The host of InvestAnswers, who wishes to remain anonymous, has recently shared some optimistic price targets for Bitcoin (BTC) and Ethereum (ETH) in a new video. With a subscriber base of 445,000 on YouTube, the host revealed that he believes Bitcoin may reach $42,000 by April 2024.
New crypto prediction is out
This prediction is largely based on the options market, with InvestAnswers noting that the demand for Bitcoin’s call options is currently higher than that of put options, suggesting a bullish trend.
Call options are contracts that give the holder the right to buy an underlying asset at a specific price on or before a specific date while put options give the holder the right to sell an underlying asset at a specific price on or before a specific date.
“December 29, 2023 – and you can see here a huge amount of action at the $45,000 level…
One thing I do want to cast your eye on is to put-call ratio – 0.39. So a lot more calls are being bought than puts, which is very bullish.”
He continued and said the following:
“But look at the amount of price action even there at $45,000, $44,000, $43,000, etc.
I said many times before I would not be surprised if we saw $42,000 by April 2024 at the time of the halving. According to the [chart below], we could be there by Christmas – $45,000+. Again if these options actions’ players are correct…”
Privacy concerns about CBDCs
According to John Reed Stark, a former SEC official, the idea of a central bank digital currency (CBDC) is the most ridiculous financial concept in the history of monetary policy.
He argues that this currency is unnecessary since there are already reliable digital currencies that are regulated by government authorities and US-registered financial institutions. Therefore, the CBDC does not address any existing problems.
He says what the digital dollar would actually do is give rise to policy issues.
“The risks of a CBDC remain myriad and raise a variety of important policy questions, including how a CIBC might affect financial-sector market structure, the cost and availability of credit, the safety and stability of the financial system and the efficacy of monetary policy.”
