The crypto market has been rather quiet lately. The available data show that the market capitalization has remained relatively stable. Since September 21, it has ranged from $ 200 billion to $ 220 billion.
Not every crypto investor is satisfied with this phase of relative market stability. Of course, those who invested in the last boom are hoping for the eagerly awaited rally. That's the only way they can get the money back and maybe even make a profit with their cryptosystems. What the market is currently missing, is a trigger that gets the ball rolling. Blockchain investor, adviser and influencer Oliver Isaacs believes this trigger could come from the SEC.
Bitcoin-based exchange-traded fund approval
Many crypto experts believe that a market recovery is inevitable. However, some observers also believe that a rally is not coming soon. They will probably take place next year or in the next few years, they say. In contrast, the opinion of Oliver Isaacs, As Forbes reported. Isaacs believes that Bitcoin-based listing of exchange-traded funds (ETFs) may be the big trigger the market is waiting for. Forbes quoted him as saying:
“The approval of a Bitcoin-based exchange-traded fund will open the floodgates. New investors will invest billions of dollars in cryptocurrency with the same ease with which they invest in equities and all other mainstream asset classes. “
Bitcoin could rise to $ 22,500
If the US Securities and Exchange Commission (SEC) approves Bitcoin-based exchange-traded funds, Bitcoin could lead to new price hikes. To Forbes, Isaacs said that for him the situation was similar to that of gold in 2003. Isaacs said:
“The precious metal rose more than 300 percent in March 2003 following the initial approval of an exchange traded fund.”
The approval of an exchange traded Bitcoin based funds could have a similar impact on the price of Bitcoin. If approved, Isaacs estimates Bitcoin could rise to $ 22,500 per coin.
So far, the SEC has rejected a number of applications for such exchange-traded funds. These included, for example, repeated requests from the Winklevoss twins. I had already reported on it in the blog. However, there are still further applications. These include the application of VanEck and SolidX, which should be decided by 30 September. Nonetheless, the SEC appears to need further review and has postponed its decision on this application to December 29, 2018.
Sources: Forbes, CNBC, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/blockchain-investor-genehmigung-der-sec-wird-bitcoin-kurs-auf-höehenflug-schicken/
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