Less than a month remains to third halving of the oldest cryptocurrency
Even though investors have long awaited the date and hoped it would serve as an impulse to grow, the current trading signals don’t bring much optimism.
Bitcoin enthusiasts look forward to halving as to the Olympics. Roughly every four years, the so called halving takes place, which means bitcoin mining slowdown to its half. If demand for cryptocurrency remains the same, lower offer could enable bitcoin price grow.
Yet, situation on bitcoin derivatives market is to be blamed. There has been growing number of traders, who purchased so called put option, that is a right to sell assets on a concrete date. Shares of put option has grown to 61% in the beginning of the week, that is the highest since the end of February. Remaining 39% belong to call option.
Such a progress indicates bearish market sentiment. Some investors fear that halving will not necessarily lead to bitcoin price growth and they try to purchase put option to secure themselves. Bitcoin halving is now planned on 12th May. Over 18 million bitcoins have been mined from the overall amount of 21 million.
