Bitcoin Has 44% Chance to Hit $100,000 In 2021 – 9.1% Chance for Tesla to Accept Dogecoin
Bitcoin currently has 5/4 odds (44.4% implied probability) to reach a price of $100,000 in 2021, according to betting aggregators US-Bookies.com.The odds of Bitcoin reaching $200,000 are 16/1 (5.9%), suggesting that $100,000 is a far more likely scenario.
“Following Bitcoin’s post-dip rally last week, the odds suggest the magic figure of $100,000 could again be within reach this year,” says a US-Bookies spokesperson. “In fact, bookies are slightly more confident in it reaching that mark than they were at the end of March, as they shortened the odds from 6/4 to 5/4 since then.”
Given the cryptocurrency’s volatility, bookies are also eyeing the chance Bitcoin’s price drops. It currently has 4/1 odds (20% implied probability) to fall to $10,000, and 250/1 odds (0.4%) to drop to $1,000. However, it also has 66/1 odds (1.5%) to reach $1 million, so it’s more likely to eclipse the million mark than it is to drop to $1,000.
Oddsmakers Are Also Watching Dogecoin Closely
Dogecoin is another cryptocurrency oddsmakers are watching closely. However, they are less confident in it than they are in Bitcoin, giving Dogecoin 33/1 odds (2.9% implied probability) to be worth more than $1 at the end of 2021. Its 16/1 odds (5.9%) to be worth less than 1 cent suggest a more likely scenario.
“With Dogecoin’s rally having looked short lived, the betting now suggests it’s more likely to slump back to a cent or lower than hit a dollar or more by the end of the year,” says a US-Bookies spokesperson. “In terms of what comes next for the meme-inspired crypto, don’t rule out Elon Musk announcing it as Tesla’s latest accepted form of payment.
Oddsmakers are currently placing 10/1 odds (9.1% implied probability) on Elon Musk allowing Teslas to be purchased with Dogecoin this year.
Odds that Bitcoin Reaches the Following Prices in 2021:
$100,000: 5/4
$200,000: 16/1
$1,000,000: 66/1
Fall to $10,000: 4/1
Fall to $1,000: 250/1
Dogecoin Odds:
To be worth more than $1 at end of 2021: 33/1
To be worth less than 1¢ at end of 2021: 16/1
To be worth more than Bitcoin at any point this year: 1000/1
Elon Musk to allow Tesla to be bought with Dogecoin this year: 10/1
Disclaimer: The odds posted in this article are for illustrative purposes only, as wagering on such props is not currently legal in any U.S. state. The data was based on betting markets offered by UK/European/worldwide operators regulated in jurisdictions where wagering on these props is legal.
