Bitcoin Price About To Explode, Says CNBC’s Ran Neuner

Ran Neuner, a cryptoanalyst and the host of CNBC’s show Cryptotrader is high on Bitcoin (BTC) bullishness. As per his recent Tweet, the foremost cryptocurrency is  “about to explode”.

On October 7, Neuner not only boasted the bullishness he even bought his parents some bitcoin. Check out the tweet below:

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

— Ran NeuNer (@cryptomanran) October 7, 2018

He followed this sentiment with another tweet that expresses his reason for the claim, he believes that upon the impending decision of the U.S. Security and Exchange Commission’s (SEC) on several Bitcoin Exchange-Traded Fund (ETF) applications, the prices of the token will soar.

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 actual purchase of BTC.2 looming SEC decision deadlines ahead.

— Ran NeuNer (@cryptomanran) October 7, 2018

The Tweet also points out that the leading cryptocurrency’s rally last year from “$6,691 (Nov 11) to $20,000 (Dec 17)” was a result of (as he puts it)  “on the back of  the expectation and launch of a cash settlement BTC futures contract.”

Last year the Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME)  were deemed eligible for launching a bitcoin future by the U.S. Commodity Futures Trading Commission (CFTC). Subsequently, on December 11, CBOE launched its first Bitcoin futures, while CME was not far behind and launched it on December 17; coincidentally the day Bitcoin has hit its historic high of $20,000.

Neuner was quick to make a parallel comparison between Bitcoin futures and the much-anticipated decision of SEC to approve the first Bitcoin ETFs. After all the regulator is reviewing its decision of rejecting 9 Bitcoin ETFs. The cryptoanalyst claims that bitcoin ETF is a “way bigger deal” that bitcoin futures as it  “requires the actual purchase of BTC.”

Sharing the same sentiment as Neuner, many believe that Bitcoin ETF will enable bitcoin to reach a wider spectrum of mainstream investors, who wouldn’t have directly invested in the token.