Oddsmakers Not Confident in Summer Surge for Bitcoin or Dogecoin
Odds Suggest Certain Cryptocurrencies Not Likely to Reach Milestone Prices by Summer’s End
Bitcoin (BTC) has 4/1 odds to reach $50,000 by September 22 (20% implied probability), according to betting aggregators. The odds bitcoin falls below $10,000 by this time are 10/1 (9.1%).
“Following Bitcoin’s recent slip, the odds suggest a rally to spring’s highs of $50,000 by the end of summer looks unlikely.” says a US-Bookies cryptobetting analyst. “However, it’s worth noting that the bookies do see it reaching $50,000 as more likely than it dipping to $10,000.”
Dogecoin (DOGE) is 12/1 to reach $1 by September 22 (7.7% implied probability). The odds it falls below $0.01 by this time are 20/1.
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“The odds aren’t as high on Dogecoin as they were prior to Elon Musk’s Saturday Night Live appearance, as its performance in recent weeks doesn’t inspire confidence in a sudden rise,” says a US-bookies cryptobetting analyst. “But the odds of it reaching $1 are stronger than its odds of falling below $0.01, so it could be worse for DOGE investors.”
Odds Bitcoin (BTC) reaches $50,000 by September 22, 2021: 4/1
Odds Bitcoin falls below $10,000 by September 22, 2021: 10/1
Odds Dogecoin (DOGE) reaches $1 by September 22, 2021: 12/1
Odds Dogecoin falls below $0.01 by September 22, 2021: 20/1
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.