Bitcoin’s (BTC) bullish momentum will likely remain intact heading into the end of the year, lifting prices to the $40,000 mark, according to Markus Thielen, research head at crypto services provider Matrixport and founder of analytics portal DeFi Research. “Bitcoin will reach $40,000 – if not even $45,000 – by the year’s end,” Thielen said in a note shared with CoinDesk, citing options market positioning and dovish Federal Reserve expectations as catalysts for continued price gains. The cryptocurrency has more than doubled this year, with prices rising nearly 40% in the past four weeks alone. The recent bullish action spurred demand for call options, or derivatives giving the purchaser the right to snap up the underlying asset at a predetermined price later.

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Author: Lyllah Ledesma, Omkar Godbole

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