Grayscale: Bitcoin Could See Another 5-6 Months of Downward or Sideways Price...
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,....
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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 […]
According to VeChain pricing analysis, VET prices have been moving sideways over the last few days. VET prices moving sideways as seen in the past few days VeChain price fluctuating in the $0.02 and $0.027 range VET price is down by 0.5% Nevertheless, because the prices have been trading above the crucial support level of $0.02412, there has been a minor bullish bias in the prices. At $0.02474, the prices are now being rejected. As of this writing, VET is trading at $$0.02491, down 0.5 percent in the last 24 hours. It turned out that the low volume breakout was a fakeout. As a result, the....
Digital asset manager Grayscale Investments has acquired an additional $300 million in cryptocurrencies over the last 24 hours. See also: Grayscale Tells SEC Its Bitcoin Trust Rose $1.6B Over Six Months
While Bitcoin briefly did break the magical $400 barrier a couple weeks ago, it has now receded to the $380-$390, experiencing a lot of sideways movement between the two. In an attempt to keep current however (graphs do not reflect this) the price of Bitcoin has fallen down to the $360-$370 range, just showing how the price of Bitcoin can change to a day to day basis. Bitcoins volume is slowly decreasing, and price is staying relatively stable. If we refer to history of Bitcoin, my gut feeling is Bitcoin will experience more sideways movement for a long time, with a slightly downward trend.
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 […]