Analyst: Predicting Bitcoin prices based on GBTC premium trends is worthless

Encryption analyst Alex Kruger said on Twitter that the expected price correlation between bitcoin price and GBTC premium has little predictive value, and the correlation with lagging premium may make it impossible for traders to use this data to predict BTC/USD valuation. Future price changes in the middle. He said that GBTC's premium to net asset value (NAV) reflects current market conditions, but is not a leading indicator of BTC/USD. It is worthless to predict the value of Bitcoin based on the GBTC premium expansion/reduction.