The recent Bitcoin (BTC) price surge, which saw the leading digital currency bounce from $7,400 around $10,500, has drastically increased the probability of Bitcoin being above $20K by next summer.
According to Bitcoin options data from market research firm Skew, investor expectation of Bitcoin being above $20K by June 2020 has jumped from 4% to 10% in three days. This percentage is based on price targets from Bitcoin option maturity dates.
It's back: expectations of BTC > $20k in June 2020 jumps from 4 to 10% in only three days pic.twitter.com/g0QMz7HdF7
— skew (@skew_markets) October 27, 2019
Based on similar data, the likelihood of BTC being above $20K in December sits at 2%, while the March maturity date has a 6% likelihood. Prior to the latest rally, these values sat at 1% and 5%, respectively.
Bitcoin is currently trading at $9,275, meaning a move to $20,000 would represent a 115% increase.
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More: Skew’s Bitcoin Options Data
Recent: Trader Calls for Ethereum (ETH) to Increase 40% in November
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
