Hayes: A Positive Regulatory Etf Will Push Bitcoin to $50,000 in 2018

[BADecker]

Hayes: A Positive Regulatory Etf Will Push Bitcoin to $50,000 in 2018

Hayes made his prediction while speaking on the CNBC Fast Money show on June 29 2018. This prediction has been described as a "SuperBowlish Forecast".

One step away

According to Hayes, the cryptocurrency is just one positive regulatory decision away from climbing through $20,000 on its way to $50,000 by the end of the year.

Considering the slump in price that Bitcoin has experienced for most part of 2018, Hayes remains bullish, noting such as a normal correction.

"I think that something that goes up to $20,000 in one year can have a correction down to $6,000 and will definitely find a bottom at about $3,000 and $5,000 range", says Hayes.

This insinuation definitely upholds the opinions of most long term investors who have continued to HODL, seeing every deep as an opportunity to buy more Bitcoins into their portfolios.

Read more at https://www.ccn.com/hayes-a-positive-regulatory-etf-will-push-bitcoin-to-50000-in-2018/.

[silviyako]

I regulation will actually do bitcoin some good only in terms of its stability. But having it regulated would defy the purpose of its existence, decentrlization. that's only my opinion of course

[GreatTHINKER]

I'm very positive about this. I hope the will exceed $50k very soon. And its very positive.

[juliehunt07]

Crypto currency has always been decentralized, this has given the users a leverage on the government. Placing regulation on it will slow down the activity of crypto currency. this will damage the market of crypto currency, decreasing the prices of every crypto currencies. But then again as the transaction of crypto currencies are nit monitored by government illegal activities can take place.

[creeps]

ETF can really be a big thing in cryptoworld and I hope to hear some good news about this.
Its possible for bitcoin to make new all time high considering the volume of being traded even the market is dump, and a lot of big investors enter the market.

I'm very positive about this. I hope the will exceed $50k very soon. And its very positive.

Let's keep on believing this market is not on its best position yet, we will still fly higher this year.

[sindikat]

Crypto currency has always been decentralized, this has given the users a leverage on the government. Placing regulation on it will slow down the activity of crypto currency. this will damage the market of crypto currency, decreasing the prices of every crypto currencies. But then again as the transaction of crypto currencies are nit monitored by government illegal activities can take place.

It seems to me that you have not noticed how the entire cryptocurrency market is regulated. The initiative came from the state but the exchanges agreed to take over the traditional functions of banks. Now they require documents for KYC and can freeze any accounts. This is the real regulation. Maybe for this reason bitcoin is losing its popularity?

[dothebeats]

Another parabolic increase after a few months of accumulation and blow-off? Improbable, no matter how good the ETF is, but possible to make the similar climbs back to $15-$20k. With the current market conditions, it isn's possible for the price to climb such heights without some solid preparations from the market movers. Aside from that, where would the rest of the money come from and who would buy at such lucrative prices? Regulatory ETFs are big market events, though without any complementing factors it will not be enough to carry the market at such heights.

[Tankdestroyer]

It seems to me that you have not noticed how the entire cryptocurrency market is regulated. This is the real regulation. Maybe for this reason bitcoin is losing its popularity?

Probably not. IMO bitcoin is not losing popularity at all. It's just that those who have bought at all time high bought bitcoin merely out of pure greed and are selling their bitcoins on low prices now because they easily believed analysts and have been driven by FUD and FOMO.

Another parabolic increase after a few months of accumulation and blow-off? Improbable, no matter how good the ETF is, but possible to make the similar climbs back to $15-$20k.

I do think that it is possible because of possible unforeseen good news in the next coming months but the chance of it happening is below 1% and if it did reach $50,000 by the end of 2018, I expect a massive sell-off afterward.

[tomahawk9]

The ETF could definitely push the price up as investors will feel more confident to invest in btc, with institutional money flowing in into the cryptosphere then there's a high chance we could see the last ATH. If FOMO kicks in on a major scale then we could go past the last ATH...but towards 50k? unless we can see a shift in the market sentiment from bearish to bullish months before the ETF approval (or rejection, you never know), then I don't think we're gonna see such price target. IMO if we want to see 50k, we're gonna need to be in a bullish trend prior to the ETF event so that there's enough momentum to continue the massive upward movement.

[LFC_Bitcoin]

How likely is an ETF approval?

The other times it’s been attempted they’ve declined it. Why would this attempt be any different?

