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How High Can BTC Go If A Bitcoin ETF Is Approved?

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Bitcoin ETF
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Bitcoin (BTC) has on numerous occasions been referred to as the digital gold of the 21st century. You can see the relationship to physical gold is not only the color scheme of the Bitcoin symbol – ₿ – but also due to the fact that there is some ‘digital mining’ that has to be done to get some BTC.

Having established a link between Gold and Bitcoin, let us go back in time to March 28th, 2003, when the first Gold ETF was launched on the Australian Securities Exchange. The name of the ETF was Gold Bullion Securities and Graham Tuckwell, the founder and major shareholder of ETF Securities, was behind the launch together with M. Rothschild & Sons (Australia) Ltd, Citibank and Deutsche Bank as market makers on the Australian Securities Exchange (ASX).

On that month, the price of Gold was hovering around $330. Eight years later, on August 29th, 2011, the price of Gold was at $1,788 per ounce: an increment of 442%. The 2011 price is 5.41 times that of 2003.

Gold prices since March 2003. Source, goldprice.org

Using similar figures of increment as those witnessed with Gold after its ETF went live, and the current levels of BTC, the price of Bitcoin (BTC) would get to $43,280 due to the SEC approval if its Bitcoin ETF is approved. Another method would be to project the price of BTC by mid-August. Using a conservative estimate, this value will probably be around $10,000 if all goes well. This means after the ETF announcement, BTC could get to $54,100.

Knowing that the crypto-markets function on an accelerated rate faster than that of traditional markets, the time frame to reach this value might not be 8 years as is the case of Gold. This $43,280 price might be reached in a year’s time given that Fundstrat’s CEO, Thomas Lee, has already predicted a $25,000 BTC by the end of the year.

But then again, Thomas Lee had not factored in the Bitcoin frenzy being fueled by the pending Bitcoin ETF decision. Therefore, if the SEC manage to approve the said ETFs before the end of the year, the value of $43,280 is achievable around Christmas this year or by early January.

The exact date of the SEC decision on the ETF has been estimated by many as being August 16th due to the clause that the authority usually makes an announcement 45 days after a filing is published on its website. However, news coming in indicate that the SEC will most likely postpone the Bitcoin ETF filed by the CBOE as they have already postponed several others to September 21st.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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