⏺Bad predictions for Bitcoin for August 2024

Polymarket participants predict a fall in the price of Bitcoin in August 2024:

• 48% believe that the price will fall below $60,000;
• 26% bet on a drop to $55,000;
• 12% up to $50,000;
• and 4% up to $45,000.

Historically, August and September are weak months for BTC. In June 2024, the trading volume on Polymarket reached a record $111.5 million, the platform entered into a partnership with MoonPay and attracted $70 million from the Founders Fund and other venture funds. Jefferies analysts note that the price of bitcoin correlates with the results of the US presidential election on November 4, 2024.