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Bitcoin headed for $20,000 in six months, reality?

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Despite the sluggish start to the week, sentiment keeps high. The CEO of Atlas Quantum, one of Brazil’s largest crypto trading platforms, Rodrigo Marques, said in an email to MarketWatch that the move under $8,000 was an extremely low price for bitcoin, adding that he expects bitcoin to reach $20,000 in 6 months, these levels it hasn’t approached since December 2017 but with bullish market we can see this price soon than we expect.

Bitcoin, the world’s biggest digital currency on Monday, traded higher, punching above 8,500 USD in early action. However, the digital-currency market more broadly wasn’t faring as well, with most virtual assets kicking off the week in decline.

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After reaching a weekend high of $8,578.39, bitcoin has retreated and a single bitcoin BTCUSD, -1.80% was last worth $8,458.41, down 1.1% since Sunday’s levels at 5 p.m. Eastern Time on the Kraken exchange.

We have positive news for bitcoin adopters, futures trading showed most investors aren’t giving up on the No. 1 digital crypto currency. “We saw many traders roll out from May to June over the past few days,” wrote Peter Lusk, senior instructor at the Cboe Global Markets Inc. “Rolling futures to a further-dated contract is typical when near-term futures move toward expiration.”

Holders of bitcoin futures could have opted to exit their position and settle.

 

 

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