Bitcoin Trading near all-time highs, Kalshi users are betting the cryptocurrency could reach $100,000 by the end of 2024.
karsh data Data on Tuesday showed that 60% of users are betting that Bitcoin could break the $100,000 mark by January. Additionally, 45% of users are betting that the flagship cryptocurrency could reach November levels.
Kalshi is an event contract market Launching in 2021offering users a way to bet on the outcome of events such as economic data releases and election results. The platform has been in the spotlight this year for its legal battle with the Commodity Futures Trading Commission, which resulted in Betting markets for presidential elections It was made available to US users ahead of last week’s vote.
Since the U.S. presidential election on November 5, digital currencies have risen by more than 28%. express support For the industry, this includes implementing more favorable regulations.
Prediction markets were volatile before the election, but overall they were more optimistic about Trump than traditional polls. However, odds and betting platforms do not use the methods used by traditional political polls and therefore cannot replace political polls.
Bitcoin last traded around $89,000 on Tuesday Increased by more than 10% It fell to just under $90,000 on Monday, according to Coin Metrics.
BTC 1 Million Chart
“Strong positive sentiment is likely to continue into 2024, and (we) expect Bitcoin prices to potentially reach the six-digit mark by the end of the year,” said HC Wainwright analyst Mike Colonnese. “Trump officially announced in the early hours of last Wednesday After winning the election, Bitcoin broke out to new all-time highs and is now in price discovery mode.”
—CNBC’s Tanaya Macheel contributed to this report.
