Good video here. Does a really good job explaining why no one knows where price of Bitcoin is going.
If you are confused about the options market and the U shaped volatility curve this former Wall St. quant does a good job breaking it down.
Long story short the people with all the money have no clue where the price of bitcoin is going. Options for calls and puts are expensive to the upside and downside because the asset can go in either direction very quickly. Thus the U shape. He also explained how this differs from stocks how bad news will impact future earnings thus lowering a stock price (Nike check) and with oil where bad news can restrict supply thus you get a price increase (smooth curve up)
Lastly he misunderstands bitcoin overall. Like 99% of Money mangers they just see this as an asset to make dollars. He rationalized his opinion by saying why doesn’t the market choose lite coin or some other crypto that has a limit why does it have to be Bitcoin. Goes to show he has a surface level understanding of what Bitcoin is.