It looks like we will hit 10 000 USD on BTC soon.

in bitcoin •  last year

GBTC is a Bitcoin Investment Trust which allows big official players to invest into Bitcoin legally.
It is always a good indicator of future ie check my post that predicted price going down here

And currently, GBTC traded at 10 000 USD per BTC!

The math on this is a little bit complex, 1 share is 927USD and you need 9/100ths to meet whole BTC. SO adds up to 10k USD!
1 share is 0.09258535BTC right now.

If you are day-trading do what you want but id rather suggest playing leverage than selling/buying actual BTC ie at BitMex or SimpleFX.

We dont know when this will take off and would suck to sell and not rebuy. Of course decide yourself.

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STEEM is also poised to do well soon it seems... However, I think one would be silly to not power down a little to hedge into Bitcoin. There is going to be MASSIVE growth on both sides of the chain this year before year end.

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I agree, @netuoso. The dev team is rolling up consecutive updates. This will cause the price of steem to increase too.
It is very difficult now to decide which of the two (BTC and Steem) shall grow better ?

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@netuoso balanced level headed thinking.. good call brother.

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(____/)
( ͡ ͡° ͜ ʖ ͡ ͡°)
\╭☞ \╭☞

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I agree with you, about steem being the next big thing as analysed in my blog post this week(feel free to see it). Upped and following you in order to stay in touch. Good point indeed. Time to get more steem power plus some bitcoin too.

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Well BitCoin is now dropping rapidly...any change of opinion?

I m amazed!!! People are being charged so much for btc currently? Waiting for Steem Investment Trust to be priced $1000 per steem soon.

to the MOON !

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It's good to keep an eye on the traditional investment products to get a picture of how the big whales are slowly jumping into the crypto arena
Good Post

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Good point, you are now starting to see some celebrities get into it.

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Yes even Flloyd Mayweather. It's getting crazy. Exciting times are ahead.

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lol Nobody wants to get fired

What is the premium on GBTC normally?

Is it shortable? There would be a huge arbitrage opportunity there if it were.

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you can not find any shares to short...IB is out for sure

good post

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This post received a 2% upvote from @randowhale thanks to @mountrock! For more information, click here!

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Check out truth revealed decades ago: https://dtube.video/#!/v/ragetester/6xicf9st Feed the government! Or was I looking for a different f word?

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This seems very off topic and spammy

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No more mr. nice guy?
Spread the word, save the world

Imagine the next halvening in 3 years, it will jump 10x

Yes, this indicates a huge demand from wallstreet investors so a lot of money will brought to bitcoin by them!

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@michiel
I support with your comment 👍
Upvoted
@kingscrown
Bitcoin to the moon soon 👌

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@michiel @kingscrown could it be that people who took money out before segwit now gained confidence and is reinvesting? Either ways its good news for who invested in it. Mine was a very small share so even thoe the gain is not huge its considerable.

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you are right bro

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Wallstreet investors? do we really need this type of market manipulation, greed and corruption?

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I totally agree. They don't seem to be the type of people who will hold Bitcoin as a store of value, more pump the price up by injecting millions in then selling off in one go dragging the price down with it. Very worrying times ahead.

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definitely very worrying when these guys get involved. If the exchanges and the pump and dump traders aren't careful, the mass of people with the vision of world financial evolution WILL leave this space, however sad that would be, and the greedy bunch will be left trying to pump and dump on each other. The average guy is tired of being extorted by these idiots.

thank you kingscrown, the future is looking bright.

Facebook vs Crypto.png

10K may sound ridiculous right until you read this;) https://steemit.com/bitcoin/@cryptoeagle/cryptocurrency-wallet-users-vs-facebook-users-where-are-we-now-making-the-case-for-the-million-dollar-coin

This is only the beginning folks, relax and enjoy the view while we get there!

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you are right this is going to be badass.

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Actually no its not, sooner or later the government will start regulating bitcoin and ruin yet another good idea. Just like it always does.

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Brilliant! Thank you!

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That´s exactly how I feel

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it's a very helpful post, thank you !!!!

Pro Tip - if you can't see an image clearly, right click and open it in a new tab for the full size version.

I totally didn't understand this post. Why would BTC trade at 10k per share now with them?

