Popular analyst announces Big Bitcoin (BTC) price target for Year-End
Cryptocurrency analyst and trader Ben Armstrong says the price of Bitcoin (BTC) will soon rise to six-digit territory.
Cryptocurrency analyst and trader Ben Armstrong says the price of Bitcoin (BTC) will soon rise to six-digit territory.
The BitBoy Crypto server tells its 733,000 YouTube subscribers that it is tracking derivatives traders who are currently betting on $ 100,000 and $ 300,000 Bitcoin call options with 6,700 contracts worth $ 385 million.
"Think of these guys, $ 100,000 call options are currently trading at 0.164 BTC, equivalent to about $ 9,500. They pay $ 9,500 to use this option.
This is a huge bonus. If you're betting on that, you really believe the price is going to go up.”
According to Armstrong, another bear market will come, but BTC has a long way to go ahead.
"I'm very confident. I am very confident that bitcoin will reach $ 300,000 this year. Some will say it should take longer. No, this year.
We'll be in the bear market next year. I'm not surprised to see a $ 300,000 call option here. I think a lot of people are betting on that.”