When bitcoin is in an uptrend, a very profitable strategy is to buy GBTC when premium to NAV is low, and sell when it reaches extremes. This can be far more profitable than buying bitcoin itself.
try the GBTC/BTC(bitfinex) premium percentage indicator
Ian_Carsen
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@I-love-lamp, I tried your indicator, but the percentage numbers it spits out don't correspond to even those implied on the greyscale website, and it is very limited in how far back it goes on the chart. The presentation is nice and clean, however.
I-love-lamp
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@Ian_Carsen, true, it only goes back to the split. and the calculation has been fixed, it now correctly corresponds to greyscale & bloomberg
FreedomHouse
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Thanks for this
TraderSalad
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Thanks for this. I have done very well with GBTC before the 9-1 split and now I'm accumulating a position patiently scaling in at these prices. The NAV correlation to premium is important and you spelled it out nicely. I've put you onmy favored script list looking forward to future charts.
Ian_Carsen
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@TraderSalad, congrats on the success and thanks for the comment! I used to use an excel sheet to keep track of it before. This is a heck of a lot better!