Traders Can Now Bet on 'Bitcoin $300K' as Options Keep Pace With Rising Price
It supersedes the $200,000 option on Deribit as the maximum one can wager.
Jan 8, 2021 at 10:15 p.m. UTCUpdated Aug 19, 2021 at 6:32 a.m. UTC
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Traders can now bet on whether bitcoin will hit $300,000 by year's end.
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- Crypto derivatives exchange Deribit has added a $300,000 option to keep up with BTC's blistering price performance in recent weeks.
- The $200,000 option came into being late last week after bitcoin rose from $25,000 on Dec. 25 to $32,000 on Jan. 2.
- Six days later – with bitcoin currently north of $39,000 and having risen to as high as $41,962.36 earlier Friday – the maximum option followed suit.
- Even with the bullishness driving bitcoin's rally, there's only so high folks are willing to climb, as you can see from the following picture of open positions on Deribit's website.
- Other than one optimistic soul wagering that $200,000 this year could be a real thing, there's been no activity at any strike above $100,000.
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STORY CONTINUES BELOW
- Generally, options indicate how some of the market's more sophisticated traders are gauging current price trends.
- Hope may spring eternal but apparently even hope has a ceiling.
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