Bitcoin continues its rebound this week after Sunday's crash.
The ether options market suggests a roller coaster ride ahead for the world's second largest cryptocurrency.
Bitcoin trading around $11,868 as of 20:00 UTC. Gaining 1.8% over the previous 24 hours.
BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
"If one looks at how the price of bitcoin moved after the second halving in 2016, the path taken so far is highly similar: A sideways period of six to eight weeks post-halving, followed by a run-up and a correction before heading to all-time highs a few months later."
Henrik Kueglberg, a Sweden-based over-the-counter bitcoin trader, says the grim realities of the global economy continue to make the case for investment in cryptocurrencies over the next few months as well.
"Let's get real. Stocks will fall and interest rates will be kept low. I expect another bitcoin all-time high in September and increasing prices all through Q4.".
Ether, the second-largest cryptocurrency by market capitalization, was down Thursday trading around $397 and slipping 0.45% in 24 hours as of 20:00 UTC.The ether options market is on an absolute tear and seeing huge amounts of bets.
"The options market has now caught up with the underlying and is anticipating further moves in the near future as implied volatility is now greater than realized volatility," he added.
When implied volatility is greater than realized volatility, it generally means that the market expects increased price fluctuations are ahead. Other markets.
Market Wrap: Bitcoin Breaks $11,800; Ether Options Market Explodes
Published on Aug 6, 2020
by Coindesk | Published on Coinage
Are we dumb? Financial illiterates 'twice as likely to own crypto'
According to the results of Bank of Canada's 2019 Cash Alternative Survey published in August 2020, financial literacy is positively associated with the awareness of cryptocurrencies but negatively associated with ownership.
Developer reveals 'biggest unsolvable Lightning attack vector'
Independent Bitcoin Lightning developer, Joost Jager, has outlined an exploit of the micro-payments network that could result in channels being compromised with very little effort and negligible cost.
Yam plans protocol overhaul despite first successful V3 rebase
Despite Yam's first post-relaunch rebase executing successfully, its developers are planning many more changes to the protocol.
Yearn.finance's founder and others aren't bullish on Uniswap's current governance model
Last week, the decentralized exchange Uniswap shocked the crypto world when it released its own token, UNI. The launch was predicated on fully decentralizing the protocol and putting the control of its direction in the hands of users, as all historical traders on the Ethereum-based application were gifted UNI. Every historical trader got a baseline distribution of 400 coins and liquidity providers got access to more, with many getting hundreds of thousands of dollars worth of the coin for basically free.