CandleFocus

Odds of Bitcoin Hitting $100,000 Collapse

Author: Content Editor
The likelihood of Bitcoin reaching $100,000 by November has dropped to 42% on Polymarket, a crypto betting platform. This is a significant decrease from the 90% chance just three days ago. Bitcoin recently reached a record high of $99,645 but experienced a minor correction. It briefly dropped to $94,824 before recovering to around $96,000. Galaxy Digital CEO Mike Novogratz previously stated that Bitcoin reclaiming $100,000 was "inevitable," but the recent correction has led to reduced odds. Bettors now see a 25% chance of Bitcoin trading above $100,000 on November 29, and the odds of reaching six figures by the end of the year have dropped from 95% to 79%. Novogratz believes that market corrections are inevitable but does not think Bitcoin will drop below $80,000. Some argue that the $100,000 price mark is not significant technically or psychologically.

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