Bitcoin prices are set to skyrocket in the near future considering the SEC are due to make a decision on the cryptocurrencies. Represented by three ETFs launched by the Winklesvoss twins, the success depends on nearly a year of work culminating in potential recognition by the SEC.
Currently the three funds are doing extremely healthily in the market increasing in popularity as trading volume has slowly picked up reflecting a fall in premiums as regular trade leads to a better supply of the coin. Analysts such as Emiritia capital predict rises to $1645 while other estimate the $3000 mark will be reached if $2 billion is invested via the newly approved ETFs.
To conclude Bitcoins future looks positive as stability is at an all time high. China’s strangle hold on the coin is slowly being weakened as cryptocurrencies is adopted by various other countries such as Nigeria and the USA. Where markets used to be controlled by Chinese pumping and dumping activities, are now stable at the $1000 mark amid trading from the region slowing down a bit. Chinese projects concerning the coin have successfully been completed but actual implications remain unpredictable. The BTCC exchange has also frozen withdrawals on its Chinese exchange which has caused a further slowdown in trading activity.
The SEC seems to be the killer app for the currency currently, as possible success could have far reaching implications, vastly accelerating Bitcoins potential as a investment asset as its legitimacy will be confirmed to the general public while misconceptions do exist limiting the potential of the future of currency. You can purchase Bitcoin via the NairaEX exchange at a premium rate and have it delivered to your address within a matter of hours!