After successfully predicting the 2024 U.S. Presidential Election results, which saw Donald Trump winning, Polymarket now asks, “What price will Bitcoin (BTC) hit in November?” Currently, 74% of bets are on Bitcoin reaching $95,000 in November, 37% are on BTC at $105,000, and 95% are betting on a safe $90,000.
Bitcoin has had quite a ride today. In the early hours, BTC reached $86,000 and climbed to $89,000, only to dip to $88,000 before settling around the $89,000 mark. It is currently trading at $89,932, after a 10.97% surge in the past day, suggesting Bitcoin may hit $90K sooner rather than later.
At the time of writing, market prediction platform Polymarket’s big question “What price will Bitcoin hit in November?” has reached a market volume of an impressive 12,862,600. The popularity of this question is underlined by the fact that its U.S. 2024 election bets reached a volume of $3.2 billion.
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With a market cap exceeding $1.77 trillion and nearing $2 trillion, Bitcoin has reached an all-time high of $89K, surpassing silver. If the rally continues, it could even surpass Saudi Aramco, the petroleum and refineries giant.
This surge has not only been a win for investors but has also sparked a rivalry among countries looking to go big on their Bitcoin holdings. While the Trump administration considers a Bitcoin National Reserve, smaller countries like Bhutan are not far behind. A recent report revealed that the Royal Government of Bhutan holds $1 billion worth of BTC, now valued at $1.13 billion.
All in all, even as bets on BTC’s potential market price continue, Bitcoin hodlers are already “on the moon”!
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Also Read: Amid Bitcoin’s Bullish Trend, Traders Ask Why $XRP Isn’t Surging
