Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 06:55 AM. | Search:

» StockRants Stock Forum » Public Stock Forums » US Stock Picks » Watch: Bitcoin Trading Analysis: Why It Won’t Break 10,000...

Thread Tools Search this Thread
Old 06-16-2020, 02:27 PM   Nav to Top  #1
inthemoneystocks's Avatar
Join Date: Jan 2010
Location: NYC
Posts: 91
Favorites: spy
Rep Power: 132
Reputation: 41
inthemoneystocks is on a distinguished road
Default Bitcoin Trading Analysis: Why It Won’t Break 10,000...

Bitcoin bulls have been frustrated as the cryptocurrency has failed multiple times at the 10,000 level. Every time it pops near or just above, a seller comes out of the woodwork to slam it back down. So why on earth is it having so much trouble at the 10,000 level? This Bitcoin trading analysis will enlighten all investors.

It appears that there is almost $1 billion in options expiring on June 26th, 2020. Just 10 days away, that is fast approaching. Almost 80% of these options are call options with a strike of 10,000. There is one main seller of these options contracts. Panama-based derivatives exchange Deribit accounts for 77% of these options. In all likelihood Deribit is holding the price of Bitcoin below 10,000 to make sure those options expire worthless and they can collect the full premium. This is a huge profit windfall to them and totally worth it to use millions to keep the price under 10,000 into expiration.

As the Federal Reserve commits to digitally create trillions more Dollars and the U.S. government runs multi-trillion-Dollar deficits, Bitcoin will go higher, but likely not until after July 26th, when these options contracts expire.

Gareth Soloway
inthemoneystocks is offline   Rate this post Yes | No Reply With Quote

Similar Threads
Thread Thread Starter Forum Replies Last Post
Forex Trading System What happens when 1 pin fails to break? asiaforexmentor Forex Trading 2 06-19-2020 02:49 AM
Buy: Bitcoin (BTC) Related Companies Trading on the Stock Exchange Tradeaway US Stock Picks 2 05-22-2020 05:25 AM
gold technical analysis and wedge break out adamadam Forex Trading 2 09-13-2019 08:39 PM
Watch: Iintuitive platform for Safe BITCOIN Trading Jamalmolla US Stock Picks 0 02-12-2018 08:27 AM

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On