Why Bitcoin ETFs Are Closer To Reality

August 16, 2017

Excitement Building

It's been stunning how fast expectations for a bitcoin ETF have turned. Hopes have been as volatile as the digital currency itself, which was last trading at an all-time high around $4,350, up 350% on the year.

After prospects for a bitcoin ETF crumbled following the SEC's rejection of COIN in March, excitement is again building rapidly in light of the latest news from LedgerX and the CBOE. Blockchain's Bogart thinks all the excitement and new money will push bitcoin significantly higher―to $5,000-$10,000 in the near term.

"We could easily see a 50% correction, but the way I see the sentiment changing, and knowing we have a derivatives market coming online, I would not bet on a drop," he noted.

 

Bitcoin Price

 

Contact Sumit Roy at [email protected]

 

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