Sign In  |  Register  |  About Pleasanton  |  Contact Us

Pleasanton, CA
September 01, 2020 1:32pm
7-Day Forecast | Traffic
  • Search Hotels in Pleasanton

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

ETC Group's Bradley Duke discusses bitcoin trends and new ETP launch

--News Direct--

ETC Group founder and chief strategy officer Bradley Duke discusses recent trends in Bitcoin's market performance and future expectations with Proactive's Stephen Gunnion.

He noted Bitcoin's peak prices above $72,000 in March and April, attributing these to the SEC approval of spot Bitcoin ETFs in the US. Duke described the subsequent price retracement to below $60,000 as a normal aspect of market cycles, involving profit-taking and no cause for panic.

Regarding the Bitcoin halving event, Duke explained that while immediate effects on Bitcoin prices are minimal, historical data shows significant price movements tend to occur around 100 days post-halving, with the most pronounced effects about 400 days later. He linked these movements to reduced mining rewards, which gradually impact supply and, by extension, prices.

Additionally, Duke shared ETC Group's projection that Bitcoin could reach or surpass $100,000 by the end of 2024, which is conservative compared to some investment bank forecasts.

He also highlighted the launch of the ETC Group Core Bitcoin ETP (BTC1), designed to enhance liquidity by aligning with trading times across North America, Europe, and Asia Pacific.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/etc-groups-bradley-duke-discusses-bitcoin-trends-and-new-etp-launch-204250980

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photography by Christophe Tomatis
Copyright © 2010-2020 Pleasanton.com & California Media Partners, LLC. All rights reserved.