There are more and more reports in the media that there will soon be a large price increase for Bitcoin. Experts expect a price of $ 25,000 or higher by the end of the year. In this post we show you what the possible cause is.
Bitcoin ETF
As explained in the previous blog post Bitcoin: developments and risks (2018) a Bitcoin ETF can ensure that large institutional investors can also invest in Bitcoin. If that happens, the demand for Bitcoin will increase sharply and the price will rise as a result.
Recently, a new application was made to the SEC for a Bitcoin ETF by a very large and well-known player in the financial market, the Chicago Board Options Exchange (CBOE). The CBOE is the largest US stock exchange for options. The CBOE has also been one of the first to successfully set up a Bitcoin futures market. It is expected that the SEC will decide on 10 August 2018 whether the Bitcoin ETF will be approved.
The following video (English) explains why there is a good chance that the Bitcoin ETF will be approved by the SEC.
Lightning network
The Lightning network is a new protocol layer on top of Bitcoin that makes it possible to perform millions of transactions per second in the Bitcoin network at very low costs. Lightning payments have the potential to eventually replace all credit card payments and bank transactions because it is faster and cheaper, the potential is VERY large. This suddenly results in a new business case for Bitcoin (resulting in a HUGE price increase).
There are currently 4 implementations built by different groups (
