As the price of Bitcoin continues to rise, blockchain-based forecasting platform Polymarket predicts a 62% chance that Bitcoin will reach $100,000 by the end of 2024. This prediction comes as trading volume on Polymarket exceeds $2.6 million due to bets on Bitcoin reaching $90,000. CNBC analyst also predicts a Bitcoin price of $100,000 by the end of the year.
Polymarket, which gained popularity due to its predictions related to the 2024 US presidential election, has a total trading volume of 6.01 billion dollars. However, the platform is facing regulatory scrutiny in France and has been investigated for compliance with local gambling laws. Despite this, Bitcoin saw inflows of over $1 billion in spot Bitcoin ETFs, driven mainly by institutional investors.
