CCBeast Special

Ran Neu-Ner believes that Waiting Time until SEC’s decision About Bitcoin ETF may be a Booming opportunity
Editorial Team

The United States Security and Exchange Commission is characteristically delaying on issuing cryptocurrency and Blockchain decisions, causing much consternation in the community.

The next looming date for SEC’s decision is supposed to be October 26. There has been optimism recently about the decision after the SEC showed openness to the argument supporting or opposing in Bitcoin ETF proposal.

Ran Neu-Ner is a cryptocurrency expert, entrepreneur, and media personality. He founded On chain Capital, a crypto investment and advisory business and was previously the CEO and founder of The Creative Counsel, one of South Africa’s biggest advertising agencies. His show Crypto Trader is on CNBC Africa and he has an influential voice in the field.

He believes that Bitcoin is ready to skyrocket. He tweeted on October 7:

“I just bought Bitcoin for my parents. It’s too obvious that it’s about to explode…”

Later that day he added some clarity to his point with another tweet.

“Last year, around this time, BTC went from $6691 (Nov 11) to $20000 (Dec 17) in 5 weeks. This on the back of the expectation and launch of a cash settlement BTC futures contract. An ETF is a way bigger deal & requires an actual purchase of BTC.2 looming SEC decision deadlines ahead.”

According to Forbes’ interactive Bitcoin price estimator, the price of the digital asset should be climbing in the coming months and possibly even doubling by the middle of 2019.

However, many are much more pessimistic. Jake Chervinsky knows how these decisions tend to go; he is a government enforcement defense and securities litigation attorney and also tweeted on the subject.

“The deadline is for the public to submit statements of support or opposition, *not* for the SEC to finish its review (& the deadline is Nov. 5, not Oct. 26). The SEC will then review the statements & write an order. Could be a while.”