Position size review / reduction of both BTC, GBTC and alt coins prudent in light of current technical weakness
200220: BTC and GBTC further downside likely
Tag: GBTC
GBTC working on a deeper cup pattern
200206 GBTC Update
Greyscale Bitcoin Investment Trust (GBTC) is a U.S. exchange based trust that represents a fractional amount of Bitcoin. For details, see: https://grayscale.co/bitcoin-trust/
GBTC has many downsides to just outright owning Bitcoin, but it has convenience and also can be placed in retirement accounts. GBTC is a derivative investment- so charting it has risks not inherent to the underlying. Because GBTC trades at a premium (that shifts constantly) to the price of bitcoin, it is a great indicator of the opinions of stock market investors.
