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Posted: Sun Apr 18, 2021 10:52 amPosted: Sun Apr 18, 2021 10:03 pmPosted: Mon Apr 19, 2021 7:18 amSince cryptocurrencies are not widely used to buy goods and services, their only function, as an investment, is to act as a hedge against major currencies depreciating.
Uunless China, the United States, Europe and other major nations strengthen their supervision over cryptocurrencies, or even restrict their use, Bitcoin will not become worthless.
Money may have been quietly moving from cryptocurrencies into energy and commodities .
Posted: Mon Apr 19, 2021 9:23 amPosted: Sun Apr 25, 2021 8:17 amThe difference between the share price and the underlying value of the Bitcoin holdings is roughly negative 19% as of Thursday’s closing prices.
Grayscale Investments has sought to blunt the widening discount by buying back shares, and said earlier this month it’s “100% committed” to converting GBTC into an ETF.
It is “most likely to trade at a discount until it converts to an ETF,” said Mohit Bajaj, director of ETFs for WallachBeth Capital.
Posted: Mon Apr 26, 2021 7:29 amI still hold my opinion from last week that it will be no surprise if it goes down to US$30,000 in the short term, given that the cryptocoin was trading at that price at the start of the year, and as low as US$3,000 a year ago.
While the CRB Index reflects that commodity prices rose more than 70 percent over the past year, if you look a little deeper, you will find the index has only returned to its 2018 high.
This means there's room for a more than 50 percent increase to the levels reached in 2014.
Posted: Mon Apr 26, 2021 2:28 pmPosted: Mon May 03, 2021 7:20 pmPosted: Thu May 13, 2021 3:11 pm