Bitcoin bounced back above $4, per unit on Monday, according to Coindesk, but has been falling so far Tuesday. Bitcoin Investment Trust (GBTC) is down more than 1%, but continues to trade at a near  % premium to its net asset value. The cost of entry might be worth it, especially if Bitcoin hits $6, in the near-term, according to Fundstrat's Thomas Lee.

Lee, in a report published yesterday, said China's latest move against bitcoin is a "short-term headwind," because the region only represents 20%-to% of worldwide trading volume, and that other exchanges will likely fill the gap that China's leave behind. He thinks bitcoin as the "gold investment of the millennial generation" will ultimately displace the yellow metal in portfolios and argues that Bitcoin could be valued at $25, per unit in five years if it takes just 5% share of the alternative currency market. Lee explains:

We believe this week's reversal likely defined another important trading low for Bitcoin. Why? % corrections have not been unusual for Bitcoin since September's correction is already showing evidence of reversing from important technical support defined by its rising long-term uptrend (dma) coinciding with price support near the June highs ().

Bitcoin ETN, GBTC, captures much of the upside of Bitcoin. Investors looking for exposure to bitcoin have limited liquid instruments on exchanges. GTBC, an ETN issued by Grayscale trades at a premium to NAV but if Bitcoin reaches our near-term objective of $6,, our matrix shows GBTC captures most of the upside even at a range of NAV premium.