Recommended at $23 in November 2020 (see link below), the Grayscale Bitcoin Trust ( OTC:GBTC) increased materially from $39.13 on October 5th to the current price of $53.46 (up more than 30%).
#OVERVIEW BITCOIN NOVEMBER UPDATE#
Since my October 5th update article dropped, my core crypto investments had excellent results ( as of November 9th, 2021, a roughly 35- day period): Update on Portfolio of Blockchain Investments These fund flows are likely to fuel the last leg of the current bull market rally.Īmong other milestones in this fourth quarter thus far, the total market cap of crypto has now exceeded $3 Trillion. Notwithstanding the all-time highs, I reiterate my view that we are firmly in bullish territory for crypto and expect the bullishness to continue into January 2022 in particular, I expect a massive flow of funds into crypto in the beginning of 2022 as institutions that have not heretofore invested start to invest in the space (in connection with their quarterly portfolio re-balancings). As a matter of course, I booked some profits. Since that article, both Bitcoin ( BTC-USD) and Ethereum ( ETH-USD) have reached all-time highs multiple times, most recently on November 8th. Historically, the fourth quarter has been when the magic really happens in the crypto space.
I reiterate my expectation for new all-time highs on Bitcoin and Ethereum before this latest rally is over. N my view, we are firmly in bullish territory for crypto. In my October 5th update, I wrote the following: This article continues an ongoing series covering my blockchain portfolio strategy. Monsitj/iStock via Getty Images Introduction
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