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    Bitcoin option traders optimistic about surpassing $100,000 by 2024, data shows mixed signals

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    Crypto, price, predictions and where do they lead, weather, report, coin, B-man, price volatility, crypto market, weather center, map, forecast, bitcoin

    30s Summary

    Almost half of Bitcoin option traders predict Bitcoin will exceed $100,000 by end of 2024, with some speculating it could reach $150,000, according to DeFi protocol founder Nick Forster. Buying is more popular than selling, with most expecting Bitcoin to rise, as it currently stands at $92,680. Data predicts a 68% chance of Bitcoin fluctuating between $81,493 and $115,579 by the end of 2024. Despite the positive speculation, price drops could happen, warns CryptoQuant CEO Ki Young Ju. Traders are advised to conduct their own research since investing carries risks.

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    So just about half of all Bitcoin option traders think Bitcoin is gonna break that six-figure mark by the end of 2024. Some are even hoping it soars up to $150,000, despite it recently dipping down to $90,000.

    The chance of Bitcoin exceeding $100,000 has jumped up from 34% to a cool 45%, with a 4% shot of it going over $150,000, according to data nerd and DeFi protocol founder Nick Forster.

    Bitcoin selling isn’t too popular now according to the same data. Heaps of buyers are betting that Bitcoin’s price will increase, which shows most people think Bitcoin has potential to rise even more.

    According to the same data, nearly half believed Bitcoin’s price will go up, while slightly under 40% were betting it’ll go down, but not many were selling.

    Right now Bitcoin’s cost is $92,680, down by 7.02% from its highest ever peak of nearly $100,000, which it hit when it got up to $99,541.

    The data hints that by the end of 2024, there’s a 68% possibility of Bitcoin either dropping down to $81,493 or rising to $115,579. However, it only has a 5% chance of dropping below $70,000 to $68,429, or soaring up to as high as $137,645.

    But beware, some experts reckon that even harsher price drops are still possible. According to CryptoQuant CEO and founder Ki Young Ju, Bitcoin can have 30% pullbacks even when it’s doing really well. This has happened before in the 2021 cycle when Bitcoin rose from $17,000 to $64,000.

    But don’t worry too much – according to the same expert, it’s just about managing your risk and not panic selling at the lowest points. After all, Bitcoin is still on the up and up in the long run.

    There’s also a prominent crypto expert known as PlanC who’s actually glad to see Bitcoin sort of hovering in the 90s. If it stays like this, he reckons, it’s the best-case scenario for Bitcoin’s market in the long term.

    Remember though, all of this is just expert opinions and data – there are always risks when you’re dealing with investments and trades. Always do your own research before making any big decisions!

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