Bitcoin Downward Spiral Continues Unabated Despite Grayscale Ruling
The price of Bitcoin experienced a notable increase after the U.S. Court of Appeals for the DC Circuit determined Tuesday that the Securities and Exchange Commission (SEC) was mistaken in rejecting Grayscale’s request to transform its prominent BTC trust into an exchange-traded fund (ETF). In response to the ruling, Bitcoin’s value surged by more than […]
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Since February, Grayscale Bitcoin Trust (GBTC) has continued to trade at a negative premium. The Bitcoin fund, available to institutional investors on the traditional stock market, has traded below the price of Bitcoin since February 22, 2021 — a telling sign that its demand was drying up. Just four months ago, GBTC”s premium was at a whopping 33.12%. Since then, its premium has fallen into a downward spiral, hitting an all-time low of -14.34% on […]
Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink. Cost Of Bitcoin Mining Rigs Has Been On A Downward Spiral Recently As per the latest weekly report from Arcane Research, BTC mining rigs are now at their lowest cost […]
The United States Securities and Exchange Commission (SEC) has reportedly decided not to appeal the recent court’s decision regarding a case between the federal securities regulator and Grayscale Investments. In a high-profile ruling on August 29, the US District of Columbia Court of Appeals granted the prominent asset manager’s request to convert its Grayscale Bitcoin […]
Grayscale Investments has explained that there may be another 250 days of the current bearish crypto market, citing patterns in previous cycles. In addition, “Bitcoin is 222 days off the all-time high, which means we may see another 5-6 months of downward or sideways price movement,” the world’s largest digital asset manager detailed. Grayscale’s Crypto Market Outlook Grayscale Investments, the world’s largest digital asset manager, published a report titled “Bear Markets in Perspective” this week. The firm explained: “The length,....
BTC continues to be accumulated by Grayscale, a leading digital asset fund manager. It was noted that the firm’s leading Bitcoin Trust added 12,319 BTC to its coffers in a single day. Bitcoin Continues to Be Accumulated by Grayscale Bitcoin continues to be accumulated by Grayscale, a leading digital asset fund manager. Kevin Rooke, a technology analyst, noted that “Grayscale’s Bitcoin Trust just added 12,319 BTC to $GBTC in a single day. That’s more than […]