Bitcoin’s recovery from the Monday dip is gathering strength, as the options market pricing hits a double-digit chance of a rate above $50,000 by the end of January.
The first cryptocurrency that is also a leader by market value is, as of writing this article, trading at $39,022, representing a nearly $5,000 or 14% gain on a 24-hour basis.
The rebounding of the price has erased a significant part of the losses observed at the beginning of the week. Bitcoin dipped from $41,000 to $30,325 on Monday amid heavy selling on the spot market, especially on the U.S.-based exchange Coinbase.
Despite the speedy recovery, the cryptocurrency is still a bit off from the record high of $41,962 marked on January 8.
Options market data indicates investors are betting on a continuing market rally and are forecasting a 20% probability of BTC rising above $50,000 by the end of the month, according to data shared by the crypto derivatives research company Skew.
