Bitcoin is currently about $ 10,000, and the analysis platform Skew sees little chance of a major bull market in 2019, as new market data.
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Skew: Bitcoin price of $20,000 is unlikely
On the basis of data of the derivatives giants LedgerX and Deribit created Skew is a chart that shows that the probability that Bitcoin achieved by 2020 a level of $ 20,000, is only seven percent.
The probability is decreased in the course of the year, although the Bitcoin exchange rate reached in the last few months, almost 13.800 $. What could change the development is the decision of the U.S. regulator in October, whether Bitcoin Exchange-Traded Funds (Bitcoin ETFs) are allowed to enter the market.
October should be the most interesting month for Bitcoin, there are two ETF requests by the SEC to be examined, summed up the Skew on the 26. August on Twitter together.
Options backed probability of bitcoin closing > 20k by YE gradually eroding with the passage of time – now @ 7%
October should be the most interesting month for bitcoin, with two ETF applications under review by the SEC pic.twitter.com/MKWEKc3IdY
— skew (@skew_markets) 26. August 2019
Currently, three ETF-applications will be examined in the United States, where the third party is likely to bring further delays. In the case of the other two is exhausted the deferment option on the part of the SEC, so that the American stock exchange Supervisory authority must approve the requests either outright or reject it.
Institutional Investors
The forecasts are based on the votes, however, with some positive advance of some of the Bitcoin Convention, say analysts. Tom Lee, who is known as a Bitcoin bull, said that by the end of 2019 a Chance at a new all-time highs for Bitcoin.
I think it will be until the end of the year is much higher, and possibly to a new all-time high, he said last week to FOX Business.
The futures market will develop this year, significantly more and more competitive. As we already reported, received Bakkt in August, the long-awaited approval from the CFTC to its physical Futures contracts to offer.
In July, the Future platform, the CME has exceeded a milestone of two million contracts traded since it has launched its product in December 2017 on the market.
Text evidence: bitcoinis, ANJA VAN OOSTERHOUT