BTC Price is Expected to Surge Rapidly in 2018, Factors to Consider

Joseph Young | December 25, 2017 | 8:11 pm
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BTC Price is Expected to Surge Rapidly in 2018, Factors to Consider

Joseph Young | December 25, 2017 | 8:11 pm

Many analysts expect the bitcoin price to surge rapidly throughout 2018, in consideration of the increasing adoption of the cryptocurrency by major financial institutions, service providers, and individual investors across the world.

Cboe, NYSE, and Goldman Sachs Bitcoin ETF / Trading

By early 2018, the global finance market’s largest futures exchange, stock market, and investment banks the Chicago Board Options Exchange (Cboe), New York Stock Exchange (NYSE), and Goldman Sachs plan to introduce bitcoin exchange-traded funds (ETFs) and cryptocurrency exchanges.

This week, after demonstrating a successful launch of bitcoin futures, Cboe filed to list six major bitcoin ETFs in major US stock markets:

  1. First Trust Bitcoin Strategy ETF
  2. First Trust Inverse Bitcoin Strategy ETF
  3. REX Bitcoin Strategy ETF
  4. REX Short Bitcoin Strategy ETF
  5. GraniteShares Bitcoin ETF
  6. GraniteShares Short Bitcoin ETF

NYSE, the largest stock market in the world, also filed two bitcoin ETF applications to the US Securities and Exchange Commission (SEC) named ProShares.

Cboe spokesperson stated that the organization has come to a decision to provide more efficient and accessible investment tools for investors to utilize in trading bitcoin, given the increase in demand for bitcoin on both Cboe and CME Group futures exchanges.

“Given the success of the launch of our bitcoin futures, several partners are very interested in moving forward with the development of an exchange-traded product,” said the Cboe spokesperson.

Jeff Sprecher, the chairman of NYSE, publicly expressed his regret in not listing bitcoin futures ahead of Cboe and CME Group at an investor conference sponsored by the Goldman Sachs.

Seeing the exponential increase in the demand for cryptocurrencies by institutional, retail, and individual investors in the traditional finance market, Sprecher stated:

“We may be stupid for not being first on that… I don’t have the answers, I wish I knew… I don’t know what to make of cryptocurrencies.”

In the near future, based on the high trading volumes of the Cboe and CME bitcoin futures, NYSE will likely launch a bitcoin futures trading platform on its own, subsequent to launching its ProShares bitcoin ETFs.

Unlike futures, which are aimed for large-scale institutional investors and retail traders, ETFs provide a more efficient and seamless channel for individual investors. Earlier this year, billionaire investor Mark Cuban revealed that he has invested in bitcoin through an exchange-traded note (ETN) in the Nordic Nasdaq, a stock market based in Sweden, because it was the only regulated bitcoin investment instrument apart from Digital Currency Group’s Bitcoin Investment Trust.

“It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange,” said Cuban at the Vanity Fair New Establishment Summit in Los Angeles, as reported by LiveBitcoinNews.

Bitcoin $40,000

Billionaire investors and highly respected analysts including hedge fund investor Mike Novogratz, prominent financial analyst Max Keiser, and Fundstrat’s Tom Lee stated that the price of bitcoin will likely surpass the $40,000 margin by the end of 2018, and achieve a $1 trillion market cap.

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  • john smith

    BTC will reach $1 million each by 2020.

    • Paul Ferguson

      That is only 24 months from now

  • Leandro Harrison

    Any thoughts on the bee token? Disrupting Airbnb with blockchain. Would love for you guys to cover them.

  • Valeria Jones

    Mark Cuban – “Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights.”

    Stocks DO have an intrinsic value. Think of it like a fruit tree. If you own a fruit tree, do you have to sell it in order to profit? Of course not, you can collect the fruit!

    And if you own shares in, for instance, Wal-Mart, then you are a partial owner of a very, very profitable fruit tree. Wal-mart earned $11 BILLION last year, and paid $6 BILLION in dividends (fruit).

    This is what someone like Buffett means when they refer to a “productive asset”. On the other hand, what does a Bitcoin produce? Bitcoin is purely a speculation — the only way to profit is to sell it for more money later! There is nothing wrong with speculating, but BE CAREFUL 🙂

    • czak22

      What does $ produce? Dollar itself is produced in infinite quantities 🙂

      • Valeria Jones

        What does $ produce? Well, $ has a time-value known as an Interest Rate. Right now, the Fed has set that time-value very low — which means that $ is a lousy place to hold your wealth!

        Everybody needs $ to pay their expenses, but most global wealth isn’t in any kind of currency — it’s in the form productive assets, such as land, or ownership of companies (stocks).

        • czak22

          how much dollar/euro/yen is a reliable valuation of assets if their printing/cloning can take place forever?

  • dannypars

    More like 0 before the mid 2018. Governments don’t like losing control over their monetary policies. They will crush it down.

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