itcoin is going to $14,000, bulls say. That’s the tamest call. Tim Draper thinks it goes to $200,000 by 2022. Others in the market, like Forbes columnist and London’s ThinkMarkets strategist Naeem Aslam, think $50,000 by December is doable.
They mostly say it is because of news of exchange-traded funds getting closer to getting greenlit by the Securities & Exchange Commission. They also cite market-friendly regulations that make real-money investors think the top cryptos can be traded with investor protections, no different than gold futures and forex. Those regulations give investment advisors with fiduciary responsibility to a client an impetus to put money to work in crypto.
Once Bitcoin is regulated as a security, when institutional investors follow in the footsteps of high-net-worth individuals and hedge funds already in crypto, then this market goes to the moon.
To put it in cryptocurrency cult vernacular: “when moon?” Soon as Harvard and the Ford foundation decide that a quarter-percent allocation to Bitcoin and other top 10 coins is plausible, that’s when.
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