Cryptocurrency traders are unsure which direction the market will take as top assets continue to fluctuate in the wake of the recent financial crisis. Record-breaking liquidation.
However, some of Myriad’s top markets seeking predictions about the next stop for Bitcoin and Ethereum are moving back into bullish territory, suggesting that forecasters are less anxious than they were this time last week.
Let’s take a closer look at some of the most traded markets on Myriad this week.
(Disclaimer: Myriad Markets is a product of DASTAN, the parent company of Decrypt.)
Bitcoin’s next move: $120,000 or a drop to $100,000?
Market open: October 12th
Market ends: accept the solution
volume: $414,000
link: The latest odds are “Bitcoin’s next hit: $120,000 or a drop to $100,000.” Myriad Market
It’s already over. Then cryptocurrencies came back. Then it was over again. And now it may be coming back.
A popular meme about the emotions of crypto traders amid volatile conditions has appeared on countless market charts asking where to go. Bitcoin The next step is either down to $100,000 or back up to $120,000.
The market was first inspired A bet between crypto personalities Mando and KeyboardMonkeyhas fluctuated since its inception, and at one point last week there was a win-win situation.
“Uptober” did not go as planned, with Bitcoin falling so far this month after a strong start. However, as of Thursday afternoon, traders were slightly more bullish on Bitcoin continuing its rise, with odds of a $120,000 rise slightly in favor of 56%. This mark represents an increase of nearly 11% in the past 24 hours, as BTC rose about 2% to $110,162.
At that price, the assets are split almost evenly on both sides of the market.
The bullish momentum likely came as a result of the upturn in ETF inflows that began on Tuesday, halting four consecutive days of outflows. The Bitcoin ETF had about $470 million in inflows that day, but regained about $100 million in Wednesday’s outflows.
This ups and downs shows the uncertainty in the market. Analyst speaks decryption on wednesday “However, given the volatility of the overall market, it is likely too early to tell whether this is the bottom.”
Bearish forecasters at one point favored odds of $100,000 last week, pushing the odds up to 75%, but in recent days the odds have shrunk to about 55%. But now, the bulls have regained control, albeit slightly.
If Bitcoin jumps to $120,000, BTC holders could earn about 9% based on current prices. However, if a Myriad user takes a position of “$120,000,” he or she could earn nearly 44%.
What’s next? A CPI release is expected on Friday, which could play a role in shaping Bitcoin’s near-term future.
Next move for ETH: Rise to $4,500 or plunge to $3,100
Market open: October 17th
Market ends: open until resolved
volume: 27.6 thousand dollars
link: See the latest odds. “ETH’s next move” market In Myriad.
Ethereum It underperformed compared to Bitcoin last week, which fell by about 0.6% to $3,887, although Bitcoin rose slightly over the same period.
Nevertheless, Myriad’s forecasters feel much more optimistic about a return to $4,500 than a plunge to $3,100.
Despite ETH’s weekly decline, forecasters actually jumped the odds of it rising to $4,500 by 15.5%, and it now sits at 66%.
The second-largest crypto asset by market capitalization would need to rise about 16% to reach $4,500, leaving it 20% off the floor.
Ethereum, like Bitcoin, bucked the ETF outflow trend earlier this week, but reversed itself on Wednesday with smaller outflows. BitMine Immersion Technology I’m still buying it.
actual, 2nd largest ETH vault—sharp link gaming—added to stack as Whales rely on ETH In the same way.
What’s next? As with Bitcoin and the broader cryptocurrency market, Friday’s macroeconomic data could help paint a clearer picture of ETH’s next move.
Will the Los Angeles Dodgers win the World Series?
Market open: August 14th
Market ends: October 26th
volume: $229,000
link: The latest odds are “Can the Dodgers win the World Series?” Market in myriad
The baseball season is coming to an end, with the World Series scheduled to begin Friday in Toronto.
Only two teams remain: the Los Angeles Dodgers and the Toronto Blue Jays. Countless users have been predicting the Dodgers’ chances of winning since August, and the odds have swung wildly in their favor over the last week, jumping to 71% as of Thursday afternoon.
That represents an increase of 9% over the past week and nearly 30% over the past 10 days, as the reigning champions clinched a spot in the World Series with a dominant victory over the Milwaukee Brewers.
Before the playoffs and on-field battles, the Dodgers once traded Myriad for as low as 16%. In addition to easily defeating the Brewers, the Dodgers will be facing a team that just barely made it through a tough seven-game series against the Mariners.
Currently, the implied probability is around 70%, with countless forecasters pegging this team as around -233 favorite in American odds. This is actually higher than traditional sportsbooks like DraftKings, which list the Dodgers at about -215th place, or 68.25% favorites to win the series, giving Myriad users who want to root for the Canadian team a slight percentage point advantage.
What’s next? The Dodgers will play Game 1 in Toronto on Friday.
