Bitcoin Predictions Heat Up: Will It Reach $115K or Drop to $95K First?

Overview of Market Sentiment

Recent surveys reveal that many investors are optimistic about Bitcoin’s trajectory, with most believing it will achieve $115,000 before retreating to $95,000. Additionally, it appears that Michael Saylor and his firm, Strategy, will likely hold onto their Bitcoin assets until at least the end of 2025. Meanwhile, there’s a divided view on the future of the Pudgy Penguins’ PENGU token, with predictions uncertain about its potential entry into the top 100 cryptocurrencies by market capitalization on June 29.

Explore Prediction Markets

For those eager to put their market insights to the test, platforms like Myriad are gaining traction. These prediction markets allow users to forecast outcomes of ongoing events, enabling real-time trading as market odds shift.

Although the popularity of prediction markets skyrocketed during the recent U.S. elections, platforms like Myriad have widened their scope, offering betting opportunities on various topics such as sports, cryptocurrency, and pop culture. This week, we highlight some notable markets available to Myriad users after its recent Season 2 relaunch.

Bitcoin’s Price Prediction: $115K or $95K?

Market Open: June 18
Market Close: December 31
Volume: $1.73K

Bitcoin has experienced volatility over recent months, especially after reaching a historic price peak shortly after Donald Trump’s election victory. Following this surge, Bitcoin experienced a significant dip, falling below $75,000 by April. However, it rebounded strongly, hitting an all-time high of $111,814 in late May and currently trading above $103,000.

Looking ahead, Myriad is hosting a market asking participants to wager on whether Bitcoin will rise to $115,000 or drop back to $95,000—a question hovering around a $12,000 gap from its recent trading figures. Currently, the majority sentiment leans towards the bullish side, with odds favoring a rise to $115,000 at approximately 51%, reflecting a recent uptick.

Despite geopolitical tensions, particularly between Iran and Israel, which have weighed on market sentiment, many predictors remain confident.

Next Steps: Donald Trump is poised to make a decision regarding U.S. intervention in the Iran conflict soon, which could significantly influence market dynamics.

Will Strategy Sell Bitcoin Before 2025?

Market Open: June 18
Market Close: December 31
Volume: $3.28K

Michael Saylor, head of Strategy, has famously stated the firm aims to "buy the top forever", implying a continued accumulation of Bitcoin, which has pushed their treasury to approximately $61 billion. However, this raises questions: will they sell any holdings by the end of 2025? Current market evaluations suggest skepticism, with only a 17% chance that Strategy will part with any Bitcoin by the stipulated deadline.

Historically, Strategy has sold Bitcoin only once. In December 2022, the firm liquidated 704 Bitcoin, garnering around $11.8 million for tax benefits. While the firm continues to expand its Bitcoin inventory, holding nearly 600,000 tokens, one wonders if unfavorable market conditions might prompt another sale for tax advantages.

Next Steps: Strategy typically announces its Bitcoin transactions at the start of the week.

PENGU Token: Top 100 Cryptocurrencies by June 29?

Market Open: June 18
Market Close: June 27
Volume: $3.43K

Pudgy Penguins has rapidly grown into a prominent NFT project, launching its own token—PENGU—while entering major retail spaces such as Walmart and Walgreens. The community is currently weighing in on whether PENGU will secure a position within the top 100 cryptocurrencies by market cap on June 29, according to rankings from CoinMarketCap.

As it stands, PENGU is just on the verge of the top 100 at rank 101, with a market cap of under $590 million, trailing the 100th position by merely $9 million. Despite this minor proximity, sentiment trends toward skepticism, predicting only a 46% chance PENGU will make the cut when the ranking snapshot is taken, especially given its recent downturn of around 4%.

Next Steps: This market will conclude just two days prior to the snapshot date.

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