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Categories: Bitcoin
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April 1, 2021

Crypto Trader Ben Armstrong Doubles Down on Bitcoin Prediction – Here’s How High He Believes BTC Will Go

By Daily Hodl Staff

Crypto trader Ben Armstrong says that the price of Bitcoin (BTC) will soon break out to the six-digit zone.

The host of BitBoy Crypto tells his 733,000 YouTube subscribers that he’s tracking derivatives traders, who are now reportedly betting on $100,000 and $300,000 Bitcoin call options, with 6,700 contracts worth $385 million to date.

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“Think about this guys, the $100,000 call options [are] currently trading at 0.164 BTC, equivalent to about $9,500. They’re paying $9,500 to take that option.  

That’s a giant premium. If you’re going to bet on that, you have a lot of confidence the price is going to be rising.”

Armstrong says another bear market will come, but BTC has a long way to go first.

“I am very confident. I’m very confident that Bitcoin’s going to hit $300,000 this year, very confident. Some people will say it’s got to take longer than that. No, it’s this year.

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We’ll be at a bear market by next year. Seeing the $300,000 call option here, it doesn’t surprise me. I think a lot of people are betting on this.” 

Armstrong has previously said that Bitcoin will hit $322,000 in 2021. He says that his prediction still stands.

“You can bet your bottom dollar this thing is going over $300,000. I’m telling you $300,000. I don’t think it will go over $400,000. I think our $322,000 prediction for this year is going to end up being pretty accurate.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ alphaspirit.it

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