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This Is Where Smart Money Expects To Buy Bitcoin Investment Trust

Published 06/26/2018, 02:09 PM

The ETN Bitcoin Investment Trust (OTC:GBTC) has been a favorite of investors as an alternative to buying actual bitcoin. However, there has been a massive bear market in bitcoin since GBTC topped out near $40. Currently trading at $9.40, investors are wondering if the lows are nearly in.

Buy Here

The answer is 'NO.' In fact, GBTC just broke below a major support level stretching back to early 2018. This breakdown will yield another major wave of selling, taking GBTC to nearly $5/share. Once there, investors should begin to accumulate. When GBTC nears $5, watch for the panic. This should be taken as a positive and a contrarian indicator.

Daily Bitcoin Investment Trust

Latest comments

Or a sheep dressed in wolf clothing. Joao people have been saying that since 2010 lol
Smart money doesn’t buy bitcoin
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