Bitcoin will it go higher or fall Lower ,ETF, CME futures, Bitmex

Intro

Bitcoin is trading at the mark of 8200$ price and is the king of the crypto with dominance in the coinmarketcap. Bitcoin surged with more than 40% mark last month and more than other cryptocurrencies like ethereum recovered less than 15% and ripple 16%and bitcoincash hindered hard and many other failed to consolidate the gains and fall hard. As such blockchain venture capitalist suggests that it may go higher or fall rapidly. As the bitcoin have been traded strongly and had gains over the last week with price surging to 8300$. With its ATH of 19783.21$ now the market watchers are waiting for the new jump or decline.

Question in the mind of invester : ETF approval or not ?

The questions which come in the mind of the traders as the SEC approval is still pending on the line are like will it go higher or will it go lower. As such SEC is regulated cryptocurency are on the way and we saw such a spike in the bitcoin price so you can imagine what type of surge will it be after ETF. But still question rises will ETF be postponed or will it be possible this year.

Why bitcoin price may spike higher

The bitcoin is kind of tinderbox right now it is waiting for the reasons to go higher.

price surging catalysts

As such any catalysts could send bitcoin to its peak and exploding to new heights. These catalysts could soon be reality in the coming future.

These catalysts include :

1: Global trade tensions

2: The possibility of bitcoin ETF

3: Rising currency rates like in Venezuela and Iran and many more countries.

4: MasterCard recent announcement of new patent
which will allow bitcoin transactions on credit cards

5: institutional money to come in bitcoin and other cryptos.

It may surge with these catalysts and awareness in the field of crypto through many modes to investors.

conclusion

As in May when it was falling it was still worth buying as said by blockchain venture capitalist as the banks and large institutions started accepting bitcoin and long term investors got on board.

I think bitcoin before going to 10000$ it will fall from the 8200$ to 7000-1500$ mark and then it will reach the 10000$ mark. I would always like to see bitcoin reaching its ATH.

Chart shows the ATH of bitcoin.

On the other side the price surge of bitcoin have a boost to the bitcoin community and bitcoin showed that it is not ready to be dethrone from its dominance soon.

More news is from Bitmex CEO that the bitcoin shattered all the records in the history with daily turnover of 1 million$ .

CME futures contract will also play a role in bitcoin price movement

CME futures contract also expires on the 27 July this is also the reason the bitcoin price is waiting for the movement. It will be interesting to see where the price of bitcoin will go after it will it be higher or lower.

So what does these values says it is the hint for the bitcoin price to move higher.

My views

My opinion suggests that these catalysts will make it higher and lower but in the coming future we will see that these catalysts will not be necessary as such the pace of bitcoin will reach much higher and higher in the coming years. If US SEC will not approve the ETF the bitcoin dominance will go somewhere else it's just matter of time. When people will get to know about it and will invest in it. There will be lot more options made with the growing number of new projects on blockchain. We are the early adopters of the crypto world. We will revolutionise the world with blockchain and bitcoin.

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