Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
The impact of the Bitcoin blockchain's reward halving on miners and the BTC price has been well documented over the years, leaving little room for a surprising outcome.In the run-up, implied volatility on the largest cryptocurrency by market value has ticked higher, suggesting increased price turbulence in the days surrounding the quadrennial event. Still, one observer does not favor placing bullish bets on volatility.
Traders typically place bullish bets on volatility ahead of binary events, for which the market outcome is uncertain. Moreover, uncertainty opens the door to pre- and post-event price turbulence and has "Not to mention that nearly all the big volatility events in crypto had disappointed IV , buyers when RV failed to materialize by very large margins," Magadini noted.
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