Buying GBTC around 15-20 and selling most of it at about 44 was the best trade in the last year.
It is very hard to sell when everything is going your way, it looks like the rocket will never end. In this case most of my funds was in GBTC. The tell that drove me to sell was the very high premium GBTC was trading at vs the underlying fund value. On January 6th the premium was 33%, I figured the premium would come out which would result in a lower GBTC price. But GBTC kept going, Thursday trading at 24%, culminating Friday at 17% with GBTC hitting $48 a share.
There was a market euphoria that hit both Bitcoin and GBTC. Honestly when I looked at GBTC I thought every sell was a mistake. But at the end of Friday Jan 8th I sold more.
To see the premium you can go-to Grayscale web site to view the data. I found another site below.
https://ycharts.com/companies/GBTC/discount_or_premium_to_nav
Bitcoin and GBTC are starting the capitulation process. My hope is to buy GBTC 26-33 range. I believe things will ramp up once democrats give more free money to people. The extra money will go to bitcoin and certain stocks as people try to make a quick buck.
As of Thursday nite, the 21st,
I am 75% back into btc and eth coins, and looking to get 75% into GBTC Friday, especially if it's a gap down open.
Good luck!
I
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