Odds Of Bitcoin Hitting Record High In 2020 Are (Slightly) Up
Once again, never bet against Bitcoin. We have seen time and time again that Bitcoin knows no bounds. We could easily see a new ATH this year, even this week!
Odds of Bitcoin Hitting Record High in 2020 Are (Slightly) Up, Options Data Suggests
Bitcoin jumped above $10,300 on Sunday, breaching the resistance of a trendline falling from the December 2017 to June 2019 highs.
Following the bullish move, the options market now shows a 7% probability of bitcoin rising to the historical 2017 all-time high of $20,000 before year’s end, according to data from crypto derivatives analytics firm Skew.
The number had dropped to 4% a week ago with short-term implied volatility, a gauge of the market’s expectations for bitcoin’s future volatility, falling to record lows.
“Options market is repricing quickly the probability of [new highs] by the end of the year, from 4 to 7% over the last week,” Skew CEO Emmanuel Goh told CoinDesk in a Telegram Chat.
Full article here: https://www.coindesk.com/bitcoin-record-high-2020-slightly-up-options-data