Bitcoin’s (BTC) Chances of Hitting $20k by End of 2022 Increases by 2%

Summary:

The chance of Bitcoin hitting $20k or higher by the end of the year currently stands at 7%This is a 2% increment from the 5% probability witnessed back in late JuneBitcoin’s open interest on major exchanges such as Binance has seen a significant increment in the last 48 hoursBitcoin bull run is finally here with Paul Tudor Jones stating that he likes BTC even more

The probability of Bitcoin (BTC) hitting $20k or higher by the end of the year now currently stands at 7%. This value is 2% higher from the 5% chance of Bitcoin achieving a similar feat that was recorded back in late June. The increased probability of Bitcoin matching its all-time high set in 2017 was highlighted by the team at Skew via the following tweet.

#bitcoin probability > $20k at year-end repricing quickly, now 7% pic.twitter.com/jNm5t9QPbs

— skew (@skewdotcom) October 22, 2020

Bitcoin Future’s Open Interest Continues to Increase

Another Bitcoin metric worth highlighting is BTC’s open interest on Binance that has increased by $150 million in two days. This feat was captured yesterday by the team at Glassnode via the following tweet.

Open interest on #Binance increased by $150 million in the past 48 hours (+30%) and is currently sitting at $637 million.#Bitcoin

Live chart: https://t.co/3YHVhcFm59 pic.twitter.com/grxo0fCQtX

— glassnode (@glassnode) October 21, 2020

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