The last two weeks have been great for Bitcoin. After it took a hit that saw its value fall to around $6000, the cryptocurrency is doing great and its value is beginning to appreciate. Recent price gains of more than 20% brought its fortunes and market capitalization to an impressive $141 billion.

Experts are crediting the improved regulation from other countries as the main reason for the impressive bull run. The growth comes a few days after the EU aired its concerns regarding the reliability of the cryptocurrencies. People are anticipating that the next price boost could happen as soon as next month. When this happens, we might be trading the digital currency at $10,000 a piece.

SolidX and VanEck filed a request to the US Securities Exchange and Commission inquiring about the possibilities of having a Bitcoin exchange-traded fund (ETF), this year. The commission is considering this option, and if they approve it, it would have a massive effect on Bitcoin prices.

Remember Gold?

The last time such a platform received approval was when there was an introduction of the gold ETF. Back then, its value increased by 300%. If Bitcoin would be lucky to experience similar levels of value increase, it would be trading over $22,000 per coin.

However, last year the same proposition by the Winklevoss twins was not successful as the currency was volatile. Experts are hoping that this time around, things will be a little different. There has been a major improvement in the volatility of Bitcoin compared to last year. Additionally, interests from well-known financial institutions are helping to stabilize it further.

By August 15th, 2018, the Bitcoin ETF may receive approval since there are some positive comments from the parties submitting the request to the SEC. Most of the comments said that it would be in the interest of the US if it needed to stay at the front-line regarding cryptocurrencies and blockchain technology.

There are fears that the US could be overtaken as a country that hosts a huge number of financial technology companies if it doesn’t check its regulation. Countries in Asia are waiting to take over in case America delays on its decisions. There is a party concerned that the approval of a Bitcoin ETF could lead to price manipulation. Regardless of what people think, Bitcoin could experience its highest growth in value in the coming months.