SELL

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.

E.T.F.'s
COMMENT

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.

E.T.F.'s
DON'T BUY
Had a huge sell-off at end-2018 and last year couldn't hold onto $15,000. Doesn't see much positive going forward. That past peak in late-2018 will discourage investors from buying.
E.T.F.'s
RISKY
It's had a challenging year. This is a concept stock. You can put 1-2% of your portfolio in Bitcoin, definitely not part of a retirement plan nor a core asset. It's money you won't be upset about it if the stock goes down.
E.T.F.'s
DON'T BUY
No one has ever explained Bitcoin to him. Why has it taken off like this? Says Warren Buffet: don't understand it, don't buy it. Why get paid in something that fluctuates so much? It's a pure speculation, but he doesn't know if it will keep going up or not.
E.T.F.'s
COMMENT
He has no participation in the space. He lacks knowledge in the area but anything that has been destroyed as much as Bitcoin has is of interest to him. He has to pay attention as a portfolio management. It has been bombed.
E.T.F.'s
DON'T BUY
Bitcoin has outperformed the price of gold since 2015, even after falling from its 2017 all-time high. Don't be emotional about investing. Have a thematic approach and be neutral. Be Zen towards the market. Use your system and not emotion. Bitcoin is in a downtrend since late-2017. He needs this to move out of this downtrend and show an upward move.
E.T.F.'s
COMMENT
News that the owner of a crypto exchange died and took the password to $190 million of cryptos with him. It's not the first issue in this space. Last year, there were similar problems in Asia with fraud or people losing the password. Generally, he sees how cryptos are useful in some cases, namely developing nations, but in a developed country with perfectly good banking, it raises the question of why tie up a lot of money in a crypto apart from speculating?
E.T.F.'s
DON'T BUY
Blockchain is interesting and has many applications such as insurance. But currency has to be controlled, like a central bank. Yes, you can transfer wealth using Bitcoin, but what's to stop someone from hacking this. Control? This doesn't make a profit. He doesn't see this becoming a mainstream currency until a central bank controls it. Otherwise it remains a pseudo-currency.
E.T.F.'s
DON'T BUY

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.

E.T.F.'s
RISKY

BitCoin Stocks. The investment fund is not an ETF. They are closed end funds. There are no ETFs that hold BitCoins. GBTC-N has pretty high premiums to BitCoin. It is very, very risky. He would wait for an actual ETF. Futures in the currency are coming out shortly and could inspire more ETFs.

E.T.F.'s
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Bitcoin Investment Trust(GBTC-OTC) Rating

Ranking : 3 out of 5

Bullish - Buy Signals / Votes : 0

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 1

Total Signals / Votes : 1

Stockchase rating for Bitcoin Investment Trust is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Bitcoin Investment Trust(GBTC-OTC) Frequently Asked Questions

What is Bitcoin Investment Trust stock symbol?

Bitcoin Investment Trust is a OTC stock, trading under the symbol GBTC-OTC on the (). It is usually referred to as or GBTC-OTC

Is Bitcoin Investment Trust a buy or a sell?

In the last year, 1 stock analyst published opinions about GBTC-OTC. 0 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Bitcoin Investment Trust.

Is Bitcoin Investment Trust a good investment or a top pick?

Bitcoin Investment Trust was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for Bitcoin Investment Trust.

Why is Bitcoin Investment Trust stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Bitcoin Investment Trust worth watching?

1 stock analyst on Stockchase covered Bitcoin Investment Trust In the last year. It is a trending stock that is worth watching.

What is Bitcoin Investment Trust stock price?

On , Bitcoin Investment Trust (GBTC-OTC) stock closed at a price of $.