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- Bookies say there's a 40% chance that Bitcoin will be below $12,500 on New Years Eve
- Odds given on the specific price category Bitcoin will be at by the end of the year
- What is Bitcoin?
Bookies say there's a 40% chance that Bitcoin will be below $12,500 on New Years Eve
Bitcoin has dropped to its lowest level in 2 years and bookies are giving odds of what price it will get to by the end of this year.
At the time of writing (1.55pm on Tuesday 22nd Nov.) Bitcoin currently sits at $16,145.50 and has risen slightly by 2.45% so far today.
The past month though has seen a drop off by over $3,000 dollars with a 15.94% drop off for the cryptocurrency.
The line in which betting sites are giving Bitcoin by the end of the year is $12,500, with odds on over and under that price on December 31st 2022.
Betting odds say there's a 66% chance that Bitcoin is over $12,500, with a 40% chance that it's dropped below $12,500 on that date at the end of the year.
Odds given on the specific price category Bitcoin will be at by the end of the year
Bookies are also giving spread odds on the price of Bitcoin on December 31st 2022 with $10,000 to $19,999 the favourite in the betting market.
The odds are 3/10 that Bitcoin will be at that price at the end of the year with the value dropping under $10,000 second favourite in the market.
| What will the price of Bitcoin be on Dec 31st 2022? | Odds | Probability |
|---|---|---|
| $0 to $9,999 | 11/4 | 26.7% |
| $10,000 to $19,999 | 3/10 | 76.9% |
| $20,000 to $29,999 | 3/1 | 25.0% |
| $30,000 to $39,999 | 11/1 | 8.3% |
| $40,000 to $49,999 | 20/1 | 4.8% |
| $50,000 to $59,999 | 30/1 | 3.2% |
What is Bitcoin?
- Founded in 2009 Bitcoin is a digital or virtual currency used predominately online.
- It was the first and is the leading cryptocurrency
- There are now thousands of virtual currencies.
- Instead of paying for something in cash you can now use bitcoin or another cryptocurrency.
- Transactions are recorded in a blockchain list stored only on the computer, it is not reliant on banks.
- Each bitcoin you own is stored in a digital wallet on your mobile or computer.
- You can send bitcoins to other bitcoin wallets as a payment for goods and services with no need for a bank to get involved.
Taken from our Bitcoin Betting Guide.
