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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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