1 Bitcoin can cost from 50 000 to 100 000 USD in 2018
Temporary volatility of Bitcoin is a tool for its dramatic growth and the opportunity for the rest of time to enter the market. From 2013 to 2015 bitcoin dropped from 1200 to 200 dollars. And from 2015 to 2017, he immediately increased from $ 200 to its record high of $ 20,000. We offer to understand what to expect the main cryptocurrency by the end of 2018, and what factors can affect its value.
Back in February, when Bitcoin was trading around the level of 10 000 USD, Anatoly Arzhantsev , co-founder and Director of the Freedman.Crypto club News, predicted that Bitcoin may again begin to decline. He established a level of $ 5,000 as a bottom point. And after such a big fall, unexpectedly suggested a record growth of BTC from 50 000 to 100 000 USD by year-end.
For traders who invested in Bitcoin during the past years, lowering the price from 8 $ 260 on 24 July to 6 097 dollars to date, according to the World CoinIndex, is not a signal of the end of BTC. But on the contrary, this is a sign of increased volatility, an indicator that Bitcoin may not only grow and far exceed the previous high.
The value of 50,000 U.S. dollars is subject to approval by the SEC
Bitcoin certainly is able to get to the level 2500-35000 dollars, but there is a way is the possible approval of bitcoin Futures (ETF) with the securities and exchange Commission (U.S. SEC) to achieve the level of 20 000 and even 50 000 USD by the end of 2018. The SEC has not yet responded ETF, and may continue to defer a decision on the recently rejected proposal from VanEck / SolidX, extending the review period until 29 December. However, the Commission said it will decide on September 30.
The upcoming deadline to answer the SEC on the application submitted by the new York stock exchange, the Bitcoin ETF and ProShares Short Bitcoin ETF is August 23.
Review by the SEC there are three futures ETF. As far as we know, each application will be reviewed closer to the end of the maximum period (240 days). The first application for approval is Proshares August 23, the second — GraniteShares 15 September and the third on September 21. Considering the opinion of the SEC that the markets of CBOE and CME small size, it is unlikely that these ETF will be approved. Any disapproval or a negative comment from the SEC would lead to further selling.
What could change the course of events?
There is one key factor that can change the course of events: the appointment of a new Commissioner of the SEC. Each Commissioner is appointed by the President with the consent of the Senate for five-year terms. Currently, one of the four, Commissioner Stein needs to be replaced and the White house is considering the candidacy of Alison Lee. In the near future will be replaced by a single Commissioner, and added another to the new vacancy. Winklevoss ETF was rejected with a vote by SEC with result 3:1. The addition of two new commissioners could significantly change the views of the SEC on the coming ETF.
She held the position of attorney SEC. The Wall Street Journal reports that during her stay in the position, she was engaged in cases against JPMorgan Chase and Credit Suisse, mortgage-related securities that precipitated the financial crisis of 2008.