Good News for Cryptocurrency! It's Happening For The First Time Since May 4th! 2020 Replay?

Bitcoin has once again surpassed $28,000. It's exciting because the trillion-dollar giants' cryptocurrency strides have also accelerated this month. More importantly is the improvement on the GBTC side, DCG founder Silbert may be sleeping more comfortably for a few days.
GBTC is a Bitcoin trust and is not redeemed like an ETF. The rumors about the company, the negativities about cryptocurrencies caused it to fall below the required value many times. However, for the first time since May 4, the negative premium for GBTC fell to -36.61%. This metric is important for tracking how far a security is trading from its true value. This is an important metric, especially for closed-end funds, because CEFs do not issue any additional shares after their initial offering. This may cause the price to diverge from the actual net asset value of the funds.
So why is the GBTC negative premium decreasing? So why is the price rising to the point where it should be? This is due to increased GBTC demand. As we announced earlier, GBTC demand may continue to increase within this period and we may see rapid steps in the Grayscale-SEC case (withdrawal of the case, SEC settlement, etc.). We announced the BlackRock application last minute. This company is the world's largest asset management company in the US and globally. This is why experts think his intention to enter the Bitcoin ETF business will be successful.
The SEC has found its way to a boost, BlackRock is not a company the SEC can fight much of, both politically and economically. It is not possible for him to say that we do not approve the Spot ETF again due to the market volatility, especially while the Futures ETF has been approved. In the unlikely event, BlackRock's power could crush Gensler and his crew.
Cryptocurrencies May Rise
Bitcoin is currently finding buyers near $28,100, but it's hard to talk about a clear reversal without creating new support above $31,000. If it happens like the PayPal news in 2020, the next weekly closes (like last week and possibly this week) should be with a green candle. So the steady rise of the price should continue.
If BTC continues this movement by making higher lows, the Genesis FUD may also cease to be a threat to the market. Emerging markets and the falling negative premium of GBTC are most pleasing to DCG founder Silbert.
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