Skip to main content

Bitcoin 27.10.2017 : Bitcoin Investment Trust Hits $700 as Cryptocurrency Resumes Uptrend

Grayscale’s Bitcoin Investment Trust (OTC: GBTC) posted firm gains on Thursday, as the broader cryptocurrency market resumed its uptrend.
// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Bitcoin Investment Trust

GBTC’s market price per share climbed 4.3% on Thursday to reach $700, according to Grayscale.  The index peaked above $1,000 in late August before China issued a blanket ban on bitcoin exchanges as well as the trading of initial coin offerings (ICOs).
Bitcoin prices (BTC/USD) were up nearly 4% at last check to trade at $5,883, according to Bitfinex. The coin continues to trade at a premium on Korean exchanges, which has become the norm since the Asian country began widespread adoption of cryptocurrency. At current values, bitcoin’s total market is around $98 billion.
The Bitcoin Investment Trust provides a traditional avenue for gaining exposure to the world’s largest cryptocurrency by market value. The fund, which began trading in September 2013, has more than $713 million in assets under management.

Rosy Forecast

Wall Street strategist Tom Lee is extremely bullish on the Bitcoin Investment Trust. He recently forecast that the fund’s price could easily triple by 2022, according to CCN. The co-founder of FundStrat Global Advisors has already given bitcoin a “conservative” price target of $25,000 in the next five years.
Lee still cautioned investors about the potential of liquidity risks facing GBTC, especially if the market faces renewed selling pressure. However, this would take an “all out panic,” according to Lee.
Bitcoin prices crashed in the wake of China’s regulatory shakeup, but quickly recovered to trade at fresh records a month later. BTC’s latest advance is partly due to the dismal performance of Bitcoin Gold, which forked from the original blockchain protocol earlier this week. The main Bitcoin Gold network is awaiting activation in early November.
Bitcoin Gold was down 2% at press time to trade at $135, according to CoinMarketCap. That’s merely a fraction of the record value of around $680.

Comments

Post a Comment

Popular posts from this blog

Đầu tư vào đâu? Nhận định thị trường BĐS Đà Nẵng 2019 - Tin tức BĐS Đà Nẵng

#tintucbatdongsandanang #bds #zinchannel Tin tức về BĐS Sản Đà Nẵng. Nhận định 2019. link youtube:https://youtu.be/_2tSxck31iE
Post a Comment
Read more

Technical Analysis 8.11.2017 : Litecoin on the Move as Bitcoin Trades Near $7000

  Altcoins are in the center of attention today, both in positive and negative ways. Ethereum’s scary client bug caused a sell-off in the second largest coin in the second half of the session, while the rally in Litecoin, Dash, and IOTA kept traders excited beforehand, although Ethereum Classic entered a correction after its strong break-out, while Monero is still hovering around the crucial $100 resistance. Litecoin had a great session, as it surged past the $56 level and traded above the $60 price zone for the first time since mid-October. The technical picture remains bullish on the currency on all time-frames, with a likely test of the $64 level in the coming days, and with the next target at $75. Support below $56 is found at $53 and $51, with another key level near $44. LTC/USD, 4-Hour Chart Analysis Bitcoin BTC/USD, Daily Chart Analysis Bitcoin briefly dipped below $7000 again today, but the coin bounced back above the key level...
Post a Comment
Read more

Long-Term Cryptocurrency Analysis 19.11.2017 : Bitcoin Flirts with $8000 as Altcoin Bull Persists

Bitcoin’s swift recovery was the main topic of the week, as the most valuable coin not just regained its steep losses, but hit a marginal new high towards the end of the period. The entire segment is experiencing capital inflows as the total value of the coins climbed above $230 billion for the first time ever after finally leaving the vicinity of the $200 billion mark. BTC breached the $8000 level before turning slightly lower on Friday, but despite the severely overbought daily chart, it is still trading near its all-time highs. As the long-term picture still suggests a deeper correction, investors should wait with opening new positions and traders should also control position sizes here. Key support levels are found at $7700, $7000, and $6700, while the recent key break-out level at $5000 still hasn’t been re-tested. BTC/USD, Daily Chart Analysis Dash is still the most bullish altcoin from a technical standpoint, despite this week’s short-term correction, as the ...
Post a Comment
Read more