The price of Bitcoin will reach $1.5 million by 2030, and the price trend of Bitcoin ($BTC) and Ethereum ($ETH) will be bullish in the near future
The price of Bitcoin will reach $1.5 million by 2030, and the price trend of Bitcoin ($BTC) and Ethereum ($ETH) will be bullish in the near future. According to the trends observed in the options market, Bitcoin is expected to rise to $42000 by April 2024, which is not surprising.
According to InvestAnswers' data, Bitcoin's call options have attracted more demand than put options, indicating a clear bullish sentiment. It is worth noting that a call option is a product that grants the holder the right to purchase assets at a specified price within a certain time frame, but without any obligation.
On the contrary, put options allow but do not force holders to sell assets under the same conditions. The host of InvestAnswers pointed out that at the end of this year, "there was a lot of action at the $45000 level," and added that the put to call ratio is currently 0.39, which is "very bullish. He added:
I have said many times before that I wouldn't be surprised if we saw $42000 when we halved in April 2024. According to the chart below, we can arrive there before Christmas for over $45000. Once again, if the player operating these options is correct
Turning to Ethereum, the anonymous analyst interpreted the put option ratio of the second largest Cryptocurrency calculated by market value as a sign of "extreme bullish". According to his statement, "On the same day of December 29, 2023, ETH experienced a significant increase in bullish demand again, with a price of $2500
He said that the ratio of put options to call options here was 0.21, which was "extremely bullish", and "almost no one" bought Ethereum's put options, because the market expected that Cryptocurrency would exceed $2000 and rise to $2500 before Christmas.
The host added that the timing may not be predictable, but the next five months and the following year will be exciting. In his words, the next 18 months will be "absolute joy".
According to CryptoGlboe, Cryptocurrency analyst Willy Woo recently said that he believes that the price of the flagship Cryptocurrency Bitcoin is in the "early stage of another price squeeze", which indicates that the price of Cryptocurrency may soar in the near future.
Woo's remarks came as the first spot bitcoin exchange traded fund (ETF) listing contest in the United States opened, and the major financial giants who jointly managed an astonishing $27 trillion of assets were entering the field of bitcoin and Cryptocurrency.
Meltem Demirrors, chief strategic officer of CoinShares, said that financial giants such as BlackRock, Fidelity, JPMorgan Chase, Morgan Stanley, Goldman Sachs, BNY Mellon, Kingson and Bank of America were "actively working to provide services such as Bitcoin".
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