Galaxy Digital: Bitcoin can grow sharply after overcoming the mark in $36 000 – Bits Media

Bitcoin can go to a sharp increase in value, as soon as he overcomes the mark in $36 000, follows from the mood of the participants in the options market.

Options are contracts, who offer the buyer the right, but not the obligation to buy or sell the basic asset according to in advance set price.

With the increase in the price of bitcoin, the demand for options has increased. According to Galaxy Digital and Amberdata, As a result of the trend, marketmakers went into profit.

If BTC rises to $35 750–$36 000, then the dealers of options will have to purchase a large number of spotto bitcoins, said the head of the research department of Galaxy Digital Alex (Alex Thorn). 

"And this can lead to an explosion of bitcoin prices", -added the top manager.

Recently it became known, that the few largest market makers in the world can provide liquidity for the long -awaited ETF for BlackRock Bitcoin, If American regulators approve of this product.

Matrixport experts consider, that the fifth bull cycle of cryptocurrencies began and predict the growth of bitcoin to $125 000 By the end 2024 years.