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Non-Tech : GBTC: Bitcoin Investment Trust (Not an ETF) OTC:QX
GBTC 83.39-3.8%Oct 30 4:00 PM EDT
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From: Elroy11/17/2020 1:01:12 PM
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Well, it seems like Bitcoin may be off to the races, and pull GBTC up along with it.
Once BTC breaks through it's all time high there will be no natural sellers. I don't know who would be selling BTC now since it seems like it wants to run higher.

In 2017 it went from about $1,000 to about $19,000.

This year it has about doubled.

Keep in mind it's more like a financial asset than a company. So...while a company needs to grow and grow revenues and profits to have an ever increasing share price, all Bitcoin needs to have an ever increasing share price is .... more buyers than sellers. History shows that the price of Bitcoin can grow by many multiples in a short period of time (one year) so the fact that it has doubled this year DOES NOT mean it's run up is near completion. I think its more like that the doubling of the price will bring Bitcoin back into the mainstream media news, and all the people who watched and didn't buy in 2017 will consider buying now, and if 1% of them actually do buy some Bitcoin, voila, there's your buyers.

In the end I think it's just one big bubble, but I could be wrong......and even if it is a big bubble, it's a currently inflating bubble.
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