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Bitcoin Options

Three reasons why Bitcoin’s dip below $56.5K could be the local bottom.

"Expect the unexpected" is the first rule of Bitcoin (BTC) trading. There have been five instances of 20 per cent or more daily gains in the last year, as well as five intraday 18 per cent drawdowns. Compared to recent peaks, the volatility over the last three months has been rather low. Traders new to Bitcoin, whether multibillion-dollar institutional fund managers or ordinary investors are often enthralled by a 19 per cent drop following a local top. Many people are even more surprised by the fact that the current $13,360 correction from the all-time high of $69,000 on November 10 took place over nine days. Liquidations were not triggered as a result of the negative move.Cryptocurrency traders are infamous for using huge leverage, and roughly...

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