3 weeks ago
42
Summary
- Record-setting inflows into crypto funds, driven by Trump's re-election, have bolstered the Global X Blockchain ETF (BKCH), despite its small size and high valuation.
- BKCH's portfolio is concentrated, with top holdings like Coinbase and Riot Platforms, and features a high price-to-earnings ratio and significant non-US exposure.
- Bitcoin seasonality trends are bullish, but technical indicators suggest near-term risks, including a bearish RSI divergence and potential downside price gap.
- I maintain a hold rating on BKCH, citing its rich valuation and technical risks, balanced by positive long-term trends and favorable bitcoin seasonality.
koto_feja
Money has poured into the crypto space since the re-election of Donald Trump. Even in the weeks leading up to November 5, bitcoin and crypto stocks were seeing strong inflows, perhaps on the expectation that the new president-elect would indeed construct
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