How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks
As bitcoin rallied from $13,400 to over $19,000, a trader who bought the $36,000-strike January expiry call saw a paper profit of more than $4 million.
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CoinTelegraph spoke with Damian Cišek, the CEO of BitPlutos, the first binary options platform for Bitcoin, about what binary options can bring to Bitcoin, how it compares to forex trading and whether they can help the industry grow in the digital world. The trading of binary options is essentially predicting whether an asset price will go UP or DOWN over a period of time. A trader purchases an option and if the trader predicted the move correctly at the end of the option period, it generates approximately 70-80% return on the trader's investment. If the trader was wrong, the investor....
A new service for financial options has launched a beta website for nine different binary options, including gold, silver and crude oil, plus six foreign exchange pairs. The offered currencies - euros, Australian dollars, New Zealand dollars, British pounds, yen, and Swiss francs - are all paired with the US dollar. Different than previous binary option offerings, the new service - which is called UpDown - processes payments and payouts in bitcoin only. With binary options, the trader selects the direction that the price of the underlying asset will move - either up ('call option') or down....
For traders who work with binary options, there is a new investment opportunity available that many savvy investors are looking into. With the popularity of binary options on the rise paired with the popularity of bitcoins becoming a popular form of currency, it was really just a matter of time before the two paired up. Several new and some of the old top rated binary options brokers have started to allow traders to use bitcoins for investment. Some of the new binary options trading sites are now only allowing payments and payouts with bitcoins. Binary options trading involve traders....
A trader, on popular Bitcoin trading platform PrimeXBT, recently had a successful run that netted him a total return of over 1,800%. However, where it becomes interesting is that through copy-trading, followers of the trader — Satoshi Bets — managed to profit from his successful run by turning $400,000 into $8 million in a matter […]
Bitcoin is short-term bearish, traders say, as the options market hints at consolidation. A pseudonymous trader known as “Byzantine General” is short-term bearish as Bitcoin (BTC) continues to test the same $30,000 support area.Although the price of Bitcoin is staying above a key support level, the trader said the price action is not bullish. He wrote:“In the midst of all this chaos, here's a bitcoin chart. Not much to do. It's bearish no matter how you look at it. But we're sitting on support, so no swing short opportunity either... It's just waiting now. > YO needs to hold.”"Options....