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They're basically saying 1 share of GBTC is 0.09 BTC (which costs $927 right now). So based on this 1BTC should be $10,300 = 927/0.09.

But my question is that who said 1 share of GBTC is 0.09? I mean it can be just an agreement!

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I have the same question...

I think it can be before October starts

10,000 is a rather arbitrary number, makes for a good blog post title of course.
Why 10,000 instead of say 7,000 or 15,000?

Seems like a way to screw traditional investors by having them pay ridiculous premiums for OTC type investments.....

Not sure that this means that btc will go to 10k. Although, I sure hope it does. Or, are OTC (Over the Counter) and this something completely different?

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It looks like the direct funda of demand and supply. Suddenly the demand is huge and prices are hiking. Obviously it managed to keep up with the invester's confidence.

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Absolutely, the finance industry sharks are going to go into a feeding frenzy and gouge investors. But is this not what they, the middle men have always done? The premium that you pay for "security"... ahem, extortion.

Very educational analysis, love it kingscrown. Thank you for sharing your know how with us minnows.

Follow me @Yehey
Thank you.

Cool! Let's hope it will reach 10000 soon!

I never have seen about this! Thank you

Bitcoin to the moon and will take steem with it......thanks for the update

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Bitcoin will collapse.

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Hope not but I care more for steem and posted my reasons 2 days ago via my blog post. However Bitcoin will survive if the issues are resolved

good job
well done

Bitcoin is to give the force of the digital coins

It's gonna be more buddy

Its headed up with no sign of stopping or slowing down, that 3200ish you 3600ish boom spike a few days ago was insane. Still holding.

Also big talk with the new UBER CEO being a big bitcoin fan and rumors of adding it to the app summer 2018 would be huge!

alright alright alright!

Great news! I would like to see that.

I really hope bitcoin can get to this level soon, but I also hope they can stay lower for a while longer, so I can collect more at lower price.

amazing keep it up man

Thank you

wow tips and tricks are very useful, i will try to do it. but whether investing bitcoin legally does not interfere with other things or arise problem? I like your post about bitcoin

I am new to this, but value articles like yours @kingscrown. I am so glad to have joined the party, as it seems about to take off. Thanks for posting, followed and upvoted.

Something is going on with GBTC..its still moving at a much faster growth rate than BTC..and their trust doesn't hold their paper worth in BTC..the SEC is halting too many crypto back stocks

I knew $10,000 would happen, but I figured it would be much longer, but since the week or so before the split when it really rallied, it seems like it will be much sooner than expected.

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i want to see a psychological test of 5k first

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It's coming, and soon.

Certainly possible and worth getting exciting about, but I urge everyone to maintain a sense of reason and always keep in mind that markets can stay illogical longer than you can remain solvent.

when will bitcoin go down for a while? I want buy more...

Really informative 😍

Bring it on @kingscrown!👍

True to form, here is another one of your super informative post. Yesterday, I registered to your newsletter but fortunately for the Steemit community, here really seems​ like the place to be to catch most of your regular goodies. :-)

Didn't Clif High predict each BTC is going to hit somewhere around $14,000 by next February? As the dollar continues to lose its intrinsic value, all viable crypto coins will see their values soar. This is an irreversible trend.

nice analysis thanks for info

Then let us invest more in Bitcoin!

Great post, bitcoing and steemit to the moon! Check out my introduction post I just shared when you have a chance!

So much great news for Cryptos!

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Interesting perspective. Use GBTC to predict likely future rise in BTC. Some logic in that.

At least until later this year when the get BTC futures going, and GBTC price will crash back down closer to actual NAV

Nice article

It's very possible to hit that mark, the way btc is trending every year. Volatile, yes. But definitely worth investing for.

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Yes!! We will see end of this year....

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Guys, please upvote I will do the same in return.
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Not economict, especially cryptoeconomist, so is it math proven prediction

Oh and check my post about car sharing, I'm a minnow and gotta advertise myself somehow so don't be angry

Bitcoin is incredible. Whatever is hapennig, this cryptocurrencie is still going higher and higher. This is a proof of stability, which is a very important point for any investor..

obviously, it was not unexpected ehehe :P

Most of the trading technicalities are beyond my level of comprehension, but BTC is definitely on an uptrend with every reason for growing in value.


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Hey guys I don't understand can someone please but me through?

