Bitcoin has yet to hit $100,000. The cryptocurrency traded lower Monday afternoon after prices rose more than 40% over the last month. Traders shouldn’t panic, though, Explosive Options technical analyst Bob Lang tells Yahoo Finance. Lang describes a bit of a pullback as “constructive” for bitcoin (BTC-USD) prices, adding that it could represent an opportunity for prospective buyers to get in. “There’s a lot of people on the sidelines who are waiting for an opportunity to get into bitcoin and other cryptocurrencies. And this next pullback, whatever the size may be, it could be 5%, 10%, could be that one opportunity for people to get in.” He also says that the momentum from this rally is “incredible” and that bitcoin prices “could make a run much further than most people expect.”
Watch the video above to hear what Lang has to say about the growing bitcoin options market.
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This post was written by Stephanie Mikulich.
