Positive for Bitcoin, Deribit adds $300K strike Bitcoin options

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Crypto futures exchange Deribit has recently added Bitcoin options at a $300K strike price and expires in December 2021.

This move is hugely positive for Bitcoin, as traders joining this position assume that the price of cryptocurrencies will reach $300K at the end of the year.

Market-leading cryptocurrency has come together dramatically over the last two months, hitting an all-time high of $41,500 earlier this week.

In reality, data from Crypto Watch reveals that Bitcoin’s bull run has continued to intensify over the past few weeks, taking just 2 days to hit $40,000 out of $35,000.

According to one trader, the top trend in Bitcoin’s charts has been disrupted and, as such, the market trend since October will begin to accelerate to a higher parabola point. His research suggests that $60K, $80K, and $100K rates are a probability this month.

Driven by this rapid price rally, the market cap for cryptocurrencies has also grown to eclipse big corporations such as Berkshire Hathaway and Visa.

While those who conclude that a correction is inevitable have been astounded by this vertical price movement, others have not been too shocked by market developments.

According to investor Preston Pysh, the current market activity tends to be ‘fairly natural’ after a quantitative tightening (halving) case. He’s going to state:

“Not sure why everyone thinks this is so surprising. This is what an algorithmically programmed, unmanipulated, decentralized monetary policy does. Welcome to the 21st century.”

 

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