Crypto analyst: Obvious that bitcoin is about to explode in price

During 2017, the prices of cryptocurrencies rallied, but in 2018, the prices have declined heavily. At the beginning of January this year, the price of a bitcoin was closer to $17,000 and today it is around $6,550, according to Coinmarketcap.

Now, Ran Neuner, a crypto analyst at CNBC, has written on Twitter that he believes that bitcoin will soon explode in price. Ran Neuner says that last winter’s surge for bitcoin from $6,691 on November 11th to $20,000 on December 17th was due to launches of bitcoin futures. Bitcoin futures would allow more investors to buy bitcoin, Cointelegraph writes.

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Bought bitcoin for his parents

Ran Nenuer tells his followers on Twitter that it is soon time for SEC, the U.S. Securities and Exchange Commission, to decide if they will approve a bitcoin ETF (exchange traded fund). He writes that a bitcoin ETF is much bigger for the crypto world than last year’s launch of bitcoin futures and that it could lead to a new rally for the price of bitcoin, Cointelegraph writes.

“I just bought bitcoin for my parents. It’s too obvious that it’s about to explode”, Ran Neuner writes on Twitter.

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