The past Bitcoin hype in the western world and in south america (see plural.mx) and the bursting of the bubble at the end of 2017 are still unpleasantly remembered, as the first Bitcoin bulls are already betting money again on new, fantastic-looking highs of the best-known crypto currency. As the Wall Street Journal reports, warrants were recently traded on special trading venues in the USA and the Netherlands, where buyers bet on a rise in the Bitcoin price to 25,000 dollars or even 50,000 dollars. According to the report, such investments have not been made on the crypto market for a long time in view of the weak phase last year.
The background to the optimism of the investors in question is obviously the comeback of Bitcoin and other crypto currencies in 2019. According to the Coinmarketcap.com platform, a Bitcoin at the end of January still cost around 3500 dollars. Last week the price rose to more than 9000 dollars for the first time in a long time. The Cybergeld increased thus within fewer months again around more than 150 per cent. Last the Bitcoin noted however with scarcely 8000 dollar again somewhat weaker. Also many gamblers started to leave traditional casinos and only use anonymous BTC casinos – source bitrebels.com.
Nevertheless, the 2019 rally is apparently awakening memories among investors of the crypto hype of 2017. At that time, for example, the Bitcoin started the year at a level of around 1000 dollars and rose to close to 20,000 dollars by December. However, the crypto market then plummeted for the entire year 2018.
According to the Wall Street Journal, there are now at least some particularly bullish Bitcoin investors who are expecting a return to similar spheres as at the end of 2017 or even far beyond. The New York trading platform LedgerX, for example, is trading Bitcoin options for the first time in a long time with a strike price of 25,000 dollars, the newspaper quotes a spokeswoman for the platform. These options therefore only bring their buyers money if the Bitcoin price actually rises to the level in question within a certain period of time.
But that’s not all
At the end of May, a trader even bet around 4500 dollars that the Bitcoin would rise to 50,000 dollars or more by June 2020, according to the “WSJ“. If this astronomical Bitcoin price does not materialize in the period mentioned, the investor loses his entire investment. In addition, the Wall Street Journal reports about another investor who placed a similar bet on the Bitcoin stock market chart at a strike price of 36,000 dollars on a stock exchange in Amsterdam.
However, warrant bets such as these also existed during the past Bitcoin boom. At the end of 2017, for example, the US crypto investor Ari Paul also bet a million dollars on LedgerX according to “WSJ” that the price of Bitcoin would rise to 50,000 dollars. This bet did not work out – the warrants expired and Paul lost his entire stake.