The Next Big Bitcoin Price Boost Could Be Just Around The Corner

July 23, 2018

 

It's been a great couple of weeks for the bitcoin price, with the world's largest cryptocurrency adding almost 20% to its value in just the last seven days and taking its market capitalisation to $128 billion.The latest bitcoin bull run has been brought on by a raft of good regulatory news from countries around the world and signals institutional money is eyeing bitcoin as a way to cut costs and make money for investors.Now the next big bitcoin price boost could come as soon as next month, potentially powering bitcoin above the $10,000 mark and beyond. The U.S. Securities and Exchange Commission (SEC) is currently weighing whether to approve a bitcoin exchange-traded fund (ETF), a request filed through the Chicago Board of Exchange (CBOE) by New York-based VanEck and blockchain platform SolidX. If approved a bitcoin ETF would mean people are be able to buy into bitcoin without having to deal with clunky exchanges that often struggle with cumbersome regulation and lack of public trust.Some are expecting a bitcoin EFT to reverse the recent bitcoin price downward trend — with the most bullish hoping it could power the bitcoin price to far above last December's near $20,000 highs. Bitcoin is up 3.17% over the past 24 hours and is currently trading at $7,683.43. It can be bought with fiat dollars, debit, or credit cards at cryptocurrency exchanges Coinbase and Changelly

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