natedagg
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Sorry I edited after my post. GBTC. It’s a Bitcoin Investment Trust
Can't get a borrow on GBTC. That's factually overvalued, based on their NAV, which has to be reported every day. It was trading 85% above NAV a few days ago. This is a simple way of saying that if you can get a borrow to short it, you buy the equivalent amount of BTC and wait for the price points to converge...
As far as cryptos, the first thing you should do is spend hours of time watching youtube and reading about them. My experience with BTC is it's slow and expensive. I just took profits on XRP and put it all into IOTA. Huge disclaimer: This is not investment advice and I am not a tech guru. I just see what IOTA is trying to do, and I am a believer. It's a strange place to be in because I really don't think BTC will be around very long, whereas XRP is already being adopted by large institutions.
Moz if you are talking about $300, then who gives a fuck either way? Just slap $3K in there so that if you get a meaningful rally, it'll turn in to something... I'd say just have a plan like $1K at $1, another at $.80, another at $.60, and see big gets hit... Don't use exact dollar amounts tho, since everyone will sit at $1, go $1.03 or .94... Jut an idea...
Oh, and here's an important one: https://coinmarketcap.com/ . To help with the ups and downs, it's nice to have market cap numbers. That way you can say to yourself, is Ripple and its technology worth $38B or not? Is Iota worth $10B or not? I think that's very important to decide, from a fundamental perspective.
I am no expert in any of this. It's just a hobby - I am also just trying to pick what retail will pile into next so that I can sell to them. Let me tell a scary story, too, just to give you an idea of how weird all this is: There's a coin called Cardano (ADA) and it's a big coin. I slap a few thousand in there because anyone new would buy something under 2 quarters to get rich, and I figured I am ahead of them. Cardano has a great story b/c a co-founder of Ethereum went there, and once that gets out there, it's really easy for idiots to take a gamble on a $.47 thing hoping it's the next Bitcoin. So next day it's at $.54. I am nosing around their site and get to here: https://www.cardanohub.org/en/genesis-block-distribution/ . I bust out the calculator and... this .54 thing was bought for an average price of $.00238 from 2015-2017! So these guys are sitting on a 226 bagger?!? Yeah....NO. Sold most at .54, the rest at .48 and peace out. Now it's at $.37. I will take a look around .12(?). My point is that if anyone is going to put $ in these things, I DO think the technology is going to change the world, but please at least research the fucking things you put your $ into. Have a plan if the money is more than $300.