Thursday, June 1, 2023
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us
No Result
View All Result
No Result
View All Result
Home News

Here’s the probability Bitcoin hits $20,000 by year-end, according to the options market ⋆ ZyCrypto

Betty Snyder by Betty Snyder
May 20, 2020
in News
0
Kiyosaki Preaches Bitcoin, Pointing Out Hidden $425 Billion in Congress Rescue Bill
586
SHARES
3.3k
VIEWS

Advertisement
&nbsp

&nbsp
Bitcoin traders are clearly having a tough decision on whether to go long or short, Bitcoin’s price has been inert for the past 2 days and it’s bouncing back and forth between $9,464 and $9,950.

It seems that Bitcoin’s recent halving left a lot of uncertainty in the market and traders are not sure if Bitcoin is bearish or bullish now. Daily trading volume has been dropping for the past week which indicates a major move is going to happen soon. On BitMEX, the number of longs are still dominating the shorts, similarly, Bitfinex longs are 80% vs 20% of shorts and even Binance has a bit more long positions than shorts. 

You might also like

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry

FUNToken Announces a New pair on Binance – FUN

Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection

This indicates that the majority of traders are ready to hold, however, it could also be fuel for a bear break leading to a huge long squeeze. 

Options Market Say Bitcoin Only Has a 9% Chance to Hit a New ATH

According to recent statistics from ‘SKEW’, the options market, a derivatives market traded in contracts, is showing a tiny 9% probability for Bitcoin hitting $20k and above at the end of 2020. It also shows that most contracts are below 40% chance when it comes to Bitcoin even hitting $10,000 again.

At the same time, it seems that BTC options open interest keeps growing exponentially and has been growing over the past month. This is not necessarily bullish as it only indicates that there is a lot of liquidity, however, it is still a good metric for Bitcoin. 

Some analysts, however, are a lot more bullish on Bitcoin, for instance, Tuur Demeester, the founder of Adamant Capital has recently stated that he believes Bitcoin will reach $50,000 soon and explained why. He basically blames the governments around the world printing money and that he doesn’t think BTC will touch $6,000 again.

‘I mean, I think a price target of $50,000 is not insane at all, especially given just how crazy the money printing is’

The amount of money printed in 2020 is now close to 11% of the entire USA GDP in 2019. 

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram
DISCLAIMER Read MoreThe views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Previous Post

Right Time To Combine The Blockchain & Mobile Application To Build On-Demand Apps

Next Post

With the Dollar’s Days Numbered, Is There Room for a Digital Yuan?

Betty Snyder

Betty Snyder

I’m a cryptocurrency and blockchain technology writer. My work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and VentureBeat. I’ve been a respected voice in the cryptocurrency community and my insights into the industry have helped shape its development.

Related Posts

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry
News

Prime Minister of Vietnam visits Genetica: Propelling Vietnam to the forefront of Asia’s Biotech Industry

by Alverta O'Conner
March 14, 2023
FUNToken Announces a New pair on Binance – FUN
News

FUNToken Announces a New pair on Binance – FUN

by Alverta O'Conner
April 22, 2022
Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection
News

Meta Cricket League” – World’s First NFT Cricket Game All Set to Release Its Maiden NFT Collection

by Alverta O'Conner
April 21, 2022
Blockchain game StarMon announced important news on “NFT SEOUL 2022” in Korea. A new gameplay model will be launched
News

Blockchain game StarMon announced important news on “NFT SEOUL 2022” in Korea. A new gameplay model will be launched

by Alverta O'Conner
January 21, 2022
Blockchain

Metathon is calling for amazing DEVs and Degens!

by Betty Snyder
December 3, 2021
Next Post
With the Dollar’s Days Numbered, Is There Room for a Digital Yuan?

With the Dollar’s Days Numbered, Is There Room for a Digital Yuan?

  • Why must you pick a white label crypto exchange solution than developing a new one?
  • Bitcoin Product Demos During the Halving – Bitcoin Magazine
  • Whitelabel Cryptocurrency Exchange platform and it’s 4 salient features!
  • Despite Chaos, The Next BTC Price Rally Could Be Spurred By This Little-Known Bitcoin Indicator
    Crypto Pundit reveals what will likely ignite another parabolic Bitcoin Rally ⋆ ZyCrypto
  • Which is Best Crypto Trading Bot Platform?
  • CoinSwap Space first DEX to provide crypto purchases directly onto any non-custodial wallet via Ramp Network

    CoinSwap Space first DEX to provide crypto purchases directly onto any non-custodial wallet via Ramp Network

    3772 shares
    Share 1509 Tweet 943
  • Altseason Pushed Further Back As Top Altcoins Fall Under Bitcoin’s Spell ⋆ ZyCrypto

    3738 shares
    Share 1495 Tweet 935
  • Filecoin and Polygon Deploy Interoperable Bridge To Expedite Web 3 Development

    3545 shares
    Share 1418 Tweet 886
  • The Cost Of Transacting With Bitcoin Has Dropped By Almost 90% Within A Month ⋆ ZyCrypto

    3320 shares
    Share 1328 Tweet 830
  • CoinSwap Opens Up New DeFi Opportunities With Their Certik Approved DEX

    3032 shares
    Share 1213 Tweet 758

About

Cryptoate site is a comprehensive resource for everything related to cryptocurrency and blockchain. We aim to be a one-stop solution for all your crypto and blockchain news and events.

Email: [email protected]

Recent Posts

  • Understanding Smart Contracts: The Foundation of DeFi Lending
  • Discover Staking Risks and Considerations
  • Bug Bounty Program Governance and Policy Frameworks
  • Symbiosis Adds Arbitrum Nova to Expand DeFi Connectivity
  • How Blockchain Can Revolutionize Game Monetization Models

Catagories

  • Mining
  • Crypto
  • Press Release
  • Price Analysis
  • Cryptocurrency
  • Trading
  • Cryptocurrencies
  • Blockchain

Calender

June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    
  • About Us
  • Contact Us

Associated with Blockchain Press Media Network.

No Result
View All Result
  • Home
  • Crypto
  • DEFI
  • NFT
  • Press Release
  • Contact Us

Associated with Blockchain Press Media Network.