It's hard to follow all the news about Bitcoin. In my opinion the funds, capital groups, etc. that use Bitcoin in their portfolios are a big tell for expectations. What will really take this over the top is the Bitcoin ETF. The CBOE ETF will address all of the concerns the SEC has brought up. It will be hard to continue denying ETF's when this was released after last weeks denial.... Almost immediately after the release of the SEC’s statement, SEC commissioner Hester Peirce expressed her disappointment with the decision of the agency to reject the bitcoin ETF filed by the Winklevoss twins, noting that Bitcoin, as an asset, is regulated and matured enough to be worthy of US markets.
I'm thinking $62,000 is reachable if the ETF happens on Sept. 21st and either way I believe $500k will happen in 2020.
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Nice comment. Yes I believe that an ETF is likely at some point as well. If not the VanEck one, it will be another one soon. The momentum plus the FOMO and prices could get pretty high.