Now the excessive volatility of Bitcoin is no more a mystery. In fact, this is one of those major factors that end up making Bitcoin a dilemmatic platform to invest in. Within the course of a single transaction, its value in even a fiat currency like the U.S. dollar could possibly move from $15,000 to $19,000 which makes it hardly reliable.
Therefore as far as the present scenario is concerned, the recently compiled statistics clearly indicate that there has been the very low sign of optimism for the Bitcoin Option Traders. Truth be told, the bitcoin predictions for the past 12 months have been more like throwing a dart at the wall. It has been tremendously tough to track down a credible as well as correct prediction.
HOW IS THIS SCENARIO PERCEIVED BY THE EXPERTS?
Truth be told, one can never deny the fact that Option Trading, in the entire Bitcoin market never failed to gain enormous attention with volumes on the rise.
Keeping this fact and the present scenario in mind, a former equity derivatives trader at JPMorgan as well as the co-founder of Skew, Emmanuel Goh put forward some interesting facts around this issue:
Goh clearly stated that as far as the $10,000 September contract is concerned, he views it as current price with a 5 delta.
This simply means the probability that bitcoin BTCUSD, +14.04% will be above $10,000 is just 5%. In other words, there is only 5% collective assurity within traders that the Bitcoin will ever reach quintuple digits by the end of Q3.
These are perhaps some of the imperative factors why traders in this specific market seems to avoid the $10,000+ range.
Moreover, Goh also stated the fact for many BTC break out is more of an unlikely event.
Well talking about another imperative as well as powerful figure in the crypto market, Aurthur Hayes , the CEO of BitMEX recently claimed that fact that there will soon be a ray of hope or better profits in the market later this year, thus allowing Bitcoin to “call back to $10,000”.