The chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, spoke about what needs to be done in the cryptocurrency industry before approving applications for a Bitcoin ETF.
According to Clayton, the industry is in dire need of high-end custodial solutions that would be approved by US regulators. In addition, you must ensure that there is no market manipulation.
Bitcoin analyst Oliver Isaacs expressed the opinion that the first cryptocurrency rate would reach $ 25,000 by the end of 2019.
"There are multiple drivers behind the recent resurgence. There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the U.S. and China has led to the sudden interest in bitcoin as a hedge on investments," Isaacs said.
May was very successful for the first cryptocurrency - the Bitcoin rate rose by 60%, however, Bloomberg analysts believe that the correction observed in recent days not ended.
According to analysts, GTI Vera Convergence-Divergence indicator, which tracks positive and negative trends, points to a continuation of the fall. For the first time since April, the indicator issued a signal to sell the first cryptocurrency.
Delphi Digital analysts said that in 2019, Bitcoin is the most profitable asset - in May of this year, the rate of the first cryptocurrency increased by 60%.
"The acceleration in BTC's performance comes at a time when conventional risk assets, notably global equity markets, continue to see selling pressure […]," analysts emphasized.
The largest cryptocurrency exchange Binance has transferred Bitcoins worth $ 1.26 billion from one wallet to another. The amount of commissions was only $ 124.6.
Billionaire investor and founder of the cryptocurrency bank of Galaxy Digital Mike Novogratz is confident that the price of Bitcoin is consolidating in the range from $ 7,000 to $ 10,000.
Founder of the Ikigai cryptocurrency hedge fund Travis Kling believes that a small group of wealthy traders can push the Bitcoin rate to new heights.
Kling based on data from its own analysis and information from other institutional investors. In his opinion, there is a small group of "risky whales", which caused the recent take-off of the first cryptocurrency course.
Co-founder and CEO of Kenetic Capital, Jehan Chu expressed the opinion that the rate of the first cryptocurrency by the end of this year will exceed $ 30,000.
Chu made a statement in an interview with Bloomberg. According to the head of Kenetic Capital, one of the main factors for the growth of Bitcoin will be the launch of the Fidelity and Bakkt platforms, the emergence of Facebook's own cryptocurrency. In addition, the recent unsuccessful share offerings conducted by Uber and Lift may attract investors to "new technology companies."
The head of the cryptocurrency investment company Morgan Creek Capital, Mark Yusko said that Bitcoin is "a great asset" that should be in the portfolio of every competent investor.
Yusko also stressed that in 10 years, Bitcoin significantly outperformed any funds based on traditional assets.
A cryptocurrency trader, Anthony Grisanti, who works on the New York Mercantile Exchange (NYMEX), predicted a Bitcoin exchange rate to reach $ 7,000 and the subsequent consolidation of markets.
Anthony Grisanti made his assumptions on the Trade Alert program on CNBC. According to a professional trader, in the near future, the rate of the first cryptocurrency will fall to the level of $ 7,000.
