The Bitcoin price is slowly but surely climbing back into higher territory and is thus further removed from the support at USD 10,000. Only yesterday evening the BTC price made it above the USD 11,000 mark for the first time in a few weeks, but it quickly fell again and is currently at around USD 11,900 at the time of this writing.
The level of a Bitcoin price of over USD 12,000 is far from being reached, but the asset is well on its way there. In this context, it is important first of all that things are apparently going up again and that there is now an ever larger buffer to the four-digit rates. In addition to this bullish movement, some data from BTC options and futures trading are extremely positive and even give hope for a price of USD 36,000 by the end of the year.
Bitcoin course and the 36,000 USD bet by the end of the year
The Bitcoin price is on the up again and some participants in the options markets seem to take this as an opportunity to look very optimistically into the future of BTC. Many are betting on much higher prices by the end of the year.
As reported by the data analytics firm Skew, the options that bet on a Bitcoin price of $ 36,000 by the end of the year were the most traded on September 13th. Followed by this type of options, the second most popular contracts traded were those speculating at a BTC price of $ 32,000. $ 28,000 also seems to be a popular destination.
In addition, the sentiment among traders also seems to be bullish again in the short term. According to another post from Skew, a total of 2,000 BTC options contracts traded on the CME on Monday called for a Bitcoin rate of $ 11,500, $ 12,000, or $ 12,500 by October 20th.
Buy bitcoinTrade on the world’s leading social trading platform!
Join millions of people who have already discovered how to invest smarter by copying or being copied from the best investors in our community for a second income. Start now!
The futures market is also changing to bullish
But not only data from the options market give hope for a higher Bitcoin price in the next few months. The mood on the futures market has also clearly changed to bullish. Many futures traders switched to long positions on the BitMEX Cryto exchange.
Data from Skew shows that buy settlements / long bets on XBTUSD were over $ 20 million, while sales settlements / short bets were just $ 9.2 million.
The data from the options and futures markets are of course not Bitcoin prices that inevitably have to occur. Rather, they reflect the general mood among market participants. In summary, we can say that the bullish sentiment around the Bitcoin price has returned and the way is clear for recapturing the USD 12,000 mark.
Do you also believe in a higher Bitcoin rate?
Are you also bullish about Bitcoin yourself? Then you may still be looking for a suitable trading platform so as not to miss the predicted increase in Bitcoin.
We would like to help you to find the right contact point for a secure trade with Bitcoin. So if you are still looking for a reliable, regulated broker who can help you
trading with leverage (2x),
entering into long and short positions,
Deposits via PayPal,
sending real bitcoins to your wallet and
enables the use of a wide range of trading tools,
without downloading any software,
then the world’s leading social trading platform eToro is just right for you!
Here you benefit from a pleasant design and extremely easy and intuitive usability with customer service around the clock. Register today without obligation and try out all the functions of the platform without being forced to trade with real money.
Posted in Bitcoin