Skip to content

Bitcoin now has a 7% chance of breaking its all-time high of $ 20,000 in the next 2 months

October 22, 2020

Bitcoin (BTC) now has a 7% chance of breaking its all-time high of $ 20,000 by the end of this year, data shows.

According to information from the chain analysis source Aslant, As of October 22, Bitcoin options have moved in such a way that we will continue to see higher prices in 2020.

BTC odds “change price quickly”

At the time of this writing The chance of BTC / USD reaching USD 20,000 or more by December 31, 2020 was 7%. at 11% for USD 18,000.

Bitcoin now has a 7% chance of breaking its all-time high of $ 20,000 in the next 2 months
Bitcoin now has a 7% chance of breaking its all-time high of $ 20,000 in the next 2 months

Until March 2021 Further bets said Bitcoin would have hit $ 20,000 (14%) again, while the number for June 2021 was 18%.

On social media, Skew said that probability data They quickly changed the price after Bitcoin hit $ 13,200.

Bitcoin Options Price Probability Chart. Source: Skew

How reported Cointelegraph, sentiment among institutional investors remains upwards despite higher price levels. The latest commitment report from traders in the CME Group, for example: showed that institutions are more likely to have a large number of long positions than short positions.

On Wednesday the statistician Willy woos He found that investors who wanted to hold their currencies long-term had drawn enormous amounts of liquidity from the speculative areas. Woo described the event that was associated with it 250,000 BTC ($ 3.24 billion) as the “mother of all picks”.

“Where did the shipment come from? 250,000 coins (more than USD 2 billion) were withdrawn from speculative stocks on the exchanges in cash to HODL.” wrote on Twitter.

“This is where the offer from before came and was the mother of all picks. Earlier bull runs were powered by small pickups.”

A completely organic trend

The organic nature of the behavior that caused the price hike has not gone unnoticed. To the Charles Edwards, Founder of the digital asset manager Capriole, this was a unique phenomenon in the twelve years of Bitcoin’s life.

“This increase is organically due to spot exchanges. There is almost no resistance in the order book “, tweeted on Thursday.

“Yes, things can change quickly, it’s crypto. But that’s a very healthy move. Something we’ve never seen before #bitcoin past 12,000.”

However, Bitcoin futures trading volume has also nearly tripled in the past two days, compared to what it was earlier this month when the price of Bitcoin topped $ 12,000.