Anonymous server of InvestAnswers bitcoin Updated bullish price targets for (BTC) and Ethereum (ETH).
In a new video, the host tells his 445,000 YouTube subscribers he wouldn’t be “surprised” if BTC reaches $42,000 by April 2024.
Its forecast is based on the behavior of the options market. According to InvestAnswers, demand for the Crypto asset for call options is higher than for put options, which means “very bullish”.
Call options are contracts that give the holder the right to buy an underlying asset at a specified price on or before a specified date; Put options give the holder the right to sell an underlying asset at a specified price on or before a specified date.
“December 29, 2023 – and here you can see a huge amount of action at the $45,000 level…
One thing I want you to notice is the buy-sell ratio – 0.39. So many more calls are bought than sales, which means a lot of bullishness.
But even there it’s $45,000, $44,000, $43,000, etc. Look at the amount of price movements.
I’ve said it many times before, I wouldn’t be surprised if we see $42,000 during the halving by April 2024. According to the chart below, we could reach $45,000+ by Christmas. Again, if the players of these option actions are right…”
BTC is trading at $ 30,560 at the time of writing this news.
Ethereum(ETH) says the put-call rate of the second-largest crypto asset by market is sending an “extremely bullish” signal.
“At $2,500 for ETH, you can see a lot of buying demand again on the same date, December 29, 2023.
But keep your eyes on the put-call ratio 0.21. That’s a huge uptrend. Nobody, almost nobody buys put options on Ethereum (ETH). Everyone expects it to go north from $2,000 by Christmas, to an average of $2,500. Others are estimating around $6,500.
So in both cases, things are developing fast, we don’t know when it will happen. But the next five months are sure to be fun. And the year after that. So we’re going to have fun here for a year and a half.”
Crypto The asset is trading at $1,913 at the time of writing.
You can find the current market movements here.