The blockchain-based prediction platform, Polymarket, reveals that the majority of crypto community members expect Bitcoin to clinch the $120,000 price mark in July.
Data from the probability platform shows that 80% of crypto users expect Bitcoin to hit this target, while a few others believe the surge will continue to $130,000 and beyond.
Polymarket Odds
Polymarket’s data at the time of writing shows that 26% of the platform’s users expect Bitcoin to reach $130,000 in July, while only 4% believe the price can hit a $150,000 target before the end of the month. Meanwhile, one percent of the prediction platform’s population is optimistic that Bitcoin’s price will continue to climb and will hit the $200,000 target in July.
Related: Bhutan Deposits $23.6M in Bitcoin to Binance Amid BTC All-Time High Surge
In contrast, a portion of Polymarket users expect Bitcoin’s price to pull back after the latest rally and end the month below its current level. Real-time data from the platform shows that 11% users think BTC will return to the $100,000 level, while 4% believe it will break below the significant support and crash to $95,000. Another 3% of Polymarket users predict that Bitcoin will end July at $90,000, and only 1% expect the cryptocurrency to crash to $60,000.
Bitcoin Momentum Remains Strong
In the meantime, Bitcoin traded for $118,011 after reaching an all-time high of $118,426 earlier on Friday. The cryptocurrency’s fundamental metrics reflect significant momentum and suggest it could push for higher targets. For instance, Bitcoin’s trading volume surged over 95% in the last 24 hours to reach $119 billion, while its market cap increased by 6%, standing at $2.34 trillion at the time of writing.
Related: Markets Turn Green as $BTC, $ETH, $SOL, and $XRP Pump — Is This Just the Beginning?
Although the majority of Polymarket users project a $120,000 target for Bitcoin in July, most expert analysts think otherwise. They believe the recent move is only a breakout that prepares the flagship crypto for higher targets. Nonetheless, the bullish momentum behind Bitcoin suggests it could break above $120,000 in the next few hours.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.