If volumes start picking up in bitcoin then U.S. exchange traded bitcoin tracker that trades under the symbol GBTC will likely get S.E.C. approval for options trading. I once tried to see if the shares could be shorted and no shares were available to short. I doubt they ever will be being that bitcoin price can easily make $500+ price swings in an given 3 trading day period. But, keep watching GBTC. I actually post updates on it technically...including my first update in awhile today.
I thought it was brilliant that our local elliott wave guru siad it would be better to panic if you wanted what was best for your long term bitcoin holdings...as I said it myself in that GBTC update. ew-and-patterns gets my endorsement even before today however. he's been pretty spot on with bitcoin. I wish he would just stay put with his BTC prowess and stop playing with other crypto shit actually. :-)
As an investor I hate volatility of 2000+$ in a short time. As a trader of OTC BTC I love it!
What OTC bitcoin tracker should I look at to play BTC? For the record I wouldn't personally enter a position one way or the other based on today's GBTC close...but what are alternatives to GBTC? Tanks.
I personally like the bitstamp charts the most. Can't even explain why, but this is what I look at all the time
ETF is going to open the way to manipulate crypto prices just like they do on any commodity like silver gold. Bad for cryptos.
Bitcoin price is already manipulated by large volume buyers and sellers. It used to be that you could pretty much easily daytrade BTC on volume spikes at lows and highs. Not so much lately since the hedge funds took over. A compooter can dumpf on you ass at any given time. It all depends on the idiots determining the sell trigger.
I'm talking about a much deeper manipulation.
No such thing. Deeper manipulations are either signals by "the" market that price was waaaay off to the upside...or the downside. Once a bear marekt in BTC begins there won't be any coming back to highs until multi-year lows are made. Not sure that the $5K high will be taken out but BTC HODLers can at least rest assured that it "should be"...at somethime in the future. The future can start at BTC $1000 tho.