Bitcoin price news: Trader claims THIS event in Q4 18 will be great news for Bitcoin | C…

Brian Kelly from Bitcoin trading company BKCM claimed the implementation of a new regulated exchange for cryptocurrencies could come as soon as Q4 2018, bringing forward new opportunities for Bitcoin.

Asked about whether a regulated exchange and crypto custody system are “a long way off,” Mr Kelly told CNBC: “I don’t think they’re a long way off.

“I think they are probably Q4 2018 so I think that’s coming in the next four to six months or so.

“We are in an environment where there’s lots of regulation and this is the best opportunity to get something new through. The iron is hot, it’s time to strike.”

Bitcoin traders took part in an overnight flurry of sales, with BTC losing 3.71 percent on the day, trading at $7,496.36.

The rest of the market suffered from a bearish trend too, with Ethereum losing 5.57 percent to trade at $413.1, while Ripple dropped 3.50 percent to sell for $0.4401.

Mr Kelly continued: “You have to remember, Bitcoin can move five percent on any given day so….