Oddsmakers Give Bitcoin 44% Chance to Reach $100,000 This Year

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Oddsmakers Give Bitcoin 44% Chance to Reach $100,000 This Year
<a href="https://pixabay.com/users/MichaelWuensch/">MichaelWuensch</a> / Pixabay

Bookies Aren’t Confident in Dogecoin Being Worth More Than $1 At Year’s End

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Bitcoin To Reach A Price Of $100000 In 2021

Copenhagen – April 7, 2021 – Bitcoin currently has 5/4 odds (44.4% implied probability) to reach a price of $100000 in 2021, according to betting aggregators US-Bookies.com (See Disclaimer Below). The odds of Bitcoin reaching $200,000 are 16/1 (5.9%), suggesting that $100000 is a far more likely scenario.

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“Following Bitcoin's post-dip rally last week, the odds suggest the magic figure of $100,000 could again be within reach this year,” says a US-Bookies spokesperson. “In fact, bookies are slightly more confident in it reaching that mark than they were at the end of March, as they shortened the odds from 6/4 to 5/4 since then.”

Given the cryptocurrency’s volatility, bookies are also eyeing the chance Bitcoin’s price drops. It currently has 4/1 odds (20% implied probability) to fall to $10,000, and 250/1 odds (0.4%) to drop to $1,000. However, it also has 66/1 odds (1.5%) to reach $1 million, so it’s more likely to eclipse the million mark than it is to drop to $1,000.

Oddsmakers Are Also Watching Dogecoin Closely

Dogecoin is another cryptocurrency oddsmakers are watching closely. However, they are less confident in it than they are in Bitcoin, giving Dogecoin 33/1 odds (2.9% implied probability) to be worth more than $1 at the end of 2021. Its 16/1 odds (5.9%) to be worth less than 1 cent suggest a more likely scenario.

“With Dogecoin's rally having looked short lived, the betting now suggests it's more likely to slump back to a cent or lower than hit a dollar or more by the end of the year,” says a US-Bookies spokesperson. “In terms of what comes next for the meme-inspired crypto, don't rule out Elon Musk announcing it as Tesla's latest accepted form of payment.

Oddsmakers are currently placing 10/1 odds (9.1% implied probability) on Elon Musk allowing Teslas to be purchased with Dogecoin this year.

Odds that Bitcoin Reaches the Following Prices in 2021:

$100,000: 5/4

$200,000: 16/1

$1,000,000: 66/1

Fall to $10,000: 4/1

Fall to $1,000: 250/1

Dogecoin Odds:

To be worth more than $1 at end of 2021: 33/1

To be worth less than 1¢ at end of 2021: 16/1

To be worth more than Bitcoin at any point this year: 1000/1

Elon Musk to allow Tesla to be bought with Dogecoin this year: 10/1


Disclaimer: The odds posted in this article are for illustrative purposes only, as wagering on such props is not currently legal in any U.S. state. The data was based on betting markets offered by UK/European/worldwide operators regulated in jurisdictions where wagering on these props is legal.

About US-Bookies.com

US-Bookies.com is the first comprehensive betting web portal in the United States, developed by one of the world’s most successful iGaming companies with the goal of providing betting intelligence to gamblers. It is designed to be a single point of access for information on wagering, offering data, odds, and authorized legal online bookmakers. The site provides a library of data-driven content that offers intelligence, so visitors can make informed gaming decisions. US-Bookies.com represents the first foray into the United States for Better Collective, one of the premier online gaming companies in Europe. Better Collective has similar portals in 35 different countries throughout the world. Another unique and invaluable aspect to US-Bookies.com is that it provides a state-by-state listing of all legal online bookmakers, which provides gamblers with a central resource to determine which websites are authorized to offer online betting in respective states.

Visit www.US-Bookies.com to learn more about Better Collective’s expansion into the US.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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