Recently, most of people say same thing. Everyone expects that BTC gonna hit to 10k. And after you mention about it as well. It made me to be more sure on it. Thanks ;)

cool stuff 10k tomorow next year 100k

GBTC always trades at a premium versus BTC.....it is an expensive way to go...although you can use it in IRAs in the US.

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of course it trades premium but so far sooner or later price meet their premiums ;)

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there is something sketchy going on with them...still wish i was long their stock

so are they profiting off the investments their customers are making?

Thanks for the analysis

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It will grow to moon as More governments try to restrict the crypto. still majority of people do not know or understand crypto. There will be no limits once they come to this market.

Follow me @ayurvedam

GBTC has been an accurate price predictor of Bitcoin only because of two unrelated factors:

  1. That GBTC is monstrously overpriced.
  2. That Bitcoin is monstrously growing.

While I agree that Bitcoin will go to $10000 eventually, I cannot endorse GBTC as a predictor, as the correlation between these two factors is weak, at best, and hardly suitable for any kind of predictive algorithm.

wow, great that you post news like that!

its going on its reaching the sky of the crytoworld or we cn say in real world also

nice post

This is sick results indeed.

investors loving it good time indeed it will hit that target soon enough !!

Hopefully we can get a Christmas pump of BTC. Its always good to have a little extra cash to help with those holiday credit card balances.

Good posting

Every time I think Bitcoin is expensive. It rises even further :(

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Cuz people are dumb enough to keep buying it. Its like the stock market in 2007.

I think that the more real bitcoin will reach 6000 dollars. I think this year will make it much more real. I expect such growth in the autumn.

It would be silly not to HODL bitcoin! Always at least >30% of your portfolio should go into bitcoin! Easy money!

It is great to see that the GBTC is on a general uptrend.
Hopefully we will get more investments into crypto and I'm sure of it as the summer comes to a close and people come back from holidays. Let's see what September has to offer for crypto

finger cross if we btc could reach there that will be massive !!

I can't say this info looks satisfying just to get upvote from others bro.

To be honest, I unable to understand the concept bro.

However I'm curious to know how a bitcoin is traded and 10$ dollar here.
I request you to post it in your next post with more details.

Cheers!!!

This is really a good thing for all Bitcoin holders when it comes true. Yes, it will hit $1M per coin one day, no doubt about it but $10,000 per coin is still good!

HODL!!!

I do not understand one thing about crypto... what if everyone becomes millionaires in crypto. it doesnt make sense. no one will buy crypto..

Good news, if BTC goes up. Alt coins will follow, for sure.

I love doing online mining i will be making gains all the way up.

Pls 500$

It's worth taking into account that GBTC is sold at a gigantic premium and also includes the forked Bitcoin Cash in an equal amount to the BTC it is backed by. GBTC is traded at about double its NAV to account for a perceived reduction in risk. The NAV of one share is still about $500 USD, not $1000.

By the way,who is loosing when bitcoin rises?As long as there is no looser in bitcoin rising,it will keep on going high until the sky.

I think it will hit 10k sometime over the next month or three and then at the end of the calendar year it will be at around 6.5k

Bitcoins es bueno

That will be a wonderful surprise for the month of September! @kingscrown

If you have the right ratios, the math isn't complex at all.
The real question is: Are you simply owning bitcoin naked, or arbitraging it with GBTC. Seems unless arb'g it, then your conclusion about GBTC being an indicator is not correct.
So tell us if you're arbing or naked buying?

Here's a pro tip. Coins go up in price dramatically as soon as they list on an exchange. I use this site to get a notification in real time as soon as that happens - www.icowolf.com/wolfpack-2

Here's a pro tip. Coins go up in price dramatically as soon as they list on an exchange. I use this site to get a notification in real time as soon as that happens - http://icowolf.com/wolfpack-2

Let's wait and see. I am eagerly waiting to see when it will touch $5000 and when this happens the whole world will start investing in Bitcoin and in turn the prices will go up to $10,000 by the end of this year.

I think the 100% premium on GBTC is that a lot of wealthy people don't really know how to buy a Bitcoin & store it safely/securely.

Those same people have big accounts with brokers and only have to make a call to buy the fund. Much easier.

Informative one! candle chart pattern looks interesting

Thanks for the tip <3

Looks like we'll need a CRYPTO card really soon 😂🤑

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