Cryptocurrency
The Options Market Thinks Bitcoin Has a 9% Chance of Hitting $20,000 by EOY
As reported at NewsBTC, “Bitcoin’s price incurred some soaring momentum today that allowed it to rally as high as $10,900 before facing some insurmountable selling pressure. “The cryptocurrency is now consolidating as buyers attempt to garner greater support. “It does appear to be a growing possibility that buyers send BTC into the $11,000 region in […]
As reported at NewsBTC, “Bitcoin’s price incurred some soaring momentum today that allowed it to rally as high as $10,900 before facing some insurmountable selling pressure.
“The cryptocurrency is now consolidating as buyers attempt to garner greater support.
“It does appear to be a growing possibility that buyers send BTC into the $11,000 region in the near-term, as this latest movement marked a notable breakout.
“Despite the strength that the benchmark cryptocurrency is currently flashing, it is important to note that one fragment of the market is not convinced that this will be enough to propel BTC up towards its all-time highs of $20,000.
“According to data, the BTC options market is only pricing in a 9% chance that it will be trading at $20,000 or higher by the end of the year.
“These odds are rather low considering Bitcoin’s technical strength, as analysts are now noting that there’s a decent chance that this move marks the start of something much larger…”