Bitcoin price is “about to explode” according to analyst
Ran Neuner, the presenter of CNBC’s “Crypto Trader”, commented recently on Crypto forecast. According to him, the price of Bitcoin is “about to explode.”
His enthusiasm is fueled in part by the possibility that the Securities and Exchange Commission (SEC) – the US Financial Market Constable – will soon approve the first Bitcoin ETF (Exchange-traded fund). This would allow savers to easily bet on the BTC through traditional investment envelopes.
Crypto forecast ETFs: “far more important” than futures contracts
Ran Neuner, who is also CEO of the crypto-investment company Onchain Capital, recalled on Twitter that at about the same time last year, the BTC had flamed following statements that contracts term would soon be launched.
For the investor, the arrival of an ETF should have an even greater impact on the price of Bitcoin.
Last year, around the same time, Bitcoin went from $6,691 (November) to $20,000 (December) in the space of 5 weeks. This increase was related to the prospect and launch of a cash-settled forward contract. For crypto forecast, the arrival of an ETF would be a much bigger event. And it requires a real purchase of BTC. Two impending SEC (Secuity Exchange Commission) decisions are expected. ”
However, there is a lot of excitement, since the crypto sphere is still a nascent sector, and many factors are likely to affect the price of the first digital currency.
Especially since the analyst predicted last February that the BTC would reach $ 50,000 by the end of the year. Crypto forecast. Given the current market conditions, it is hard to believe that this omen – which would correspond to a price multiplied by 7.6 in less than 3 months – is always realistic.
For some experts, an ETF on Bitcoin is likely to be approved by the SEC early next year.
Last July, the federal institution rejected the Winklevoss brothers’ second request to launch such a financial instrument, prompting the fall of the BTC’s course.
Crypto forecast: Institutional investors: an “inevitable” entry?
Bitcoin Yale University, with an endowment fund of nearly $ 30 billion, recently invested in a venture capital fund specializing in the crypto sphere. The institution thus becomes the first university to bet on digital assets. It would, according to some observers, show that institutional investors are on the verge of turning to cryptocurrencies.
Ari Paul is Investment Manager of the crypto-corporation BlockTower Capital. He commented recently that it was “inevitable” that many wealthy universities will invest in digital assets as early as this year. “Even if they do not believe in cryptocurrencies as an asset class, they are smart enough to identify this profit opportunity,” he added as crypt forecast.
The former portfolio manager of the University of Chicago revealed that several pension funds and university endowment funds would have started to be interested in crypto-investment since 2015. Crypto forecast, “Endowments can pull the trigger at any time. They are ready!”
Crypto forecast, a few days ago. In the latest episode of his “Bitcoin Value Indicator”, trader Hans Hauge said that the fundamentals of the first cryptocurrencies contrast with the decline in its price. This leads him to think that the BTC would be close to a low, and that it should soon return to the rise.
The analyst Willy Woo doesn’t share this optimism. Indeed he estimates we need to wait several months before witnessing a decline in the “Network Value to Transactions Ratio”. An indicator that would detect the emergence of a new uptrend for Bitcoin.
Ethereum, crypto forecast: Tom Lee predicts imminent “flare-up” for Ether
Analyst Tom Lee expects an “upward spiral” of Ether, Ethereum’s native currency. As crypto forecast, he believes that the sharp drop in its share price since the beginning of the year is linked to a lack of confidence in the network’s roadmap, the emergence of several competitors and a wave of “panic sales”.
“A reversal of trend” on the horizon
After difficult months, the Ether should soon return to rising. In any case, that seems to be the convictions of Tom Lee regarding crypto forecast. This the senior partner of the research firm Fundstrat Global Advisors.
In a note sent recently to his clients, this expert explains that Ethereum is about to experience a reversal of the trend and record an upward spiral. He recalls that the last four times that the ETH has underperformed the other cryptocurrencies by two standard deviations, it was possible to witness a “major reversal of trend”.
For Lee, the Ether would thus be in a phase of “capitulation”. It would suggest a rise in the coming weeks.
Recalling that the second digital asset in terms of “Market Cap” has lost nearly 85% of its value. This since it’s record record high at over $1400 dollars last January.
EOS, roadmap and ICOs
The analyst explains the decline by mentioning a massive sale initiated by EOS. It raised Ethers before launching its “mainnet”. Mr. Lee also mentions some questions surrounding the roadmap of his blockchain technology. As well as a wave of “panic sales” initiated by startups who have raised many ETHs through their ICOs.
But it remains unclear whether Mr. Lee is still as optimistic as last January. Crypto forecast: He had predicted, a few days after the historic record recorded by the Ether. The exchange should be at $ 1,900 by the end of the year.