Panic Time is a good Buying Time. We (investors & speculators) have to have a high conviction when buying in a panic and we have to be willing to live with the volatility that come with it. We’re saying this is a good time to be buying bitcoin or a bitcoin Trust or ETF.
The charts below are for visual effect and ideas you likely know, with Bitcoin in a trust or ETF.
Bitcoin 
Osprey Bitcoin Trust – description linked here.
If you do not want to own Bitcoin as a crypto-currency, I suggest using Osprey Bitcoin Trust (OBTC)*. As a trust, it has a low management fee and trades more in-line with Bitcoin than Grayscale (GBTC) shown below.
Some will present the case, that Grayscale trades at a discount (38.9%) to Bitcoin. That discount will disappear when GBTC coverts to a Bitcoin Spot ETF. You get to decide: Traders might want Osprey for the direct correlation with Bitcoin, while long-term holders might like GBTC to capture the discount.
LOTM: will add Osprey (OBTC) to the LOTM: Ten Under $10 for the Double list tomorrow, Tuesday June 14.
Grayscale Bitcoin Trust –description linked here.
I really don’t know if the bottom is within days, weeks or months. Odds are very good the market will rally again one day. Usually, it is not the same style or industries as the last rally. I believe metals will be strong performers going forward. We are at the beginning of a decade or more of blockchain and crypto development. If Bitcoin topped out in February and November of 2022 maybe, we have a twelve of time for base building. We are close to a bottom on Bitcoin. I am usually early but sometimes I surprise myself and am spot-on. If you are in a taxable account, you will want a year of ownership to get long-term capital gains status. Start accumulating and build your position a “bit” at a time, adding along the way as you have cash to do so. Make it a three-to-five year project. Have a goal to get to target of somewhere between $100,000 and $500,000 valuation on bitcoin. That is possible. With a limited supply of coins (21 million), the odds are, Bitcoin will be trading much higher in three-to-five years than it is today.
The trick is to recognize opportunity when it “feels’ like a tragedy.
Good fortune to all.
LOTM Research & Consulting Service
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Please refer to our web site for full disclosure at www.LivingOffTheMarket.com ZTA Capital Group, Inc.
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