Bitcoin Price All-Time High This Year? Don’t Bet on It

The likelihood of the bitcoin price surpassing its all-time high of $20,000 by the end of the year is a mere six percent. That’s according to data from Skew which tracks the BTC options market.

Bitcoin has found itself consolidating around the crucial inflection point of $10,000. And while most traders agree that BTC is now poised for a major break, time is running out to claim a new record high by the end of 2019.

Bitcoin options are a derivative product used by traders on platforms like LedgerX and Deribit. They allow traders to speculate on the future price of bitcoin. A bitcoin option gives the trader the right, but not an obligation, to buy bitcoin at a certain price, on a certain date in the future.

For example, a trader might buy a ‘call option’ to purchase bitcoin at $20,000 on 31st December 2019. That trade would imply a strong bullish sentiment.

Reference: https://www.ccn.com/bitcoin-price-all-time-high-2019-nah/

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