EVERYBODY WILL ACCEPT BITCOIN AND ITS PRICE WILL REACH $250K IN 2022, SAYS BILLIONAIRE TIM DRAPER!!

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This past weekend, data shows the most active Bitcoin options contracts were calls for $28k, $32k, and $36k by the year’s end.

This means a number of options traders are betting the BTC price will exceed the all-time high (ATH) the decentralized currency touched in December 2017.

On September 14, researchers from the data analytics firm Skew.com tweeted about an unusual number of call options for December 2020 that are well above the 2017 ATH.

“[December 2020] $28k, $32k, [and] $36k calls among the most active bitcoin options contracts yesterday,” Skew tweeted.

All of these calls are well above the mid-December 2017 ATH, which saw BTC touch $19,600 per coin.

The new open positions took place on the crypto-financial derivatives platform Deribit.

The action took place after $570 million (notional) of BTC options contracts expired on Deribit on August 28.

There were 752 open positions for $36k, 462 contracts for $32k, and 230 for $28k.

Additionally, some $9k and $9,750 calls were set for the end of September.

Responding to Skew’s December calls tweet, one individual wrote:

“Without opining the possibilities to this, it will be entertaining to revisit at the end of the [fourth] quarter.”

Essentially, bitcoin options are crypto-derivatives products that provide a person or group with the right, but not obligation to buy and sell the BTC at a predetermined strike price, while also leveraging an expiry date.

“If you think from a technical perspective what we are getting right now is Bitcoin flipping a former resistance level at $10,000 to become a support. From May to the end of July, Bitcoin was desperately stuck below $10k. But for [seven] days now $10,000 is holding strong.”

In other trending Bitcoin News today:

Global Fiat Failure Will Push Countries to Accumulate Bitcoin, Says Max Keiser

Max Keiser, Wall Street vet and host of RT’s Keiser Report, says he believes countries will seek refuge in Bitcoin as fiat currencies fail on a global scale.

“You’ll see countries start to accumulate Bitcoin and start to mine for Bitcoin as well, and then they’ll start to subsidize the money they would be subsidizing the energy industry in and subsidizing that in the Bitcoin mining space.

So then the game theory kicks in. So, for example, Iran right now has something like 2% of the global hash rate of Bitcoin… Let’s say suddenly they’ve got 5% of the hash rate… So then America says ‘Wait a minute this is like the Sputnik moment.

Iran could potentially be the richest country in the world if they have a significant piece of Bitcoin,’ and the price goes to $400,000 to compete with gold…so then they (America) start to subsidize their mining.”

Keiser says the race to acquire more BTC between competing countries will drive the price and security of Bitcoin to heights never before seen.

“So what this does is it increases the hash rate so the hash rate now is over a hundred quintillion calculations per second in the Bitcoin mining space… Which means the security goes up, which means it’s even harder money.

Bitcoin is not only hard money but it keeps getting harder every week and every month because the hash rate gets higher and higher and higher. So with that higher security, higher hash rate, the price goes up. It becomes a self-fulfilling prophecy. So now you’re chasing the Bitcoin up through to a $100,000, $200,000 a coin to get the hard money because all your fiat money is collapsing.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://news.bitcoin.com/bitcoin-options-traders-bet-the-price-of-btc-can-touch-36k-by-december/

https://cointelegraph.com/news/more-than-1b-in-bitcoin-has-been-tokenized-for-defi

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A Bitcoin breakout to avoid a fresh price dip below $30K would be a “miracle,” says top trader Crypto Ed, as storm clouds gather for BTC bulls. 

“Now in green box but I’d expect 1 more leg down today, followed by a bounce to ~35k From there down again, sub 30k, or ‘up only’ again, but the latter feels more like a miracle tbh.”

In other trending Bitcoin News today: As Bitcoin and Crypto Markets Retreat, On-Chain Analyst Says Major Shift Happening Behind the Scenes! With the crypto market struggling to sustain any bullish momentum, Popular on-chain data analyst William Clemente tells his 99,700 Twitter followers that sellers in the BTC market are starting to show signs of exhaustion.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://cointelegraph.com/news/bitcoin-price-due-for-break-below-30k-trader-warns-after-9-daily-loss

https://cointelegraph.com/news/crypto-market-sinks-by-300b-while-bitcoin-transactions-near-3-year-low

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Will the Bitcoin price ‘Moon’ if there is a war with Iran?

Iran-based sellers on peer-to-peer trading platform LocalBitcoins are currently asking for around 1 billion Iranian rials or over $24,000 per Bitcoin (BTC), based on the official exchange rate from the country’s central bank. 

Founder of crypto analytics outlet Messari, Ryan Selkis wrote:

“Bitcoin is trading at nearly $24,000 in the USD equivalent of Iranian Rials on LocalBitcoins today. It’s unlikely those purchases are paying for the Iranian military’s response. Instead, it might be innocent (and desperate) Iranians looking for a way out of the coming chaos.”

While the BTC price was on the decline for the second half of 2019, the reality is the crypto asset still roughly doubled in value over the course of the entire year.

In fact, there were only two major cryptocurrencies that outperformed Bitcoin in 2019. On Friday morning, Nexo co-founder Antoni Trenchev told Bloomberg’s Matt Miller why he thinks the Bitcoin price could continue to rise to the $50,000 mark in 2020.

“I think that, very easily, we could see Bitcoin going up to $50,000 by the end of this year,” said Trenchev.

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Trezor: ► http://trezor.cryptonewsalerts.net

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://www.forbes.com/sites/ktorpey/2020/01/03/why-the-bitcoin-price-could-hit-50000-in-2020/#658439eb2f37

https://www.forbes.com/sites/investor/2020/01/03/bitcoin-war-iran/#5c6cb96f343b

https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate