Bitcoin experts await price hopes in early November: that's why

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Close up of the hologram on the back of a physical bitcoin wallet card. This specific bitcoin wallet is issued by the Zurich Money Museum and can be used to receive bitcoins from other people by showing the card's QR code.

Bitcoin's price has rebounded from $ 6,000 to over $ 8,000 in recent months, but may soon change. Many investors do not see the hour & nbsp The SEC (US Security and Exchange Commission) decision at the end of the month on the opportunity to grant approval for a fund traded with bitcoins (ETF) – something the SEC has previously refused due to concerns about bitcoin price fluctuations and price manipulation

But others look further, indicating the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), plans to launch a bitcoin ETF on November 5

In July, ICE revealed that it was launching a bitcoin and cryptocurrency platform called Bakkt in collaboration with the Starbucks coffee chain, the software giant Microsoft and the Boston Consulting Group.

An ETF will be launched under Bakkt, which & nbsp; it will also facilitate a scalable ecosystem for regulated markets and warehousing.

"Our new daily bitcoin contract will not be marginalized, leveraged or served to create a claim on a real asset," Bakkt CEO Kelly Loeffler said in a blog post. " This supports market integrity and differentiates our efforts from the current exchanges of encrypted and futures that allow margin, leverage and settlement in cash."

"I believe that [the bitcoin price] will hit $ 10,000 by the first week of November "& nbsp; Hermann Finnbj & ouml; rnsson, founder and CEO of the consulting firm for bitcoin and cryptocurrency Svandis said The Street . "I think there are many reasons to be bullish on bitcoin. [There’s] Less than a 1% chance in my mind that bitcoin will not succeed."

Michael Terpin, a member of the Alphabit fund, echoed & nbsp; the comments of Finnbj & rsson, saying: "Technology will adapt the cryptocurrency to be something you can buy on your phone."

This new wave of potential investments has given many hopes that the price of bitcoin will return to exceed its historical highs year-end when bitcoin fed almost $ 20,000 per coin.

The United States Commodity Futures Trading Commission (CFTC) must first declare the fraudulent presence of Bakkt, however – although it is widely expected to do so.

The price of bitcoin was awaiting stronger news on investment and regulation in recent months. CoinDesk

Meanwhile, the SEC is currently considering whether to approve a bitcoin ETF request forwarded through the Chicago Board of Exchange (CBOE) by VanEck and the New York-based SolidX platform blockchain. [1 9659006] However, some influential voices in the world of bitcoins and cryptocurrencies have claimed that a bitcoin ETF would be negative for long-term bitcoin.

Last month & nbsp; Andreas Antonopoulos, & nbsp; A technology entrepreneur – who became a bitcoin evangelist, warned that – even if expecting an ETF to get SEC approval – it will not be a good thing for bitcoin or the broader cryptocurrency world.

"I'm about to burst your bubble," said Antonopoulos. "I know that a lot of people really want to see an ETF happen because" moon and lambos ", but I think it's a very bad idea, I think it will happen again, I just think it's a very bad idea, I'm actually against ETFs. of Bitcoin damaging the ecosystem. "

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Close up of the hologram on the back of a physical bitcoin wallet card. This specific bitcoin wallet is issued by the Zurich Money Museum and can be used to receive bitcoins from other people by showing the card's QR code.

Bitcoin's price has rebounded from $ 6,000 to over $ 8,000 in recent months, but may soon change. Many investors do not see the hour SEC Decision (US Security and Exchange Commission) at the end of the month on the opportunity to grant approval for a bitcoin exchange fund (ETF) – something that the SEC has previously rejected due to rigu fears ardo to the bitcoin price fluctuations and price manipulation.

But others are looking further, indicating the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), plans to launch a bitcoin ETF on 5 November.

In July, ICE revealed that it was launching a bitcoin and cryptocurrency platform called Bakkt in collaboration with the Starbucks coffee chain, the Microsoft software giant and the Boston Consulting Group.

An ETF will be launched under Bakkt, which will also facilitate a scalable ecosystem for federal regulated markets and the warehouse [19659006] "Our new daily bitcoin contract will not be marginalized, leveraged or will serve to create a claim on a real asset, "said Kelly Loeffler, CEO of Bakkt in a blog post. " This supports market integrity and differentiates our efforts from current encryption and futures exchanges that allow margins, leverage and liquidity."

"I think [the bitcoin price] will hit $ 10,000 by the first week of November" Hermann Finnbjörnsson, founder and CEO of the bitcoin consulting firm and cryptocurrency Svandis, told The Street. "I think there are many reasons to be confident about bitcoin. [There’s] Less than a 1% chance in my mind that the bitcoin will not succeed."

Michael Terpin, a partner of the Alphabit fund, echoed Finnbjörnsson's comments, saying: "Technology will adapt cryptocurrency to be something you can buy on your phone."

This new wave of potential investment has given high hopes that the bitcoin price will return and exceed its historical highs at the end of last year, when bitcoin reached nearly $ 20,000 per currency.

The United States Commodity Futures Trading Commission (CFTC) must first declare the fraudulent presence of Bakkt, however – although it is widely expected to do so. [19659031] Bitcoin's price expected more reassuring news about investment and regulation in recent months CoinDesk

Meanwhile, the SEC is considering whether to approve a bitcoin ETF request forwarded by the Chicago Board of Exchange (CBOE) for VanEck a. New York nd blockchain SolidX platform.

However, some influential voices in the world of bitcoins and cryptocurrencies have claimed that a bitcoin ETF will be detrimental to long-term bitcoin.

Last month Andreas Antonopoulos, a tech entrepreneur-turned into a bitcoin evangelist, warned that – even if you expect an ETF to get SEC approval – it will not be a good thing for the bitcoin or the wider cryptocurrency world.

"I'm about to burst your bubble," said Antonopoulos. "I know that many people really want to see an ETF happen because it's the moon and lambos, but I think it's a very bad idea. I still think it will happen, I think it's a very bad idea. Actually I'm against ETFs, I think a Bitcoin ETF will damage the ecosystem. "

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