According to analysis by financial services company Matrixport, Bitcoin may continue to appreciate until the end of the year.
Evaluating the positions in the options markets and the Fed’s dovish policy, the Matrixport team thinks that “Bitcoin may rise to 40,000, maybe even 45,000 dollars by the end of the year.”
Bitcoin price has already doubled this year. According to CoinGecko data, the price has risen more than 30% in the last 30 days.
After this increase in price call options The demand has grown. Markus Thielen from the Matrixport team thinks that market makers will buy more Bitcoin in response to this demand and protect themselves from the risk caused by the rise in price.
This Helping Bitcoin price rise Waiting. Thielen said:
“There are two massive expirations for options on November 24 and December 29, consisting of $3.7 billion and $5.4 billion in open interest respectively. There are about 85% more call options than put options, and among these, the strike price is the most significant. $40,000 options. “As it approaches $40,000, the number of people buying Bitcoin to protect themselves from risk will increase.”
Thielen says Bitcoin is unlikely to reach this level is high told.
Thielen predicts that the decreasing inflation rate in the USA and Fed policies will also support the Bitcoin price. Thielen expects the US Consumer Price Index to fall below the Fed’s 2% target next year.