Analyst: SEC approval of bitcoin ETF could push bitcoin price to $3,678

Feb. 16, 2017

Bitcoin's price could jump to $3,678 if the Securities and Exchange Commission approves the Winklevoss bitcoin exchange traded fund, a decision the commission is scheduled to announce on Mar. 11, according to one analyst writing in Seeking Alpha.

Emerita Capital, which provides quantitative analysis for investment assets, recommends portfolios hold between 0.2 percent and 5 percent in bitcoin. It recommends purchasing bitcoin on an OTC spot exchange.

The company acknowledged that its views on the outlook for a bitcoin ETF are contrary to many investment and research firms. This, however, has fostered an attractive return/risk ratio for investors who take positions in the bitcoin OTC market before March.

Emerita Capital assigns a 35 percent probability for approval versus a 65 percent probability for rejection by the SEC, making the final weighted average expected price $1645.45, marking a 67.8 percent return over the current bitcoin price.

Topics: Bitcoin, Regulation

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