BY ANDREW GIOVINAZZI
November 13, 2024
The Republicans won the election but the real winner was the Crypto bulls that keep getting the value of their alt coins going to the moon. The chart below is a 1 year chart of the ETF, Grayscale Bitcoin Trust (Ticker: GBTC). It does a pretty good job of following the Bitcoin price and there are a couple of other coins in the Grayscale ETF sphere.
1 year chart of GBTC
The sad part is that there are no options yet on this ETF. Frank and I are running a special session for all those that want to learn the ups and downs of investing in the next trends.
I have a trade idea for those that missed the Bitcoin bus.
That idea is right here.
Block Inc (Ticker: SQ) is getting caught up in the Bitcoin mania
For a while in the heady days of 2021 in the land of stimmy checks and Meme Mania, SQ was rocking as the payment fob of choice. Fast forward a few years and SQ came back to earth as the inflation ravaged hit earnings and bitcoin. SQ is streamlining their Bitcoin wallets and getting ready for the bold new future.
SQ used to be around $280 in the heady days before dropping to the $40s. I picked up shares in the 60s for Flash10 and I add some more on the dip after earnings. The bitcoin mania will ebb and flow but for right now it is on full flow and the facilitators like SQ will see some flow. I think we see $100 this year and there is a great business in SQ to go with it.
To Your Trading Success,
AG
Andrew Giovinazzi
30-Year Trading Pro
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