Is This Bitcoin Rally For Real? [Forbes]
GRAYSCALE BITCOIN TRUST (GBTC)
NASDAQ:AMEX Investor Relations:
grayscale.co/bitcoin-investment-trust
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Source: Forbes
Blast Off For Crypto? (Shutterstock) I have been bearish on cryptocurrencies for a number of months now. I was feeling good about that view as Bitcoin flirted with breaking $6,000 again as recently as July 12th. Then it took off. It went from $6,185, to $6,662, to $7,314 in just 2 days (according to Bloomberg data). That description doesn't do justice to just how quickly it shot higher. According to Bloomberg data, Bitcoin was at $6,785 at 1:35 pm EST and got as high as $7,425 by 2:05 pm EST. A 10% move in half an hour is extreme, even by bitcoin standards. I have seen many explanations for the move - but none are completely satisfactory. I continue to believe that liquidity remains low in many markets (already this year we have had moves in VIX that were considered nearly impossible and Italian 2-year bonds experienced what was at least a 10 standard deviation move). That low liquidity in an algo driven world has proven susceptible to rapid gaps in p
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