Embraced by World’s Giant Exchanges, Bitcoin to Skyrocket in 2018

post image

The biggest cryptocurrency in the world, despite the correction at the end of December 2017, has all the chances to skyrocket in the following year. Such expectations have been expressed by several experts in the field. Interestingly, bitcoin may surge thanks to the acceptance by leading service providers and financial establishments all over the globe.

Bitcoin Adoption by Major Financial Players

Bitcoin exchange-traded funds (ETFs) and crypto exchanges are expected to debut on several financial institutions by early 2018. Among them are the most prominent U.S. options exchange Chicago Board Options Exchange (Cboe), the US-based world's most extensive stock exchange by market capitalization New York Stock Exchange (NYSE), and the American multinational finance company Goldman Sachs, as NewsBTC report. ETFs offer a more efficient and smooth channel for private investors, whereas futures are more likely to serve giants in institutional piling and retail trading.

Our top trading bots

Cboe

On December 10, Cboe successfully introduced bitcoin-based futures. Now this week, it has filed to list six biggest bitcoin ETF’s in the most massive American stock markets.

  1. First Trust Bitcoin Strategy ETF
  2. First Trust Inverse Bitcoin Strategy ETF
  3. REX Bitcoin Strategy ETF
  4. REX Short Bitcoin Strategy ETF
  5. GraniteShares Bitcoin ETF
  6. GraniteShares Short Bitcoin ETF

According to CNBC, Cboe is going to provide more analytical and approachable investment instruments for those investors who employ bitcoin in trading. As company’s spokesperson stated, such a decision was made due to the rise in demand for bitcoin on futures exchanges, referring to both Cboe and CME group, which launched futures contracts based on bitcoin on December 17.

“Given the success of the launch of our bitcoin futures, several partners are very interested in moving forward with the development of an exchange-traded product,” said the Cboe spokesperson.

NYSE

On its turn, NYSE also filed two bitcoin ETFs. The applications, named ProShares, were submitted to the US Securities and Exchange Commission (SEC).

Earlier, the owner of NYSE and some of the other most significant futures markets worldwide, Jeff Sprecher, publicly expressed his regret concerning not creating bitcoin-based futures contracts the way his rivals at CME Group Inc., Cboe Global Markets Inc., and Nasdaq Inc. had done.

“We may be stupid for not being first on that. I don’t have the answers. I wish I knew [how the investments will evolve]. I don’t know what to make of cryptocurrencies,” said Jeff Sprecher at an investor conference sponsored by Goldman Sachs Group Inc. in New York in early December.

Nevertheless, in the foreseeable future NYSE might introduce bitcoin futures trading platform on its own, following the debut of its ProShares bitcoin ETFs. The company, for sure, is taking into account the high trading volumes of the pioneers in bitcoin futures trading, CME, and Cboe.

Goldman Sachs

According to Bloomberg, Goldman Sachs Group Inc. “is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier, two of the people said. Another said it’s still trying to work out security issues as well as how it would hold, or custody, the assets.”

If Goldman Sachs indeed does it, this will position the firm to become the first big Wall Street company to make markets in cryptocurrencies.

Bitcoin’s Skyrocketing in 2018

In several interviews, credible experts, as well as billionaire investors, expressed their belief in 2018 bitcoin’s surging. In particular, a hedge fund investor Mike Novogratz, Fundstrat’s Tom Lee, and an outstanding financial analyst Max Keiser have claimed that the value of one bitcoin very probably will overcome the $40,000 margin by late 2018. Meanwhile, the total market value of all bitcoins is expected to reach a rate of $1 trillion.

Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of cryptocurrency....
Bitcoin Plunges Below $4,500 For The First Time in a Year
The most valuable cyber-coin in the world plummeted below the margin of $4,500, the lowest point since the last year’s end of September. Overall, on November...
IMF Advises Banks to Create Own Cryptos To Withstand Digital Assets
According to a reсent IMF report concerning the monetary policy in the entire world in the era of digitalization, here is a probability that one day cyber...
Tim Draper Predicts Bitcoin Will Cost Quarter of A Million In Four Years
As between April 12 and April, 13 bitcoin saw a sharp increase of over $900, it is no wonder that more BTC bulls will come out with their suggestions...
Brazilian University Sets Off a Master’s Programme in Crypto-Finance
Cryptocurrency is a phenomenon that cannot be left aside without any consideration or thorough study. Higher educational institutions, realizing how cryptos...
Bitcoin Is To Perform Worse Than Stocks – Capital Economics
More and more analysts predict that 2018 is not going to be bitcoin’s best year at all. As a group of Swiss researchers has already claimed, before the...
Bitcoin Mining is No Longer Profitable, Say Experts
It’s the sundown for BTC miners, some experts warn. As per their assessments, it is no longer lucrative to produce crypto-coins. Not As Before In particular,...
Chinese Top Official Offered to Get Blockchain Centralized
China has been known in the world of cyber assets as a country which takes a hard stance on them. Given this fact, it sounds dubious when one of the top...
Why EOS Expects Success In 2018?
The EOS Cryptocurrency is set for a productive year, solving some fundamental industry problems. According to experts, EOS can outrun many competitors this...
Cryptos & Stock Market Have Connection, Says Wells Fargo Strategist
Since last week, both crypto and the stock market had been experiencing a devastating sell-off, and both of them have stepped on a path of recovery this...
Crypto-Bubble Session To Be Held in Davos For The First Time: Concerns
This week, for the first time ever the World Economic Forum in Davos (Switzerland) is holding a session “The Crypto-Asset Bubble”. Scheduled for 17:00 GMT...
A 23-Year Old Engineer Used Bitcoin Cash to Buy a $415,000 House In U.S.
Purchasing the real estate using bitcoin or its ilks will soon stop being just a dream. For example, not long ago the trans-border property marketplace...
First Online Cinema On the Blockchain. White Rabbit Cooperates With Streaming Services
White Rabbit is a plug-in for the browser that offers a transparent and instant monetization model for publishers, investors, actors; as well as high-quality...
Bitcoin Loses Over 10% in Value as Altcoins Simultaneously Plummet Down
After the hopeful stabilization of Bitcoin since December 23, when it increased from the tragic crash of $11,833 to the well-promising $16,133, another...
Why Banks Should be Scared of Bitcoin
On December 15, Bitcoin hit a new record as it reached almost $18,000 on the Bitstamp exchange. At the same time, total market capitalization of all Bitcoins...