The data show that Bitcoin (BTC) has a 7% chance of reaching a full-time high of $ 20,000 by the end of this year.

As of October 22, bitcoin options have moved in favor of continued price gains in 2020, according to Skew cross-chain analytics.

BTC fast revaluation options
At the time of publication, the probability that BTC / USD would be $ 20,000 or higher by December 31, 2020, was 7%, with 11% against $ 18,000.

In March 2021, several prices said that Bitcoin should return $ 20,000 (14%), while the figure for June 2021 was 18%.

On social media, Skew said the probability data “changes rapidly” after Bitcoin spent $ 13,200.

As Cointelegraph reports, institutional investor sentiment remains bullish despite rising prices. For example, a recent COT report from CME Group showed that institutions were too long, not short BTC.

Statistician Willie Wu said on Wednesday that investors who want to store coins in the long run have taken large amounts of liquidity from speculative markets. Wu described the event, which included 250,000 bitcoins ($ 3.24 billion), as “the mother of all adventure.”

“Where did the offer come from? 250,000 coins ($ 2 billion) have been withdrawn from speculative shares on the HODL exchanges. ”

“This is where the show has come from so far, and has been the mother of all experiences, and the Bulls’ previous operations were supported by small shovels.”
Completely organic pump
The organic behavior that drove up prices did not go unnoticed. For Charles Edwards, founder of Capriole, director of digital assets, this was unique to Bitcoin’s 12-year-old.

This pump is movable. On Thursday, he tweeted: “There is almost no resistance in the order book.”

“Yes, things can change quickly, this is cryptocurrency. But this is a very useful step. Something we have never seen before on 12K plus #BITCoin. ”

However, Bitcoin futures trading volume has almost tripled in the last two days compared to levels seen earlier this month when the price of bitcoin rose above $ 12,000.

Source: CoinTelegraph