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- There's a 54% chance that Ethereum rises above $1100 at the end of the year according to the latest betting odds
- Bookies also giving odds that Bitcoin will be below $12,500 on New Years Eve
- What is Bitcoin?
There's a 54% chance that Ethereum rises above $1100 at the end of the year according to the latest betting odds
Cryptocurrency betting is rising in popularity on a weekly basis and that continues with bookies giving odds on the price of Ethereum at the end of the year.
This time last year, Ethereum was at an all time high reaching over $4,500 value for the cryptocurrency but a lot has changed since then.
A 72.7% drop in the last year has seen the currency drop to as low as $1,091 earlier in November at the betting line for the crypto is at $1,100 according to the betting odds.
Bookies say that there's an equal chance at 5/6 of it being over $1,100 or under $1,100 with a 54% chance of either side happening on December 31st.
Bookies also giving odds that Bitcoin will be below $12,500 on New Years Eve
Bitcoin dropped to its lowest level in nearly 2 years last week and it's expected to carry on that way over the next few weeks.
At the time of writing Bitcoin sits at $16,824.30 and is $800 dollars up from this time last week when we looked at Bitcoin's price in detail.
The past month though has seen a drop off by over $3,000 dollars with a 15.94% drop off for the cryptocurrency.
Betting odds say there's a 66% chance that Bitcoin is over $12,500 on 31st December, with a 40% chance that it's dropped below $12,500 on that date at the end of the year.
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.
