Polymarket users bet on Bitcoin falling below $80,000… 'Year-end $200,000 prediction' grows distant

Uk Jin

Summary

Polymarket stated that the probability of Bitcoin falling below $80,000 in November reaches 56%.
Bitcoin briefly plunged more than 10%, with $1 billion in positions liquidated in the futures market.
Polymarket reports that the chance of surpassing $200,000 is assessed at less than 1%.

The downtrend of Bitcoin (BTC), which had been expected to reach $200,000 by year-end, is deepening. On overseas decentralized prediction markets, it appears that the probability that Bitcoin will fall below $80,000 in November reaches 56%.

On the 21st (Korea time), according to Polymarket, overseas bettors see the probability that Bitcoin's price will fall below $80,000 in November at 56%.

That day Bitcoin at one point during trading recorded $82,000, down more than 10% from the previous day. As the price plunged in an instant, a total of $1 billion in positions were liquidated in the futures market over the past four hours.

In Polymarket's prediction, the probability that Bitcoin will exceed $200,000 is registering under 1%. Previously, industry experts such as Arthur Hayes and Standard Chartered had predicted that Bitcoin would reach $2 billion by the end of the year, but currently overseas bettors view the possibility of Bitcoin breaking through $200,000 within the year as very low.

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