Phew, we survived the $6 Billion BTC Options Expiration, now we go up
The $6 Billion worth of BTC Options expired today, and bitcoin didn't die
There had been a lot of FUD going around about how bitcoin was going to get killed going into the massive record setting options expiration that we just went through.
Well, the expiration happened, and bitcoin barely blinked.
This is pretty much what I had expected, but others were hoping for a little more bloodshed apparently:
(Source: https://twitter.com/scottmelker/status/1375485306829471750)
While the expiration itself was a big nothing burger, the price action into the expiration was terrible and got bitcoin as low as $50k.
As I mentioned earlier though, that was very likely the bottom and bitcoin should go up from here.
It has a tendency to bottom around these options expirations and then rally for the following several weeks:
(Source: https://steemit.com/hive-148441/@jondoe/the-bottom-in-btc-and-steem-is-in-giddy-up)
That chart pretty much says it all...
BTC ready to rip and STEEM ready to rock.
Options expired and bitcoin head up, like clockwork.
Looks like we should keep going up for the next 2 weeks.
It will be a struggle once we get to the end of the month tho.
Amazing @jondoe we both hope that Steem will soar, and someday there will be a beautiful month there, greetings of success
thanks for the information friend @jondoe, steem will continue to grow.