Currently, Bitcoin is experiencing high volatility that it maybe caused by the recent SEC impediment to create the first bitcoin ETF, or exchange traded fund.
Some people in the crypto community were confident about the U.S. Securities and exchange commission positive decision that this hope drove the price, allowing bitcoin to reach its new all time highs.
Then, the SEC announcement about its decision to reject the Winklevoss’ proposal affected the bitcoin and other digital currencies market, but - after a first drop - the greatest part of the digital currencies are currently experiencing new highs.
Right now, Ether, or the cryptocurrency that fuels the Ethereum blockchain, reached its new all time high with a price of $40 at present time.
That said, leaving aside the price-related matters, the SEC decision opened another important question: can bitcoin and other digital currencies survive without any approval by institutions? Is it true - as said by Bank of Canada - that it cannot reach a massive diffusion without any formal regulation?
Where will crypto be in the future?
Of course, I don’t have a crystal ball, but for me Bitcoin - with capital B, or the technology behind it: the blockchain - will have a prosperous future.
Its importance goes far beyond bitcoin and payment transactions as this is just one - and the most banal - of its application.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.indiabitcoin.com/what-is-the-future-of-cryptocurrency/