Latest Bets on Polymarket: What Has the Cryptocurrency Market Most Excited?
Polymarket's bets on Bitcoin reaching $100,000 this year are down.
Polymarket's bets on Bitcoin reaching $100,000 this year have fallen.
The Price of Bitcoin
What predictions did users of the cryptocurrency betting service make about events in the world of digital assets? According to participants in cryptocurrency predictions on the Polymarket platform, the probability of Bitcoin reaching $100,000 in November is 21 per cent. A week ago, users of the service were estimating the chances of this happening at 79%, but there are two days left until the end of the month and Bitcoin's price is hovering around $95,000.
Although Polymarket participants have lowered their expectations that Bitcoin will reach $100,000 in November, they believe that the first cryptocurrency could surpass this threshold by the end of the year with a 75% probability. A week ago, the odds of this event were estimated at 90%.
Another pool, popular with participants in the service, offers the chance to bet on the probability of Ethereum reaching a new all-time high this year. Users of the service estimate the chances of such a milestone for the altcoin at 25%.
Resistence
On the night of November 28, Ethereum updated its highest in six months to $3.68 thousand. The coin had reached a record price in November 2021, touching $4.87 thousand, but is currently trading 25% lower.
Last week, the Polymarket service closed access to French citizens. Earlier, after a French trader made over $45 million from betting on cryptocurrencies, it was reported that the local gambling regulator had begun examining the platform's activities. At the same time, the US FBI conducted a search at the site's administrator, Shane Coplan, confiscating his phone and other devices.
Excitement of the Market for Cryptocurrencies
Bitcoin towards 100k
Recent speculation has focused on bets related to significant events in the cryptocurrency market, including the approval of an ETF on Bitcoin in the US, Ethereum's price movements after a merger, and the influence of international economic variables on cryptocurrency adoption. Because they represent important moments for the blockchain ecosystem and reflect collective expectations, these high-risk bets have attracted a lot of attention.
One of the most popular markets is the idea of the US Securities and Exchange Commission (SEC) approving an ETF on Bitcoin on a spot basis. Most bettors on Polymarket are optimistic, predicting legalisation by mid-2024, which could attract institutional capital and strengthen Bitcoin's reputation.
Why Polymarket is Important
Polymarket is a reliable indicator of sentiment on cryptocurrencies due to its decentralised structure, which ensures transparency and confidence in its predictions. According to activity on the platform, users are betting that Ethereum's Layer-2 solutions, such as Arbitrum and Optimism, will outperform their competitors in 2024 in terms of adoption rates.
MicroStrategy could continue to buy Bitcoin thanks to new investments in MSTR shares and if the price of the main cryptocurrency continues to be positive.
Polymarket's bets on Bitcoin reaching $100,000 this year have fallen.
What predictions did users of the cryptocurrency betting service make about events in the world of digital assets? According to participants in cryptocurrency predictions on the Polymarket platform, the probability of Bitcoin reaching $100,000 in November is 21 per cent. A week ago, users of the service were estimating the chances of this happening at 79%, but there are two days left until the end of the month and Bitcoin's price is hovering around $95,000.
Although Polymarket participants have lowered their expectations that Bitcoin will reach $100,000 in November, they believe that the first cryptocurrency could surpass this threshold by the end of the year with a 75% probability. A week ago, the odds of this event were estimated at 90%.
Another pool, popular with participants in the service, offers the chance to bet on the probability of Ethereum reaching a new all-time high this year. Users of the service estimate the chances of such a milestone for the altcoin at 25%.
On the night of November 28, Ethereum updated its highest in six months to $3.68 thousand. The coin had reached a record price in November 2021, touching $4.87 thousand, but is currently trading 25% lower.
Last week, the Polymarket service closed access to French citizens. Earlier, after a French trader made over $45 million from betting on cryptocurrencies, it was reported that the local gambling regulator had begun examining the platform's activities. At the same time, the US FBI conducted a search at the site's administrator, Shane Coplan, confiscating his phone and other devices.
Excitement of the Market for Cryptocurrencies
Recent speculation has focused on bets related to significant events in the cryptocurrency market, including the approval of an ETF on Bitcoin in the US, Ethereum's price movements after a merger, and the influence of international economic variables on cryptocurrency adoption. Because they represent important moments for the blockchain ecosystem and reflect collective expectations, these high-risk bets have attracted a lot of attention.
One of the most popular markets is the idea of the US Securities and Exchange Commission (SEC) approving an ETF on Bitcoin on a spot basis. Most bettors on Polymarket are optimistic, predicting legalisation by mid-2024, which could attract institutional capital and strengthen Bitcoin's reputation.
Why Polymarket is Important
Polymarket is a reliable indicator of sentiment on cryptocurrencies due to its decentralised structure, which ensures transparency and confidence in its predictions. According to activity on the platform, users are betting that Ethereum's Layer-2 solutions, such as Arbitrum and Optimism, will outperform their competitors in 2024 in terms of adoption rates.
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