Topic: $GBTC Speculation, Information, and Cogitation (Read 11802 times)
GBTC had a daily volume of 27,256. That's 7-8x more than average and I think a new all time high.
The Freerealtime page today was strange:
Note the weird entries with "4747" shares. The total comes out as 29562 shares, which is 6861 = 4747 + 1774 + 340 shares more than the total volume listed on the OTCQX page.
Also note that trade was rather strong but stopped just before 15:00. Isn't the closing time 16:00?
14:53:33 29.09 3 OTO
14:50:51 29.09 18 OTO
14:33:23 29.05 56 OTO
14:33:23 29.05 50 OTO
14:33:19 29.09 200 OTO
14:24:29 29.09 1000 OTO
14:13:17 29.10 340 OTO
14:06:52 29.1122 4747 OTO
14:06:21 29.1122 4747 OTO
14:02:09 29.09 20 OTO
13:40:56 29.00 1774 OTO
13:40:04 29.14 100 OTO
13:14:35 29.14 900 OTO
13:06:50 29.11 1000 OTO
13:06:18 29.14 1000 OTO
12:55:43 29.05 100 OTO
12:48:37 29.15 100 OTO
10:38:32 29.1122 4747 OTO
10:38:11 29.00 500 OTO
10:38:04 29.19 100 OTO
10:38:00 29.50 2800 OTO
10:37:43 29.50 100 OTO
10:37:17 29.25 100 OTO
10:36:48 29.25 1000 OTO
10:36:18 29.25 1000 OTO
10:08:33 29.25 70 OTO
10:06:51 29.25 20 OTO
10:05:21 29.25 57 OTO
10:04:37 29.10 340 OTO
09:59:19 29.25 86 OTO
09:59:11 29.25 154 OTO
09:54:01 29.25 100 OTO
09:47:46 29.25 25 OTO
09:45:45 29.00 1774 OTO
09:45:35 29.25 100 OTO
09:44:56 29.29 100 OTO
09:31:03 29.95 10 OTO
09:30:11 29.95 224 OTO
Note the weird entries with "4747" shares. The total comes out as 29562 shares, which is 6861 = 4747 + 1774 + 340 shares more than the total volume listed on the OTCQX page.
Also note that trade was rather strong but stopped just before 15:00. Isn't the closing time 16:00?
I wonder which asset is affected by Greece more? GBTC or BTC.
Premium is there because of tax free environment.
Following
If people got into BIT when BTC was $600, and are in it for the long run, they have no reason whatsoever to sell. I believe part of the reason for the premium is that there just isn't enough supply. In fact if I was a heavy buyer at $600, it would make more sense to double down at these prices than to sell anything. I mean look at downside v.s. upside potential. OK downside there is some chance it would go bust, like down to $0. But it is my personal belief that it is way lower than 50% v.s. going double from here within 5 years.
Instead of GBTC moving down the market is going up and getting closer to GBTC value.
ever since watching the GBTC launch, I've been even more excited to see some real exposure to actual, liquid, regulated markets. This could be interesting.
GBTC was just another hype shit that didn't even work, this market is collapsing, nobody wants to get in at these prices.
Now, now. GBTC seems to have settled at around $29. If there's any reason to believe GBTC should trade at a premium, then this might reflect that. Of course, I'm still waiting for a rise in Bitcoin proper with a corresponding rise in GBTC with significant volume to confirm. It's really too early to draw conclusions. But, yes it was a bit hyped.Could it be that all buyers so far have been by people who already held BIT shares?
* They know what BIT is, few other people do.
* They believe that bitcoin will someday be worth a lot more than now.
* They are prepared to wait many years for that.
* They probably bought other shares for 400-800 $/BTC, so 290 is cheap.
* Buying more of something is an easier decision to make than buying the first one.
* They may be tempted to buy just to keep the price from falling.
GBTC was just another hype shit that didn't even work, this market is collapsing, nobody wants to get in at these prices.
Now, now. GBTC seems to have settled at around $29. If there's any reason to believe GBTC should trade at a premium, then this might reflect that. Of course, I'm still waiting for a rise in Bitcoin proper with a corresponding rise in GBTC with significant volume to confirm. It's really too early to draw conclusions. But, yes it was a bit hyped.
GBTC was just another hype shit that didn't even work, this market is collapsing, nobody wants to get in at these prices.
Odd:
Bid Price
CSTI 28.15 100 10:28
Ask Price
CSTI 29.25 1000 10:28
Bid Price
CSTI 28.15 100 10:28
Ask Price
CSTI 29.25 1000 10:28
Odd how? This is what market makers do. Buck and change to be made on the spread.
GBTC is still overpriced. The volume would probably increase if it was closer to exchange prices.
I agree wholeheartedly. And I hope once it happens
Odd:
Bid Price
CSTI 28.15 100 10:28
Ask Price
CSTI 29.25 1000 10:28
Bid Price
CSTI 28.15 100 10:28
Ask Price
CSTI 29.25 1000 10:28
Odd how? This is what market makers do. Buck and change to be made on the spread.
Odd:
Bid Price
CSTI 28.15 100 10:28
Ask Price
CSTI 29.25 1000 10:28
Bid Price
CSTI 28.15 100 10:28
Ask Price
CSTI 29.25 1000 10:28
Ok I have to admit I thought this would be a lot more bullish for the price if bitcoin because it's a safe haven for big investors who aren't that tech savvy to get in & get themselves a piece of the bitcoin pie.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
COIN is what matters!
Yeh, a true ETF, not a jumping-through-hoops fudge. MUCH more interesting to investors.
Only then will we find out what real demand is. I would not get to downbeat about this one LFC ... its just not the real deal - it's supermarket Cola selling for more than Coke.
Ok I have to admit I thought this would be a lot more bullish for the price if bitcoin because it's a safe haven for big investors who aren't that tech savvy to get in & get themselves a piece of the bitcoin pie.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
COIN is what matters!
Ok I have to admit I thought this would be a lot more bullish for the price if bitcoin because it's a safe haven for big investors who aren't that tech savvy to get in & get themselves a piece of the bitcoin pie.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
I think the premium is the problem - it's too high. Why is it so? Because of the structure of the fund, that new buyers can only buy from long-term holders, who have no desire to sell at these prices after holding for more than a year. I can't see this changing any time soon TBH
The XBT structure is a much better product as it is new issuance at close to NAV.
Ok I have to admit I thought this would be a lot more bullish for the price if bitcoin because it's a safe haven for big investors who aren't that tech savvy to get in & get themselves a piece of the bitcoin pie.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
I know it's still very early days for a new business/corporation but I can't help but admit that yes, I'm disappointed.
Come on GBTC prove me wrong, do something positive to the price ASAP.
Price of GBTC continues to slide toward Bitcoin proper on low volume. I couldn't buy with my Roth through sharebuilder. Anyone have any luck purchasing in any sort of tax advantaged account?
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