 6-month lock-in period (see previous posts), the disastrous performance of the fund this year, and the continuing lack of the long-overdue open market for their shares, I really do not see why someone would invest in this fund.Many people, like you, could't see why someone would buy bitcoin when it dropped from $32 to $2. They said bitcoin was a complete failure. Today, even with the "disastrous performance" in 2014, bitcoin is still 150x better than the $2 bottom.
OK, ignore the "disastrous performance" if you will. There is still the fees, failed promises, and (apparently) having to watch the share value drop without being able to take the money out. Now, remind me, what were the advantages of buying fund shares instead of buying bitcoins directly?
