Bitcoin has just passed it’s all time high according to Coindesks price index. The previous all time high was $1165 in November of 2013.
Currently trading at $1192 (R15,426) bitcoin has surpassed it’s previous high and it’s marketcap has almost doubled. The current market cap is $19 Billion (R245 Billion). A number of factors are responsible for this surge, notably, reports suggest that this may be linked speculation of the approval of the Winklevoss twins Bitcoin ETF.
The Securities Exchange Commission has their deadline for decision set to the 11th of March. The eagerly awaited ETF has many institutional investors waiting on the sidelines to enter the Bitcoin investment scene. once launched it is speculated that Bitcoin may grow to new heights (Some say as much as $100 Billion market cap)
What are your thoughts on the current speculation? Do you think the ETF will it be approved?