Investors Are Selling Bitcoin ETFs. Here's Why Now's the Time to Buy.
It can be smart to be greedy when others are fearful, and now is one of those times.
Investors Are Selling Bitcoin ETFs. Here's Why Now's the Time to Buy.
Overview
When popular crypto exchange-traded funds (ETFs) start bleeding capital, it's natural to want to head for the door yourself. Spot Bitcoin (CRYPTO: BTC) ETFs have shed in the ballpark of $3 billion across 10 consecutive trading sessions, with the iShares Bitcoin Trust (NASDAQ: IBIT) absorbing the brunt of the outflows. The salt in the wound was on May 26, when an unidentified actor unloaded more than $1.2 billion of IBIT shares at a 2.3% discount, accepting a loss of nearly $30 million for an instant exit. It's usually not a good sign when big players make a hasty exit, taking a multi-million-dollar loss to make it quick.
Nonetheless, this is precisely the kind of stretch that hands long-term holders an opening. The coin's fundamentals haven't moved an inch. If you're patient, this could be a great time to start buying. Here's why.
Image source: Getty Images.
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Originally published at www.fool.com.
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