{"id":565024,"date":"2020-12-17T20:03:48","date_gmt":"2020-12-17T17:03:48","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=565024"},"modified":"2020-12-17T20:03:48","modified_gmt":"2020-12-17T17:03:48","slug":"bitcoin-has-a-50-chance-at-surpassing-30k-in-2021-btc-analyst","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-has-a-50-chance-at-surpassing-30k-in-2021-btc-analyst\/","title":{"rendered":"Bitcoin has a 50% Chance at Surpassing $30k in 2021 &#8211; BTC Analyst"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Timothy Peterson has forecasted that Bitcoin has a 50% chance at surpassing $30k in 2021<\/strong><\/li>\n<li><strong>Bitcoin has just set an all-time high of $23,800 &#8211; Binance rate<\/strong><\/li>\n<li><strong>The daily BTC\/USDT still hints of bullishness and Bitcoin could keep moving higher<\/strong><\/li>\n<li><strong>Deribit has introduced a Bitcoin options contract expiring September 2021 with a $100k strike price\u00a0<\/strong><\/li>\n<li><strong>Such an options contract might be testing the limits of probabiliti<\/strong>es<\/li>\n<\/ul>\n<p>Veteran Bitcoin and Crypto analyst, <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-price-is-ahead-of-fundamentals-by-6-9-months-btc-analyst\/\" target=\"_blank\" rel=\"noopener\">Timothy Peterson<\/a>, has given BTC a 50% chance at breaking and surpassing $30,000 next year. Mr. Peterson made the comments via Twitter and also pointed out that such a value puts Bitcoin&#8217;s expected return at 21%. Below is his tweet in which he shares his analysis of <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-bitcoin-btc-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">There&#39;s a 50% chance that <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#bitcoin<\/a> will surpass $30,000 in 2021. This puts the expected return (<a href=\"https:\/\/t.co\/BOaMmNUbPO\" rel=\"nofollow\">https:\/\/t.co\/BOaMmNUbPO<\/a>) at 21%.<\/p>\n<p>&mdash; Timothy Peterson (@nsquaredcrypto) <a href=\"https:\/\/twitter.com\/nsquaredcrypto\/status\/1339362172326035457?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">December 17, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin Sets a New All-Time High of $23,800, Aims Higher<\/h2>\n<p>Mr. Peterson&#8217;s comments were made earlier today and before Bitcoin <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-liquidations-exceed-1b-in-24-hrs-as-btc-heads-to-23k\/\" target=\"_blank\" rel=\"noopener\">set a new all-time high<\/a> value of $23,800 -Binance rate. At the time of writing, Bitcoin is trading at $23,584 and looks set to attempt breaking this recently set all-time high in the hours or days to follow.<\/p>\n<p>A quick glance at the daily BTC\/USDT chart below reveals that <a href=\"https:\/\/en.ethereumworldnews.com\/50k-is-bitcoins-resistance-in-2021-10k-is-btcs-support-report\/\" target=\"_blank\" rel=\"noopener\">Bitcoin is still bullish<\/a> and could have enough &#8216;juice&#8217; for another push higher.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th.jpg\"><img class=\"aligncenter size-large wp-image-565026\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-1024x499.jpg\" alt=\"\" width=\"1024\" height=\"499\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-1024x499.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-300x146.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-770x375.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-500x243.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-240x117.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th-717x349.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/12\/BTCUSDT-Dec-17th.jpg 1035w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<p>From the daily Bitcoin chart above, the following can also be observed.<\/p>\n<ul>\n<li>The MACD has just crossed in a bullish manner above the baseline<\/li>\n<li>Trade volume is once again very much in the green<\/li>\n<li>The daily MFI is yet to be exhausted at a value of 59, hinting that Bitcoin could keep moving up<\/li>\n<li>However, the daily RSI is high at 77. This is the same level it was when Bitcoin pushed from $12k to $19k in late October through November<\/li>\n<li>Comparing the current RSI level to that of late October, it can be concluded that Bitcoin has a chance at sustaining this rally further and before the year is over.<\/li>\n<\/ul>\n<h2>Deribit Introduces $100k Strike For BTC Options that Expire Sept 2021<\/h2>\n<p>It is therefore not surprising that the crypto exchange of Deribit has introduced a Bitcoin options contract with a $100k strike price which will expire September 24th, 2021. The exchange shared their new investment product via the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We&#39;ve introduced the $100K strike for the BTC-24SEP21 expiry. \ud83d\ude80<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bitcoin<\/a><\/p>\n<p>&mdash; Deribit (@DeribitExchange) <a href=\"https:\/\/twitter.com\/DeribitExchange\/status\/1339564713403961346?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">December 17, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, Bitcoin pushing as high as $100k by next September might be pushing the limits of probabilities as explained by Timothy Peterson in <a href=\"https:\/\/twitter.com\/nsquaredcrypto\/status\/1339593904178438146\" target=\"_blank\" rel=\"nofollow noopener\">the following statement<\/a> in response to Deribit&#8217;s launch of the options contract.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">A lottery ticket for suckers, no rational investor would take this bet. The expected return on this option is effectively 0 and probability of failure exceedingly high. The expected return on buy and hold <\/span><span class=\"r-18u37iz\">#bitcoin <\/span>is &gt; 0 and probability of failure almost zero.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Timothy Peterson has forecasted that Bitcoin has a 50% chance at surpassing $30k in 2021 Bitcoin has just set an all-time high of $23,800 &#8211; Binance rate The daily BTC\/USDT still hints of bullishness and Bitcoin could keep moving higher Deribit has introduced a Bitcoin options contract expiring September 2021 with a $100k strike price\u00a0 Such an options contract might be testing the limits of probabilities Veteran Bitcoin and Crypto analyst, Timothy Peterson, has given BTC a 50% [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":56430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1233,6961,108134],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565024"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=565024"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/565024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/56430"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=565024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=565024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=565024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}