Update (1245ET): Bitcoin made a new all-time high at $19,511 in Dec 2017, then in Dec 2020 it broke out to a new record high, jumping 23% in 2 days (and accelerating 115% to just below $42k in January 2021 before sliding back).

In early February 2021, Bitcoin retook its January record high and accelerated over 25% in 2 days before extending gains to 44% by late Feb before pulling back.

On March 13th, BTC broke out to a new record high and jumped over 8% that day.

On April 13th, BTC broke to another record high and accelerated almost 9% in 2 days.

"Options are huge in this case," said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

"Retail-YOLO types will be able to trade calls on Bitcoin for the first time in regulated financial markets. Institutions can use puts to hedge or go short Bitcoin."