Shane Chanel, equities and derivatives adviser at ASR Wealth, said $US10,000 was “just another milestone” and there was still the possibility of it going much higher, particularly if a planned bitcoin futures exchange by Chicago-based CME Group, which would allow investors to bet on the rise or fall of the digital currency, gets the go-ahead.
“That will really centralise it [and] be able to provide a platform where people can trade great volumes, and probably take a lot of volatility out,” he said.
“With the largest futures exchanges taking it up, other exchanges will be scared of missing out. That’s also what we’re seeing with a lot of investors and traders, FOMO is coming through.
“As long as CME does get approval, that will be a big catalyst to smash it right above $US10,000 — $US14,000 to $US15,000 seems possible by the end of next year.”
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