Opinions
Jason Del Vicario
Bitcoin Investment Trust
GBTC-OTC
DON'T BUY
Dec 04, 2017
Stock price when the opinion was issued
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Early this year, GBTC had a 50% discount to Bitcoin's price, but now only 18%. She owns a small position. All the fraud that happened last year in this space was a game-changer, so she wants to see the actual use cases of open AI in relation to crypto before she invests. A big wait and see.
According to technical analyst Larry Williams, 8 out of 9 times in the 270-day cycle, Bitcoin has reached a stage where it sold off hard. The last sell-off was Feb-June 2023, then it turned positive. Before that was July-October 2022 when it sold off again. Also, Williams notes that when Bitcoin gets very overvalued vs. gold that Bitcoin hits an inflection point and Bitcoin sells off. Third, Bitcoin is seeing high volumes in it, and that typically signals a sell-off to come. Fourth, his data tells him that professionals are selling into strength. Expect a little weakness, then a bounceback, then Bitcoin will decline hard.
BitCoin. The rise has been unbelievable. The primary concern right now is that it is unregulated. He is concerned about how regulation could affect it. He can’t see the central banks sitting back and doing nothing. Block Chain technology ad BicCoin are two different things. Block Chain is a way for people to make transactions.