Deribit Commercial Officer Luuk Strijers predicts Bitcoin growth in the coming spring

Glassnode analysts concluded that since the beginning of 2023, the value of Bitcoin has increased by more than 140%. This is twice as much as gold.

Experts state that BTC still dominates the crypto industry. At the same time, Ethereum has risen in price by almost 80% since the beginning of the year.

The experts explained that despite the rise in quotes and significant paper profits for investors, the situation remains largely within the framework of the early rather than late stages of a bull market.

And Deribit Commercial Officer Luuk Strijers believes that futures performance for the first crypto coin has a “supportive sign” for further growth of Bitcoin in the coming spring.

The analyst believes that futures premiums for contracts expiring in March, June and September have continued to rise since mid-fall. Now the basis, that is, the discrepancy between the spot and futures prices, exceeds this figure of 10%.

“When the basis is increasing, it suggests that the market expects the spot price to rise. The annualized basis is now 10–12%, which means the market expects the underlying asset to rise 10–12% in the coming year,” added Strijers.

The expert pointed to a decrease in concerns after the settlement of issues related to the Binance crypto exchange. He also noted such positive factors for the market as falling inflation and cooperation between institutions.

BTCM Chief Economist Youwei Yang opined that the $45,000 mark will be the next critical resistance level for the main cryptocurrency, predicting a short squeeze scenario after this border.

Are you also optimistic about the movement of the first digital coin?