Columnist American Forbes Kenneth Raposa (Kenneth Rapoza) believes that experts who predict space growth of bitcoin, rely on the introduction of regulation of the cryptocurrency market and access to it from institutional investors. Once these two conditions are fulfilled, in his opinion, it is possible to expect growth of bitcoin “to the moon”.
One of the precursors of such events Raposa sees the intensification of attempts to start crypto-currency ETF. Although the Commission on securities and exchange Commission (SEC) decided on 21 September to defer a decision on the applications by the company Direxion Investments for the launch of five cryptocurrency index funds, exchange-traded (ETF) on the same day it became known that the company Bitwise Asset Management sent the SEC an application for the registration of another ETF.
In addition, this month the investment Manager VanEck together with SolidX again tried to obtain from the Commission approval to launch a bitcoin ETF in the autumn of last year, was forced to abandon this idea. In this case, if earlier, the financial regulator has referred to the presence of some unresolved issues on the topic of cryptocurrencies, and now the company has provided the SEC its “authoritative answers”.
CBOE also hopes to launch a bitcoin ETF, and the corresponding application is being reviewed by the SEC, which must make a decision on it on August 10.
We will remind, in February of this year, Vice President for research and development Bitwise Asset Management Matt Hogan (Matt Hougan) said that this year the cryptocurrency market capitalization will reach $1 trillion. Venture investor billionaire Tim Draper (Tim Draper) have repeatedly expressed the opinion that in five years cryptocurrencies will replace Fiat money, and by 2022 the rate of bitcoin will reach $200 thousand. However, the managing partner of Fundstrat Global Advisors Tom Lee (Tom Lee) lowered its forecast for prices of bitcoin from $25 thousand to $22 thousand by the end of 2018. According to CoinMarketCap, and today a bitcoin is trading for about $8254.