Predicting the price of anything in the market is a difficult thing, even for hardened investors and stock veteran. Despite this, experts are trying to predict movements of the market since its beginnings, some predicting high prices and some talking about fatal drops. This Time, Rand Neuner, CNBC’s host for Cryptotrader is predicting a good bullish market for crypto via his Twitter account.
Without no such thing as shame, Rand Neuner declares that the market is clearly pointing in the direction of a good bull run and that he has bought cryptocurrency even for his parents because the market is going to explode. He has always been bullish towards bitcoin, but this is a bigger reaction and statements than the usual.
And then he went and explained his reasons about the subject: he believes that the upcoming review of the ETFs by the SEC will legalize and approve at least some of the proposed ETF’s. So he argues his vision with this possible success that is going to have place in the next weeks.
The legalization and regularization of cryptocurrency futures led the market to a spectacular price hike of more than 300% last year, and Rand says that the Bitcoin ETF are so much more big than that announcement, because it requires actually buying ccryptocurrencies.
Also, the market has been quite quiet this past week, with a lot of good news like Yale investing into cryptocurrencies and also Gemini, the exchange, having secured a stable insurance partner for possible hacks in the future. For him, this means that the market is just waiting for the right combination of factors to also rise.
Most of the cryptocurrency investors were frightened earlier this year and got out the market early when prices dropped more than 70% to very low levels, but it seems that this kind of future developmnet could bring back the profitability of bitcoin as an investment tool. We will see how the market performs in the comimg days and how the answer that the SEC gives about it will affect the market.