CoinShares chief strategist Meltem Demirors believes the price of the cryptocurrency will soar to $100,000 by the end of 2021.
She has said there is a large amount of idle cash, so investors plan to include digital gold in their portfolios. In particular, she states:
“There’s just an absolute plethora of options that are opening up that channel for retail and professional investors to get exposure to the asset class.”
Demirors has also cited the buy on rumor and sell on fact model as one of the catalysts for price changes in the reference crypto. She has explained:
“Right now, we’re hearing rumblings around a potential Bitcoin ETF approval. That would be cashed-settled contract based ETFs.”
According to Demirors, by the end of Q4 2021 and early Q1 2022, “definite moves” in long-term options with six-digit numbers will begin.
In September, the SEC director Gary Gensler said the regulator would consider applications to launch Bitcoin ETFs if they are based on Chicago Mercantile Exchange futures and comply with the Investment Company Act of 1940.