Analysts Warn Investors About Bitcoin Trust’s Price, Citing a ‘Bubble’ in Soaring Value
The rapidly spiking price of bitcoin has caused some analysts to warn investors about investing in Barry Silbert’s Grayscale Bitcoin Investment Trust (GBIT). Bubbles have started to form for bitcoin’s price, according to Parke Shall, a financial analyst at Orange Peel Investments, writing in Seeking Alpha. Shall noted that the bitcoin price traded at over $1,800 Thursday morning, which is 40% more than where it was a short time ago. The influx of capital has contributed to the bubble, Shall warned. He said he wanted to prevent people from buying bitcoin at a 70% premium. The intraday price....
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