/ latest / 2019/03 / options-merchant-show-little-confidence-in-bitcoin-hit-10000-this-year /
Cryptocurrency merchants have so far shown little confidence in bitcoin, the flagship cryptocurrency, climbs back to $ 10,000 this year, according to data from analytics firm Skew, which tracks bitcoin futures and option data.
Per its founder, Emmanuel Goh, bitcoin options trading volumes have doubled since the beginning of the year and now see $ 10 million traded a day. Elections allow investors to bet on whether the price of BTC will reach a certain level at a particular time, and current data shows that dealers do not bet on a 201
Per Goh puts the 5% change – 4 delta – on the BTC hit $ 10,000 in September. He told MarketWatch:
We have a $ 10k expiration date, currently priced at a 5 delta.
According to the news, there is a $ 20,000 calloption expiring within three months. These options entitle their holders – but not the obligation – to buy their underlying asset at a certain price at a particular time.
Per Goh, this trade was probably a "bullish trade made last year, as investors were still discussing the short-term opportunity to make new highs." According to option traders, the likelihood of bitcoin trading of $ 20,000 in three months is essentially zero.
In particular, the bitcoins price has been restored as it hit a low amount of about $ 3,200 last December. The year-long bear market, which saw it fall from nearly $ 20,000 to high, seems to be over, although the restoration has been slow.
At press time, bitcoin trades close to the $ 4,100 mark, which has fallen by 0.3% over the last 24-hour period. The flagship crypto competition market coverage is DKK 72.2 billion. $.
While Goh noted that set up trades over $ 10,000 have seen "little action too late", he noted a big deal can trigger "much more trade" as trading can scramble to uncover the stakes they have placed.