On Polymarket, the biggest prediction market, 45% (-5%) of people are confident that BTC can easily hit the target of $100,000 by November end. The bet entitled “Will Bitcoin hit $100k in November?” is currently holding $789,420 in volume.
Polymarket’s Play on Bitcoin
The euphoria and confidence in the market are abnormally high after Trump’s victory in the presidential election of 2024, attracting larger institutional participation. At the time of publication, BTC is currently hovering around $89,454.41, with $1.77 trillion locked in market capitalization, making it the 8th largest asset in the world.
In another prediction poll named “What price will Bitcoin hit in November?”, 73% of participants think Bitcoin could touch $95,000 in November, while 30% believe it will cross the $100K mark and reach $105,000.
Not just on the prediction market, but prominent BTC investor Michael Saylor, owner of MicroStrategy, is also confident about BTC’s future and vowed to throw a party if it surpasses the $100,000 mark.
Last week, BTC shot up exponentially, creating a new all-time high on the mark of $92,712. In the span of the last 7 days, 1 month, and a year, BTC has surged 17.84%, 34.08%, and 149.81% respectively.
During every bull cycle, BTC passes through different phases, starting from a sharp spike in the initial phase, a cooling-off period, and a final retracement with a new hike in BTC price. However, crypto experts are expecting the current bull run to be the biggest blue sky breakout in BTC history.
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