Bitcoin’s Chances of Reaching $100,000 in November Plummet on Polymarket Betting Platform
Bitcoin’s $100,000 Milestone
Long Odds on Polymarket
Recent data shows that the odds of Bitcoin hitting $100,000 this November have dropped significantly on the popular betting platform Polymarket, now standing at 42% compared to 90% just three days prior.
Record High and Correction
Bitcoin came close to the coveted $100,000 mark with a record high of $99,645 before experiencing a minor pullback, currently trading around $96,000 after briefly dipping to $94,824.
Market Sentiment
Novogratz’s Optimism
Despite the recent correction, Galaxy Digital CEO remains optimistic about Bitcoin reclaiming $100,000, calling it “inevitable” during a recent CNBC interview. The CEO had previously predicted reaching this milestone by 2024.
Market Predictions
Polymarket now indicates a 25% chance of Bitcoin surpassing $100,000 by November 29, with year-end odds dropping from 95% to 79%. Novogratz believes that corrections are normal and does not foresee Bitcoin dropping below $80,000.
Expert Insights
The Significance of $100,000
Former fund manager Aksel Kibar questions the importance of the $100,000 price level, suggesting it holds more symbolic value for celebrations rather than technical significance.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