[BrewMaster]

i think the media is making this  ETF news bigger than it is and the funny thing is that the market is not even responding to all the hype that has been circulating in the news!
if you remember last year that we had a couple of news like this each time there was the same hype but there was also a big rise with each of them.... now there is nothing!

and $20k?!! not going to happen. as i said they are hyping ETF more than it is capable of.
anyways i am also interested in knowing why they think this time it is different than other times ETFs were rejected?

[MilfordGannon]

Having regulations is indeed a good thing. But sometimes, these sort of things leads to a decentralized view of the system. But given the situation of the market today and the condition it is in, the people in the crypto currency market does in fact need it to bring in some stability.

[dellmoon]

That's a great prediction. If this really comes true, then it would bring significant changes in the market. Hope this Super-bowlish prediction comes true.

[Maveth13]

Crypto currency has always been decentralized, this has given the users a leverage on the government. Placing regulation on it will slow down the activity of crypto currency. this will damage the market of crypto currency, decreasing the prices of every crypto currencies. But then again as the transaction of crypto currencies are nit monitored by government illegal activities can take place.

It seems to me that you have not noticed how the entire cryptocurrency market is regulated. The initiative came from the state but the exchanges agreed to take over the traditional functions of banks. Now they require documents for KYC and can freeze any accounts. This is the real regulation. Maybe for this reason bitcoin is losing its popularity?

It's very unlikely that it's because of regulation. I think it's just because there's alot of other coins, meaning more choices, that actually yields more profit. In my opinion, these regulations actually help making people trust cryptocurrencies or trading.

[exstasie]

How likely is an ETF approval?

The other times it’s been attempted they’ve declined it. Why would this attempt be any different?

It took a couple years/tries before we got a copper ETF. I'd expect double or triple that for Bitcoin, if not more. I'm sure it'll happen, but perhaps not on the timeline that many hope for.

The whole idea of an ETF for a P2P currency is pretty silly if you think about it. And I don't think it's nearly as important as bitcoin-settled contracts on regulated platforms. Delivery in bitcoin means institutions might actually use contracts to accumulate long-term positions in the spot market.

I guess it'd be cool to stick ETF shares into my retirement account, though.

[BitcoinNewbie15]

i think the media is making this  ETF news bigger than it is and the funny thing is that the market is not even responding to all the hype that has been circulating in the news!
if you remember last year that we had a couple of news like this each time there was the same hype but there was also a big rise with each of them.... now there is nothing!

and $20k?!! not going to happen. as i said they are hyping ETF more than it is capable of.
anyways i am also interested in knowing why they think this time it is different than other times ETFs were rejected?

There have been no official ETFs yet. Once there is an ETF that is launched this will significantly increase the legitimacy of the cryptocurrency space. This will open doors for huge institutional investors to easily diversify into Bitcoin. This will be a huge step in the right direction for Bitcoins adoption and I agree with the article that OP posted. This will be the driving factor in the next Bitcoin bubble. Will likely generate enough fuel for Bitcoin to hit a $50k price point, maybe even much higher than that.

[ocid]

the bitcoin price movement since 2018 has always drastically decreased in price, but this is certainly a normal market price correction. to reach $ 50k by the end of the year is of course almost impossible because until the middle of this year bitcoin prices have not been able to raise the price up to $ 15k. many people make the decision to hold bitcoin for long periods of time even with the fall in market prices so far many are taking the chance by buying more bitcoins at lower prices.

[exstasie]

There have been no official ETFs yet. Once there is an ETF that is launched this will significantly increase the legitimacy of the cryptocurrency space.

Will it, though? Did the first copper ETF some years back increase the legitimacy of copper?

Sure, an ETF could move things along, but the trajectory is already set. The cat came out the bag with the launch of regulated futures markets.

This will be a huge step in the right direction for Bitcoins adoption and I agree with the article that OP posted. This will be the driving factor in the next Bitcoin bubble. Will likely generate enough fuel for Bitcoin to hit a $50k price point, maybe even much higher than that.

Unless it's approved/launched near the top of a bubble (like CME futures). So it depends when it happens. Also, people buying ETF shares are not buying the underlying assets, which are already held in trust (if an ETF is trading). Sure, institutional investors can get exposure to Bitcoin that way, but once the trust is locked up, there's no effect on spot market supply. ETFs just track the underlying asset.

[bedulook]

Are you joking, a price from 6500 usd to 50,000 in just 6 months left for the year to come an end. No ,I don't even think bitcoins at this stage can cross a price of even 20,000 on January 2019.

[robertcross07]

We all know that BTC market is a volatile market if the price can go down by 57% why then it cannot be go up by 500%. There is no certainty that BTC would have such value around this year but there is huge possibility of gaing such value during this year. Considering this, I completely agree with the statement of the Founder of BTC Exchange, Hayes.