Bitcoin futures contracts have garnered immense popularity in the crypto-verse. Amidst the buzz that is surrounding BTC futures, Heath Tarbert, CTFC’s chairman revealed that Ether futures contracts are most likely to be seen sometime during the next year. However, he also pointed out that a product as such hasn’t been initiated by any company so far.
Speaking at the DC Fintech Week on 21 October, Tarbert suggested that Ether futures contract would appear in the market within the next six to twelve months while highlighting the uncertainty of the volumes that it would trade in. He said,
“I’d say it is likely that you would see a futures contrast in the next six months to a year. Now that we’ve provided at least a little bit more clarity on Ether’s eligibility for futures contracts, my guess is market participants will consider that.”
The chairman also stressed on the pricing of the Ether futures and said that traders would be encouraged with the help of a CTFC regulated exchange. Tarbert revealed that other cryptocurrencies do stand a chance in the same, however, he couldn’t affirm that it would be landing anytime soon. He said,
“Even the two that we thought about – bitcoin and ether – took us quite some time to work through.”
Bitcoin can reach $25K if usage crosses 1M people: Thomas Lee
Managing Partner and Head of Research at Fundstrat Global Advisors, Tom Lee, recently made an appearance on CNBC‘s ‘Street Signs Asia‘ segment to talk about Bitcoin price movements in the future. Lee also spoke about why he thinks Bitcoin will touch $25K by 2022.
According to Lee, for an industry that’s over a decade old, these are still early days for digital assets. However, as time passes, it will become very institutional, he said. Fundstrat’s Lee added,
“Over time, it’s going to become an asset class, and once we hit that it’s actually another hockey stick.”
When asked about his prediction for the king coin’s price, Lee said that it had been established back in 2017 as a five-year prediction. According to him, the predicted goal would be easy to achieve due to cryptocurrencies being network value assets — the more people that hold it, the greater its value.
“In fact, it’s a log function, so if you double the users you get a quadrupling of value, and to go to $25,000 you essentially need a 4x rise (a little bit less than that) which means you need to double the number of people who hold Bitcoin.”
According to Lee’s estimates, there are under half a million people in the world who own and use Bitcoin widely today. He also compared Bitcoin to Internet stocks such as FAANG and attributed 70% of their returns since the IPOs to the growth of the Internet over that period of time.
“So in other words, it was a log function of the Internet growth, and that’s how cryptocurrencies are going to work. That’s just saying if you take it to a million users, you could get to $25,000.”