Tag: BITO
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How to Trade Bitcoin Downside
After exploding from about $27,500 to a recent high of $52,985, Bitcoin has become technically stretched on RSI, MACD, and Williams’ %R. And, after a run like it’s had, BTC is overdue for a breather from current overbought conditions. One way to trade further potential downside is with the ProShares Short Bitcoin (BITI). This one…
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The Bitcoin FOMO Rally is Far from Over
The Bitcoin rally is just getting underway. In fact, after crossing the $50,000 threshold, it could see higher highs. According to analysts at Bernstein, “Bitcoin’s best days are yet to happen as the ETF-driven market fuels fears of missing out (FOMO). In this context, they believe BTC is well-placed to soar to new record highs.”…
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Top Ways to Trade the Latest Bitcoin Rally
Bitcoin (BTC) is exploding again. And as long as that lasts, you may want to jump into its beneficiaries, including the mining stocks (Marathon Digital and Riot Platforms) and even stocks in companies with significant BTC holdings, including MicroStrategy (MSTR). Even the ProShares Bitcoin Strategy ETF (BITO) should push aggressively higher. Part of the reason…
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Cathie Wood’s ARK Invest Just Took a Big Position in BITO
For quite some time, we’ve been talking about using the ProShares Bitcoin Strategy ETF (BITO) to benefit from the rise of Bitcoin (BTC). We’ve noted, “BITO mimics the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO…
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How to Trade a Potential Bitcoin ETF
If you believe the value of Bitcoin will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.com. BITO mimics the price of Bitcoin…