Key Points
- Bitcoin traders betting on the cryptocurrency hitting $100,000 were liquidated on Polymarket.
- Market predictions suggest a 40% chance of Bitcoin falling to $90,000 again before reaching $100,000 by 2025.
Following a rally to an all-time high of $99,655 on November 22, Bitcoin (BTC) traders who bet on the cryptocurrency reaching $100,000 were liquidated on the market prediction platform, Polymarket.
The chances of Bitcoin breaking the $100,000 barrier increased to 91% at the time. However, the cryptocurrency soon faced correction, even hitting a local low of $90,800 on November 27.
Betting on Bitcoin
One trader, known as TomApproves, placed a $114,000 bet on Bitcoin reaching $100,000 in November on Polymarket. Another anonymous gambler lost almost $56,000 on the same bet as Bitcoin retraced. The total trading volume of the poll reached $28.5 million.
Data from Polymarket shows traders still hope for Bitcoin to reach $100,000 before 2025. According to a poll, there’s a 40% chance that the Bitcoin price would fall to the $90,000 zone again.
Bitcoin’s Future
Another poll with nearly $14 million in trading volume shows that the odds of Bitcoin breaching $100,000 this month increased from 19% to 71% over the last 30 days. Bitcoin surged to $98,150 early Monday and is trading at $96,700 at the time of writing. Its daily trading volume increased by 32%, reaching $42.4 billion.
Robert Kiyosaki, the author of “Rich Dad Poor Dad” and a long-time Bitcoin supporter, expects the Bitcoin price to plunge to $60,000 before hitting the $100,000 mark. Kiyosaki believes that Bitcoin could “settle” around $250,000 in 2025.