06 Nov Only 19% Chance Bitcoin Price Breaches $10,000 by Q2 2019
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A drop in the bitcoin price’s daily moves has lowered the market’s expectations of reclaiming a five-figure valuation anytime soon.
Options Traders Not Bullish on Bitcoin
Skew — a crypto analysis blog authored by two London-based derivative traders — claimed that bitcoin has only a 19 percent chance of breaching the $10,000-mark by June 2019. The report rested their analysis on the expected outcomes of bitcoin futures that are expiring by the third week of the last Q3 month, explaining that the volatility embedded in the price of these crypto options has come down enormously, as CCN has previously reported.
Uncertainty in an options market traditionally pushes the odds of an outcome. If the volatility of an underlying asset increases, it allows speculators to achieve their options targets before the contract expiration date. Therefore, higher volatility translates into a more significant price of…
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