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- Betting odds now make it 4/5 that Bitcoin finishes the year above $27,500
- Now odds against to slip under that figure by the end of 2023
- What is Bitcoin?
Betting odds now make it 4/5 that Bitcoin finishes the year above $27,500
Betting on Bitcoin is still available with bookmakers as they look to offer prices on where the virtual currency will end up at the end of the year.
The current situation with Bitcoin sees it fluctuating at around $29,000 with a $4,000 rise for the coin in the last 2 months.
The latest betting market gives odds on whether we will see it stay that way with the current betting line at $27,500 for Bitcoin by the end of 2023.
Currently the odds given are 4/5 that Bitcoin stays above $27,500 by the end of the year with bookies suggesting that the currency will stay strong.
Those latest odds say that there's a 55.6% chance that Bitcoin stays above that level and stays strong by the end of the year rather than falling further.
What the expert says..
Now odds against to slip under that figure by the end of 2023
The betting odds for Bitcoin falling under the $27,500 mark now sit at evens with bookies making the market tight about where the coin will end up.
Bitcoin and most cryptocurrencies are so temperamental that there's really no way to know for a fact where it'll end up.
Only at the start of last year we were seeing betting odds given for Bitcoin to hit $100,000 so that just shows how different the coin can fluctuate.
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.
