What’s the outlook for record breaking bitcoin?


Bitcoin, which valued more than 300 percent in a year, rose to $ 41,000 on January 8. The price of bitcoin, which had a correction of $ 4,000 until a day ago, managed to set a new price record on this new day. Meanwhile, important developments were made in the spot and futures markets.

Bitcoin, which experienced a small correction after seeing $ 40,000; recovered and broke a new record. The price of bitcoin, which rose to $ 41 thousand, exceeded 300 thousand lira in domestic stock markets. Bloomberg Galaxy Crypto Index, which includes Bitcoin, Ether and three different cryptocurrencies; within a week it rose by 50%. These cryptocurrencies haven’t had such a good week since December 2017.

According to Into The Block data, the number of daily active addresses in bitcoin reached 1.35 million this week, breaking a record. While the number of wallets hosting Bitcoin was 33.56 million, it has been announced that every investor who has made HODL so far has made a profit.

New records set in the derivatives market

According to Skew data, the interest of bitcoin investors in option contracts is growing rapidly. The value of open positions in the options market has exceeded $ 10 billion as of yesterday. The total volume of term bitcoin contracts exceeded $ 100 billion on the same date, thus setting a volume record.

Once in a while: 20 thousand dollars or 50 thousand dollars?

Bloomberg Intelligence analyst Mike McGlone said in his analysis he shared yesterday that bitcoin remained between $ 20,000 and $ 50,000. Based on the developments in the gold market, McGlone; He stated that the probability of bitcoin being 50 thousand dollars is increasing gradually.

On-chain analyst Willy Woo pointed out that it is difficult to make a price prediction in the case of bitcoin. Woo; “We can only use magic numbers to determine the support / resistance range when there is no resistance point left in the past (upstream of the chart) … Bitcoin is literally floating in uncharted territory.” made his comment.