Can BTC Hit Six Digits? Exploring Bitcoin’s $100K Predictions With Kalshi and Polymarket Insights
As bitcoin (BTC) trades under the $96,000 mark at 1 p.m. ET on Monday, prediction markets Kalshi and Polymarket reveal mixed expectations for the cryptocurrency’s potential to reach $100,000 within the coming months and throughout 2024.
Analyzing $100K Betting Forecasts From Kalshi and Polymarket
Kalshi and Polymarket, two prominent prediction platforms, highlight varied confidence levels regarding bitcoin’s milestone of $100,000. On Kalshi, traders estimate a 37% probability of bitcoin exceeding $100,000 before Dec. 1, 2024, a figure that has slightly decreased recently. This translates to 36 cents per “yes” contract and 66 cents for “no.”
Kalshi odds at 1 p.m. Eastern Time on Monday, Nov. 25, 2024.
Looking further ahead, Kalshi gives bitcoin a 74% chance of reaching this mark before the end of 2024. Polymarket offers a more granular view. Traders there assign a 40% chance that bitcoin will surpass $100,000 in November 2024, reflecting a notable uptick of 9% in recent days.
Polymarket odds at 1 p.m. Eastern Time on Monday, Nov. 25, 2024.
The broader market sentiment, however, strengthens over the longer horizon, with 77% of participants confident bitcoin will achieve this price before the close of 2024.
Polymarket odds at 1 p.m. Eastern Time on Monday, Nov. 25, 2024.
The discrepancy in confidence for November versus the rest of the year underlines the uncertainty surrounding short-term market dynamics, despite strong bullish sentiment for 2024. These odds suggest that market participants are weighing factors like institutional adoption, macroeconomic developments, and the evolving bitcoin ecosystem.
As speculation continues, these markets provide insight into collective sentiment on whether bitcoin’s price trajectory can sustain its momentum. With significant volume backing both platforms—$9.3 million on Polymarket and over $1 million on Kalshi—the stakes are high for those betting on bitcoin’s next big move.
