Part 6/12:
Interestingly, the current options market reflects strong bullish sentiment. The put-call ratio stands at 0.39, indicating that the majority of traders are betting on higher prices. Based on options data, some projections estimate Bitcoin could reach or surpass $106,000 by September 2024, with the potential of hitting $120,000 or more—though September has historically been a weaker month, the current bid-driven market may defy those seasonal tendencies.
The "Holy Trinity" and Regulatory Developments
A major development involves what industry insiders call the return of the "Holy Trinity" for Bitcoin's future growth:
The approval of a spot Bitcoin ETF,
The establishment of fair value accounting standards from the Financial Accounting Standards Board,