- An individual share for “yes” on whether bitcoin would break $100,000 this year cost $0.32 as of 7:00 a.m. ET on November 11.
- By 2:35 p.m. ET, the identical share had increased 78% to $0.57.
- Around 1:30 p.m. ET on November 11, Bitcoin hit a new high of $85,000.
Following the token’s breach of a new all-time high, the Polymarket prediction market on whether bitcoin would cross $100,000 this year exploded.
An individual share for “yes” in that prediction market was worth $0.32 as of 7:00 a.m. ET on November 11. By 2:35 p.m. ET the same day, the identical share had increased 78% to $0.57. With a 57% chance of happening, wagers on whether bitcoin will break $100,000 in 2024 totaled more than $2.6 million in trade activity.
Bitcoin broke the $85,000 barrier at 1:30 p.m. ET on November 11 and rose 8.1% in the last day to trade at $86,512 as of 2:44 p.m. ET. According to the cryptocurrency liquidations tracker Coinglass, the cryptocurrency experienced $193.17 million in liquidations over the same period that it saw $88.4 billion in trading volume.
Shayne Coplan is the founder and CEO of Polymarket, a decentralized prediction platform. Forecasts predicated on the 2024 U.S. presidential election between Donald Trump and Kamala Harris contributed significantly to Polymarket’s $6.01 billion cumulative volume as of November 11.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
