As a seasoned crypto investor with a knack for spotting market trends and a penchant for taking calculated risks, I must admit that the current surge of Bitcoin is nothing short of exhilarating. Having witnessed the meteoric rise and fall of various digital currencies over the past decade, I can confidently say that this bull run feels different.
On Monday, Bitcoin (BTC) reached a record peak of $84,000, driven by rising investments into the cryptocurrency sector and optimistic forecasts for additional growth in the last quarter of the year.
Following Donald Trump’s triumph over Kamala Harris in the latest U.S. presidential election, there’s been a significant surge in Bitcoin value. Over the past week, it has seen a 23% increase, and within the last 24 hours, it has risen by 5.5%.
Optimism Grows For $100,000 Bitcoin
According to Bloomberg’s recent report, traders who deal with Bitcoin options are aiming for the $100,000 level, predicting that this milestone might be achieved even before the year concludes.
As a crypto investor, I’ve noticed an uptick in activity among traders on the Deribit options exchange. They seem quite bullish about Bitcoin hitting a significant milestone, as evidenced by the large bets being made. Particularly interesting is a $100,000 call option due to expire on December 27. This particular option has drawn considerable attention and, according to reports, its value has already swelled by 30%.
According to Nick Forster, founder of Derive – a platform for decentralized finance options trading, he noted that “we’re observing notable shifts” following the US election.
On this past Monday morning in London, roughly 9,635 Bitcoins with a total value of approximately $780 million were linked to wagers predicting that Bitcoin would reach $100,000 by the end of December, as per open interest.
Based on Bloomberg’s report, this is the largest investment tied to a single trade for that specific expiration date. Deribit predicts an 18.6% chance that this trade will yield a return.
Uptrend Linked To Anticipated Regulatory Changes Under Trump
In Hong Kong, Le Shi, who heads market-making company Auros, pointed out that the ongoing bullish trend in the broader market can be attributed to several assurances made by Trump during his presidential campaign.
Here are some potential actions: Establishing Bitcoin as a key reserve asset for the U.S., dismissing the head of the U.S. Securities and Exchange Commission (SEC) on his inaugural day, and creating a more transparent regulatory structure to foster the market’s expansion.
Shi thinks that a mix of advantageous market circumstances, increasing institutional attention, and a welcoming legal framework during the Trump administration might foster an environment ideal for additional price growth.
At the time of writing, BTC is trading at $84,122.
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2024-11-11 19:35