If you cannot see what suddenly allowing the vast sea of investment capital (multi trillion dollar pool) access to btc could potentially do to the price then I can't help you. Just fifty million USD would smash the price into the stratosphere.
Big picture remains that bitcoin is an excellent assymetric financial bet to speculate upon. Why do you think all the trolls and bears are really here?
Good point that a paper BTC derivitave (like GBTC and COIN) will attract a small but significant sum of money from investors who want to hedge against recessions and market/currency/economic crises. It's yet another tool for portfolio management.
This fact alone puts it on the radar for Wall Street, who make money selling these investment instruments to the public. They have undoubtedly "helped" the bear market due to the fact that there are so many green traders who are easy to shake out.
Think about this: Hedge funds aren't allowed to buy bull markets--in fact this is a great way to lose your job of you work for one--instead they buy down markets. When they buy, they buy low and they make sure to not mark the price up. Why would they make you rich at their expense? If the $200 level holds it's good evidence that these prices are "low" to whomever seeks to build a position in Bitcoin, and they hope to revisit higher price levels in the future.
Seeing how twitchy and hungry for good news this market is, watch everyone fat finger the margin buy button if GBTC begins trading at any price above spot.
I agree, sir. I called "Wall Street Monday" more than a week ago, but it didn't happen. I still believe the "launch" will be planned and timed by sentral players, but I will never try to predict the timing. Ever. Again.
cmon now... you are scaring the bears. they still has hope that price will hit lower than 200 at least once so they can buy cover their short
