Polymarket, a blockchain-based forecasting platform, has revealed that the majority of members of the Crypto community are hoping that Bitcoin will price $120,000 in July.
Data from the Probability Platform shows that 80% of crypto users expect Bitcoin to achieve this goal, while several others believe the surge will last more than $130,000.
Poly local odds
At the time of writing, Polymarket data shows that 26% of users on the platform expect Bitcoin to reach $130,000 in July, while only 4% believe the price will reach its $150,000 target by the end of the month. Meanwhile, 1% of the forecasting platform’s population is optimistic that Bitcoin prices will continue to rise and reach its $200,000 target in July.
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In contrast, some Polymarket users are hoping that Bitcoin prices will be pulled back after the latest rally and end the month below its current level. Real-time data from the platform shows that 11% of users think BTC will return to the $100,000 level, while 4% think they’re under critical support and splitting the crash into $95,000. Another 3% of Polymarket users predict that Bitcoin will close at $90,000 in July, with only 1% expecting cryptocurrency to crash to $60,000.
Bitcoin continues to be strong
In the meantime, Bitcoin was traded at $118,011 after hitting a record high of $118,426 on Friday. The basic metrics of cryptocurrency reflect a great deal of momentum and suggest that they can drive higher targets. For example, Bitcoin trading volume has surpassed 95% in the last 24 hours to $119 billion, but its market capitalization has risen by 6% to $2.34 trillion at the time of writing.
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While the majority of Polymarket users forecast Bitcoin’s $120,000 goal in July, most expert analysts believe it is not. They believe that the recent move is nothing more than a breakout preparing flagship cryptography for higher targets. Nevertheless, the bullish momentum behind Bitcoin suggests it could exceed $120,000 in the coming hours.
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