Options traders are contending with ever-decreasing odds as markets grind on at around $10,000.
There is a 93% chance that Bitcoin (BTC) prices will not surpass their all-time high of $20,000 this year, according to market forecasts.
The latest data, from analyst “Skew” on Twitter, suggests the odds are lengthening for investors betting on BTC prices breaking records this year.
Little expectation of Bitcoin price miracle in 2019
Skew noted October’s deadline for the United States Securities and Exchange Commission (SEC) to approve two Bitcoin exchange-traded funds (ETFs) should produce a watershed moment for markets.
“October should be the most interesting month for bitcoin with two ETF applications under review by the SEC,” they wrote.
All eyes on October?
Not all forecasts are as pessimistic. According to LedgerX’s Oracle, there is a 31% chance of BTC/USD hitting $15,000 by Dec. 28.
Recently, bullish tones have been coming from some of Bitcoin’s best-known figures — including author and angel investor Murad Mahmudov, who claimed on Tuesday that BTC had found its new floor at $10,000.
“~10K is the new ~6K”, but instead of breaking down it will hold and start grinding UP,” he wrote on Twitter.
Others were eyeing closer timeframes, such as the end of August, the settlement date for the latest round of Bitcoin futures contracts.
Source: Cointelegraph https://cointelegraph.com/