-
There are high bullish expectations for Bitcoin in this market cycle.
-
BTC set new all-time highs today, Monday, November 11.
On the decentralized betting platform Polymarket, bets on the future price of bitcoin (BTC) are gaining more and more relevance. Currently, three markets related to the price of BTC have accumulated almost $13 million in bets.
The first of these bets, titled “What price will bitcoin reach in November?”, is the one that has generated the most interest, adding up to now 8.16 million dollars in bets at the close of this report.
In this market, the most popular option is that bitcoin reach $85,000, with 96% of bets favoring it (it is worth clarifying that bitcoin is exceeding $85,000 right at the time of this publication).
Other price options include $87,500 at 84%, $90,000 at 64%, while lower options like $65,000 and $60,000 dollars have only 7% and 4% of bets, respectively.
This market will immediately resolve to “Yes” if any 1-minute candle on Binance for the BTCUSDT pair shows a final “High” price of $90,000 or more between November 1 and November 30, 2024. If not This value is reached, the market will resolve to “No”.
It is important to highlight that only the price data of the BTCUSDT pair on Binance They will be considered for the resolution of this market, according to the betting policies.
More than 8 million dollars have been invested in this bet. Source: Polymarket.
The second other bet in question, “Will Bitcoin reach $100,000 in 2024?”, has accumulated so far 2.6 million dollars. This bet is simply divided into “Yes” or “No” options, with the “Yes” option currently leading with 50% of the bets.
For this bet to resolve to “Yes”, any Coinbase 1-minute candle for the BTCUSD pair between January 1 and December 31, 2024 must occur reach a “High” final price of $100,000 or more. Otherwise, it will be resolved as “No”.
Almost 3 million dollars have been invested in this bet. Source: Polymarket.
The third bet, titled “Will Bitcoin reach $250,000 in 2024?” so far it has accumulated 1.7 million dollars. In this, the options are divided between “Yes” and “No”, the first being the most voted so far.
For this bet, the market will resolve to “Yes”, if BTC reaches a price of USD 250,000 or more according to Binance before December 31, 2024 at 11:59 pm ET. Otherwise, it will be resolved to “No”.
More than 1.7 million have been invested in this bet. Source: Polymarket.
It should be noted that, at the moment, these three bets are the ones that have seen the most money coming in and that such behavior had not been seen on the Polymarket platform related to BTC price speculation as in these days, when the currency began its bullish rally.
Between the three bets, more than 12 million dollars have been invested. Source: Polymarket.
Polymarket has proven to be a relevant tool for betting on real-life events, not only in the financial field, but also in political events.
Recently, during the US presidential election, the platform recorded total bets of approximately 3.6 billion dollarsas reported by CriptoNoticias.
Bets on the price of bitcoin not only reflect market expectations, but also offer a collective view on the future potential of the world’s most important digital currency.
This article was created using artificial intelligence and edited by a human Editor.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
