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

Q: How long will it take to read this news story?

The story "Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It?" has 502 words across 47 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Bitcoin Shakes Off the Bears and Aims for $20,000 By End Of Year, Can It Make It?" was covered 2 months ago by NewsBTC, a news publisher based in United Kingdom.

Q: How trustworthy is 'NewsBTC' news outlet?

NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news. The outlet is headquartered in United Kingdom and publishes an average of 3 news stories per day. It's most recent story was published 2 days ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #1998399</li><li>URL: https://beamstart.com/news/bitcoin-shakes-off-the-bears-16696298391207</li></ul>

NewsBTC 2 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.