![[시황] Bitcoin breaks ,000, option investor betting on Ether rise](http://www.coindeskkorea.com/news/photo/202012/72347_9581_362.jpg "[시황] Bitcoin breaks ,000, option investor betting on Ether rise")
- As of 9:45 this morning, Bitcoin traded for about $29,150 each. That’s a 5.39% increase in 24 hours.
- In the last 24 hours, Bitcoin has been priced between $27388 and $29,280. The highest price ever was renewed.
- On the hourly price chart, the bitcoin price exceeded the 10-hour and 50-hour moving averages.
Bitcoin price started to rise around 2 am on the 30th, reached from $26,400 to $29,000 each in 26 hours, and is trading at $29,150 as of 9:45.
Industry analyst Alex Kruger analyzed that “the movement of the bond market has fueled the rise in cryptocurrency prices,” and that “the decline in bond yields over the last 48 hours has driven the increase in bitcoin prices on the 30th.” The 10-year Treasury bond yield fell from 0.950% on the 28th to 0.926% on the 30th.
Chris Thomas, CEO of Swissquote Bank, which deals with digital assets, evaluates the rise in bitcoin price following the decline in bond yield on the 30th as a “strong market movement”. “The rise in bitcoin price is the movement of individual investors. It is according to” he said. therefore “The majority of institutional investors are closed until the 3rd of next month, so they are rarely seen in the market.”He added.
Thomas CEO followed “I expected the bitcoin price change this week to be modest, but yesterday’s sudden price hike suggests that a short-term price decline could also be possible.”Said.
“Bitcoin price continues to rise in a parabolic shape after rising on the first day of the holiday,” said Katy Stockton, an analyst specializing in Fairlead Strategy technology. . “There are few factors that hold back Bitcoin’s ankle,” he said.
However, Stockton also mentioned the possibility of a price drop, as well as Thomas, and warned that “it may fall suddenly without any notice.”
Meanwhile, more exchanges have announced suspension of trading on XRP (Ripple) tokens. It is interpreted in the aftermath of a recent lawsuit by the US Securities and Exchange Commission (SEC) to Reflaps, saying, “Selling XRP tokens violates federal securities laws.”
The Genesis Exchange, owned by CoinDesk’s parent company Digital Currency Group (DCG), has announced that it will completely discontinue XRP trading and lending services. Binance will also stop trading XRP on the 13th of next month. In the last 24 hours, XRP has fallen by about 3.5%.
Ether price to surpass $5,000 by September next year
Ether (ETH), the second largest of all cryptocurrencies, traded for $748 each as of 9:50 this morning. That’s a 0.56% increase in 24 hours.
30-day Ether trading volume was lower than the average for the last week. As a result of the aggregation of CoinDesk 20, on the 30th, Ether traded on eight major cryptocurrency exchanges was about $618 million. It was lower than the average of $726 million last week.
However, at least one Ether trader predicts that the price of Ether will rise significantly in the future. At Deribit, the world’s largest cryptocurrency option exchange, someone bought 153 option products that expire next September at a premium of $25 each.
This means that the trader bet about $3825 for a seven-fold increase in Ether over the next nine months. If you buy a call option, you can buy a specific underlying asset (in this case, Ether) at a pre-determined strike price on the maturity date, but it is not required.
At this point, the price of Ether must be close to $5,000, so the person who bought the option does not profit. Temporary price surges or relatively moderate price increases are also low probability, but can increase the return on option products. So, the amount of bet can be barely guaranteed. However, option products are still like lotteries. That’s a big risk.
Other market trends
According to CoinDesk20, only Bitcoin and Ethereum among the major cryptocurrencies rose.
Key assets that did not make a profit
- Chainlink (LINK) fell 6.17%
- Algo fell 5.45%
- Stellar (XLM) fell 6.21%
Stock market
- Japan’s Nikkei 225 Index fell 0.45% to 27,444.17
- UK FTSE100 index fell 0.71% to 6555.82
- US S&P 500 Index 3732.04, up 0.13%
Commodity market
- 0.6% increase to $48.29 per barrel of Western Texas heavy oil
- Gold price rises slightly by 0.7% to reach $1896 and 40 cents per ounce
Government bonds
- 10-year Treasury bond yield fell to 0.926%
· Translated by NewsPeppermint.
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