RATE Group | Bitcoin All-Time High in 2020? Chances Are Only 4%, Options Market Signals
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Bitcoin All-Time High in 2020? Chances Are Only 4%, Options Market Signals

01 Apr Bitcoin All-Time High in 2020? Chances Are Only 4%, Options Market Signals

Posted at 05:26h in Bitcoin News by

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While many analysts are predicting a bitcoin (BTC) bull run, the options market sees a very low probability of the cryptocurrency hitting a new record high by December.

The cryptocurrency is currently trading around $6,450 – down over 200 percent from the record high of $20,000 set in December 2017. 

The options market shows just a 4 percent chance of bitcoin crossing above $20,000 before year’s end, according to data provided by the crypto derivatives analytics firm Skew. 

In fact, the odds of prices moving into five digits by the end of December are also quite low, options market levels indicate. 

1-skew_probability_of_btc_being_above_x_dec-2020
Probability of BTC being above five digits by December 2020
Source: skew

The probability of bitcoin ending the year above $10,000 is 16 percent while the odds of prices challenging the June 2019 high of $13,880 by December are 8 to 10 percent, the data shows. 

Options are derivative contracts that give buyers a right, but not the obligation, to buy or sell the underlying asset at a…

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