CEO Says Crypto Derivatives Inevitable, Will Bitcoin (BTC) Pump?

Dalmas Ngetich

1 year ago

2 mins read

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Bitcoin prices steady but under pressure
Crypto derivative is inevitable
Transaction volumes low after Feb 24 blips

In an uptrend, the latest Bitcoin (BTC) drawdown should be an opportunity for entry now that market leaders are expressing their optimism. As long as Bitcoin (BTC) is trading above $3,800-a-ccording to data streams from BitFinex, buyers are in charge and could retest $4,500 in coming days.

Bitcoin Price Analysis

Fundamentals

It is satisfying to know that institutions are finally bending over trying to benefit from cryptocurrencies and blockchain projects.

Blockchain promises to be revolutionary, shaping if not disruptive for traditional set-ups engaged in rigid finance. One of the very first applications was Bitcoin, and the censorship-resistant currency which is slowly moving towards global dominance.

As institutions flow, there will be investments in the network’s infrastructure. In response, the hallway towards crypto asset derivatives will be ready. That’s exactly the thoughts of Fran Strajnar, the CEO of Brave News Coin and the firm whose Bitcoin and Ethereum Indices were integrated and broadcasted at NASDAQ:

“The crypto derivative wave is inevitable. Once custody was solved, first with Fidelity’s announcements last November, and now with indices that align with IOSCO principles being available through the NASDAQ, there’s going to be a rush to produce all manner of financial instruments, which the institutional users have been asking for, for almost three years now.”

Candlestick Arrangements

These high net-worth individuals maybe flowing in but Bitcoin (BTC) is unmoved—at least in the short-term. Down 2.4 percent in the last week but stable in the previous 24 hours, buyers are trying to wrestle control from relentless sellers.

From the chart, it appears as if sellers have the upper hand. It is mainly thanks to the conspicuous bear bar of Feb 24. All the same, we are net bullish and expect buyers to bounce off $3,800 and rally to $4,500. That will be in line with the demand of Feb 18.

It is after a decisive breakout above $4,500 that conservative traders can buy on pull-back with first targets at $5,800 and $6,000.

Technical Indicators

Even though our anchor bar is the high-volume bar of Feb 18, we cannot dismiss the liquidation of Feb 24. It had high participation levels—36k just short of Feb 18 volumes. Prices are inside Feb 24 high low and is an opportunity for bulls to capitalize on this dip. However, buyers will be in control once there is a total reversal of Feb 24 losses.

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.