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Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It?

NewsBTC LogoNewsBTC2 mo ago

Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It? - NewsBTC

Quick Summary:

The metric is returning to normal levels hinting at the market finally absorbing any risk associated with FTX: However, options with close expiration dates (December 2th) might decay in value due to the low trading volume weekend.  (…) the news flow reprieve has also allowed implied vol to retrace from a high-tension backwardation a few days ago, to a more normal contango term structure.A Christmas Miracle?

The cryptocurrency suffered amid the FTX’s collapse and the subsequent contagion, but market participants seem more optimistic about potential profits.  Related Reading: Data Signals Major Red Flag As Chainlink (LINK) Rises 8% Over Last 7 Days As of this writing, Bitcoin has retraced back to yesterday’s highs.

In other words, the options market is betting on Bitcoin, trending higher by the end of the year.  Deribit noted the following on Implied Volatility (IV), a metric affected by recent events.


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Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It? - NewsBTC (Picture 1)Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It? - NewsBTC (Picture 2)Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It? - NewsBTC (Picture 3)

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Article Details

Author / Journalist: Reynaldo Marquez

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 16:11:00 (2 months ago)

News Timezone: GMT +8:00

Ranking: #1341 (out of 2870 stories this day)

News Source URL: newsbtc.com

Language: English

Article Length: 502 words

Reading Time: 3 minutes read

Sentences: 47 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 1998399

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About NewsBTC

NewsBTC Logo

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 3 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 2 days ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

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