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

in #bitcoin • 7 years ago

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.

7 years ago in #bitcoin by
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