Bitcoin Analyst Saylor unfazed by $60,000 retracement, BTC ETF options gain traction.
Bitcoin Analyst Saylor Unfazed by $60,000 Retrace
Michael Saylor, the CEO of MicroStrategy, has been a vocal advocate for Bitcoin’s potential to reach new heights. However, in a recent interview, Saylor cast doubt on the possibility of a $60K Bitcoin retrace. Speaking to CNBC, Saylor expressed his skepticism about the idea that Bitcoin’s price could drop to $60,000, citing the growing institutional interest in the cryptocurrency as a key factor.
“I think people are beginning to realize that this is not just a speculation game, this is a store of value,” Saylor said. “And when you have institutions like this, they’re not going to dump the asset at $60,000. They’re going to hold it, they’re going to accumulate it.”
Bitcoin ETF Options Pass ‘Second Hurdle’
In other news, Bitcoin ETF options have cleared a significant hurdle in their quest for regulatory approval. According to a report by CNBC, the Securities and Exchange Commission (SEC) has allowed the first Bitcoin ETF options to trade on the Chicago Board Options Exchange (CBOE) and the CBOE Futures Exchange (CFE).
This is a significant step forward for the cryptocurrency market, as it paves the way for institutional investors to gain exposure to Bitcoin through traditional financial channels. The approval of Bitcoin ETF options is a “second hurdle” cleared, as they must first meet the approval of the Commodity Futures Trading Commission (CFTC) before being listed for trading.
A $100K Price Tag by Thanksgiving?
In a surprising prediction, a Bitcoin trader is warning that the cryptocurrency’s price could hit $100,000 by Thanksgiving Day in the United States. According to a report by Hodler’s Digest, the trader cited a number of factors, including continued institutional interest and speculation about the future of central banks.
“While many traders are waiting for a Bitcoin price drop to buy in, we’re seeing institutional investors adding to their positions and the demand for Bitcoin is still very strong,” said the trader, who wished to remain anonymous.
While this prediction may seem outlandish to some, it’s worth noting that Bitcoin’s price has rallied sharply in recent weeks, fueled by a surge in institutional interest and speculation about the future of central banks.
