Bitcoin selloff overdone? Why Grayscale says 'No reason to panic'

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 Despite recent selloffs, Grayscale remains confident about the future of Bitcoin, urging investors not to panic. After converting its Bitcoin Trust (GBTC) into an exchange-traded fund (ETF), Grayscale has seen substantial outflows, leading some to speculate that Bitcoin’s price could be affected. However, Grayscale insists that the selloff is not an indication of any fundamental weakness in Bitcoin. The company believes that, while Bitcoin’s price may experience fluctuations, these movements are part of the natural market process and do not signal any long-term issues.



Grayscale’s perspective is echoed by several industry experts, including Galaxy Digital CEO Mike Novogratz, who suggests that the current market volatility is temporary. He predicts that the Bitcoin market will stabilize in the coming months as investors move into new funds with lower fees​


. While some analysts fear that Bitcoin’s price could continue to drop in the short term due to institutional disinterest, others see this as a normal correction after a strong year for the cryptocurrency​
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In short, while the recent selloff may have caused some concern, Grayscale's message is clear: there’s no reason to panic, and the broader market is expected to recover

Also read:Public Mining Companies Poised for Growing Revenues as Bitcoin Tops $100,000

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