As per the insights from Polymarket participants, Bitcoin, the leading cryptocurrency, is currently perceived to have a 25% likelihood of exceeding the $125,000 mark by this September.
Earlier today, Bitcoin reached an intraday peak of $117,934 on the Bitstamp platform.
This represents a decline of approximately 5.5% from its all-time high of $124,517 achieved on August 14.
Optimistic Predictions
There are some highly optimistic traders who speculate that Bitcoin’s price could potentially surge to $130,000 within a fortnight.
Currently, there is only a 1% chance that Bitcoin will skyrocket to $150,000 in September.
What Do Bears Think?
The outlook for those bearish on Bitcoin appears grim as market sentiment leans heavily towards optimism.
Bitcoin has merely an 11% probability of dropping to $107,000 this month—a significant decrease compared to previous local peaks at around 11%.
Additionally, there exists only a 3% chance that Bitcoin will fall below the $100,000 threshold by month’s end (in contrast to earlier predictions which estimated it at 41%).
Looking Ahead to Q4
Polymarket bettors currently assign a probability of 42% for Bitcoin reaching certain targets by year-end.
According to U.Today reports and insights from Fundstrat’s Tom Lee earlier in the year suggested BTC could hit as high as $200,000 before December; however market expectations now reflect just a modest 7% possibility for such an outcome.
Matt Hogan from Bitwise previously likened current market sentiments surrounding ETFs and Federal Reserve rate cuts to excitement akin to pre-game festivities before the Super Bowl.