{"id":168691,"date":"2021-02-02T12:27:18","date_gmt":"2021-02-02T09:27:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-may-jumpstart-the-next-phase-of-the-bitcoin-bull-run-tomorrow\/"},"modified":"2021-02-02T12:27:18","modified_gmt":"2021-02-02T09:27:18","slug":"grayscale-may-jumpstart-the-next-phase-of-the-bitcoin-bull-run-tomorrow","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-may-jumpstart-the-next-phase-of-the-bitcoin-bull-run-tomorrow\/","title":{"rendered":"# Grayscale may jumpstart the next phase of the Bitcoin bull run tomorrow"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f3f143b7bf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f3f143b7bf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-may-jumpstart-the-next-phase-of-the-bitcoin-bull-run-tomorrow\/#Grayscale_lock-up_ends_Wednesday\" >Grayscale lock-up ends Wednesday<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-may-jumpstart-the-next-phase-of-the-bitcoin-bull-run-tomorrow\/#No_sag_for_Grayscale_investment\" >No sag for Grayscale investment<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Grayscale may jumpstart the next phase of the Bitcoin bull run tomorrow <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) may have traded sideways for much of last month thanks to Grayscale, but the status quo will soon change.<\/p>\n<p>According to data from on-chain analytics resource CryptoQuant, the price premium of the Grayscale Bitcoin Trust (GBTC) just hit its lowest since April 2019.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Grayscale_lock-up_ends_Wednesday\"><\/span>Grayscale lock-up ends Wednesday<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Grayscale has made the headlines frequently this year thanks to record BTC purchases and record demand, but despite the inflows, BTC\/USD has not continued to gain.<\/p>\n<p>As February begins, the Trust\u2019s purchase premium is at around $6.50, having previously been as high as $40 over the course of its existence. This historically coincides with meandering price direction, while large premiums equal large upside moves for Bitcoin.<\/p>\n<p>In late December, a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/hackernoon.com\/grayscales-gbtc-pump-effect-means-2021-will-start-slow-0gu340l\">dedicated article<\/a> in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> magazine Hackernoon explained the phenomenon as being tied to releases of GBTC shares which have been subject to a customary lock-up.<\/p>\n<p>Once they are released, Bitcoin tends to shoot higher as customers put their profits back into BTC, while the time preceding such events corresponds to a lack of price action. <\/p>\n<p>\u201cWhat&#8217;s important to know is once these higher prices and premiums are realized after an unlocking, price goes on to consolidate. This lets the premium shrink again before its next unlocking event,\u201d Hackernoon summarized.<\/p>\n<p>With the next unlocking set for Feb. 3, anticipation should be building for a continuation of the Bitcoin bull run.<\/p>\n<p>\u201cThis voids enables premiums to shrink again just like the nine times before,\u201d the article continued, correctly predicting the price behavior for the second half of January. <\/p>\n<blockquote><p>\u201cAnd it&#8217;ll keep shrinking until the next unlocking. Because of this I expect price to either consolidate or sag.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/a32f8a5b-65cd-4be5-9c8f-121290057450.jpg\"><figcaption style=\"text-align: center;\"><em>GBTC premium vs. BTC\/USD. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"No_sag_for_Grayscale_investment\"><\/span>No sag for Grayscale investment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Grayscale meanwhile continues to expand its offerings as institutional interest broadly shows no signs of slowing for either Bitcoin or altcoins.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/6d5e4d61-1046-4773-b736-b97cd14c3064.png\"><figcaption style=\"text-align: center;\"><em>Grayscale Bitcoin holdings vs. BTC\/USD. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>This week saw its Ethereum Trust reopen after being closed since December, while Feb. 25 will see Grayscale sponsor crypto-focused event the Bloomberg Crypto Summit.<\/p>\n<p>GBTC had $21.8 billion in assets under management as of Feb. 1. Ether (ETH) purchases have been on pause since Dec. 10.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/grayscale-may-jumpstart-the-next-phase-of-the-bitcoin-bull-run-tomorrow\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Grayscale may jumpstart the next phase of the Bitcoin bull run tomorrow &#8221; Bitcoin (BTC) may have traded sideways for much of last month thanks to Grayscale, but the status quo will soon change. According to data from on-chain analytics resource CryptoQuant, the price premium of the Grayscale Bitcoin Trust (GBTC) just hit its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":168692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMTMwZThhMzctZTI3OC00NjQ1LWI5MjktMWM5MTg2OThjZGIwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,80178,74937,82548,76550,73785],"class_list":["post-168691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-investment-trust","tag-bitcoin-price","tag-gbtc","tag-grayscale","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/168691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=168691"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/168691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/168692"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=168691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=168691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=168691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}