Grayscale ETNs GBTC which tracks the price of bitcoin and ETHE which tracks the price of ethereum both gapped higher at today's open on the breakout in bitcoin above $20,000. Historically, when bitcoin breaks to major new highs, it tends to trend higher overall, notwithstanding sharp corrections where it can lose 1/3 of its value due to profit taking or negative news. This type of correction looks tiny on a log plot of bitcoin such as in 2017 when it had a number of such corrections as it vaulted from around $1000 to just under $20k.
Ethereum typically then outperforms bitcoin as it is looking to do. Finally, the alt coins follow with the best ones outperforming ETH. A number of key top names (LINK, AAVE, YFI, etc) are on the crypto focus list.
In stocks, cannabis medicine supplier TLRY also had a BGU.
Buyable Gap Up - GBTC ETHE TLRY
|Published:||16 Dec 2020 12:36 ET|
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.