Record GBTC discount may spark $100K Bitcoin price rise — analyst
History repeating itself have the potential to spark a 2-4X BTC price run, data covering the GBTC premium suggests. Bitcoin (BTC) could be in for a $100,000 bull run next if a classic signal from institutions repeats its historical trend.In a tweet on March 4, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that those seeking clues about what lies next for Bitcoin should look at the Grayscale Bitcoin Trust (GBTC).Negative premium "could signal march to $100,000"As Bitcoin fell to $43,000 and continued to linger below all-time highs thereafter, the so-called....
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The premium on Grayscale Investment’s GBTC, which turned negative for the first time on February 23, is continuing its downward slide. As the latest Glassnode data shows, the GBTC was trading at a record low discount of -11.92% on March 4, 2021. According to the same data, this new low is a significant reversal from the December 21 premium of nearly 40%. The Competition This growth in the discount on GBTC comes as Grayscale Investments gradually shifts focus to altcoins. As reported by news.Bitcoin.com, Grayscale added 174,000 litecoins or almost 80% of the newly minted LTC in....
Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days.
GBTC Discount to NAV Widens by 35% — Fund Reaches an All-Time Low Against BTC Spot Price
The Grayscale Bitcoin Trust (OTCMKTS: GBTC) is the oldest, and one of the most popular, bitcoin (BTC) funds on the market today. However, in recent times GBTC has been suffering from a discount compared to BTC’s spot market values.....
It's a polarizing world in institutional Bitcoin offerings this week as Grayscale's CEO remains convinced demand will return. Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler.According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount.Grayscale CEO: Investors are "waiting for things to settle down"Amid ongoing market volatility this week, GBTC has seen its fledgling recovery fall flat on its face — for the time being.The so-called....
There's no doubting the BTC price upside, but under the hood, all is not what it seems, one analyst highlights. Bitcoin (BTC) is getting compared to late 2020, but this rally in fact has several major differences which make it “not normal.”According to Pete Humiston, manager of Kraken Intelligence Research, Bitcoin in Q3 2021 is a different beast when compared to Q4 2020.GBTC keeps its steep discountDespite going from $29,000 to $48,000 in just one month, Bitcoin is still not seeing a frenzy of interest and buying. Higher price levels have seen solid support, but there is little evidence....
GBTC will "take time" to restore its balance thanks to changing market forces, analyst Willy Woo says. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) is trading at its biggest discount since the May BTC price crash.Data on Aug. 19 confirms that as BTC/USD trades near $44,000, GBTC shares are over 16.5% below spot price.Analyst: Grayscale comeback "will take time"Grayscale, which has $42 billion in assets under management across its various cryptocurrency funds, has seen institutional interest endure throughout the recent Bitcoin price dip.Despite some conspicuous....