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Bitcoin Prices Could Soar by 500% if ETF is Approved, According to Major Study

A study by TotalCrypto.io of the impending Bitcoin ETF indicates some astonishing findings. If the impact ETFs had on gold are anything to go by, a 500% price increase in Bitcoin within 300 days of the ETF launching is quite realistic.


News provided by

TotalCrypto.io

Jul 26, 2018, 11:00 ET

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LONDON, July 26, 2018 /PRNewswire-PRWeb/ -- Tom Alford, an independent trader and cryptocurrency expert, has conducted a detailed study on the market impact of a Bitcoin ETF, which could be approved this year.

The study indicates some astonishing findings, including analysts opinion that we could see a 500% price increase, as was the case when gold ETFs were introduced.

29% of millionaire's have expressed a high interest in cryptocurrency investment

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The full study is published on TotalCrypto: https://totalcrypto.io/bitcoin-etf-analysis/

The SEC will decide on approval for a Bitcoin exchange-traded fund (ETF) as early as August 16th. The proposal from CBOE Global Markets is widely agreed as the one most likely to succeed.

If the move goes ahead as expected, the market could be in for a dramatic price-soaring bull run.

According to Alford, we could see a striking, global shift in the way Bitcoin is perceived and priced.

"It's a no brainer that the market will move upwards dramatically if a Bitcoin ETF is approved," Alford comments. "A SEC approved fund provides huge credibility for safe investment, in a market where both fund managers and wealthy individuals are reluctant to invest due to safety concerns."

The ETF may provide the perfect vehicle for institutional investment. Certainly the demand is already there.

Alford argues that high net-worth individuals want to invest, but presently face barriers to entry - "29% of millionaire's have expressed a high interest in cryptocurrency investment, with a further 27% expressing a general interest in digital assets. Financial giants such as JP Morgan (with trillions in client funds) acknowledge the fact that their clients want to invest in cryptocurrency."

"The only thing missing is a safe method of doing so, which an SEC approved ETF would provide. We're seeing Bitcoin price predictions of up to $50k by the end of 2018 - I believe ETF approval is the only catalyst that could vindicate this price and make it a reality."

This isn't the first time in history we've seen a bull-run for a finite asset. In 2003 the first Gold ETF was launched, sparking an 8-year bull run that saw Gold prices soar by 478% to an all-time high in 2011. Before Gold ETF's launched, prices moved very slowly for 30 years prior.

"If the impact ETFs have on gold are anything to go by, a 500% price increase within 300 days of the ETF launching is quite realistic. This 300 day window has been calculated after studying the market cycles of both gold and Bitcoin", concludes Alford.

----
For more information please email: [email protected]

SOURCE TotalCrypto.io

Related Links

https://totalcrypto.io

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