Simply put
- Forecasters are growing optimistic about Bitcoin, suggesting it could hit $100,000 before possibly dropping to $69,000.
- Coinbase has acquired the rights to the UpOnly Podcast, but predictions indicate CEO Brian Armstrong might not show up for the first episode.
- While Revolut is showing interest in cryptocurrencies, it’s doubtful they will announce a stablecoin by the year’s end.
Following a gloomy market atmosphere last week, crypto enthusiasts are feeling more upbeat, especially after Thanksgiving and a market rally.
Bitcoin has seen a 7.4% increase in the past week, bouncing back to $91,000, though it’s still about 28% below its all-time high from August. So, what’s next? Many analysts are increasingly bullish.
This week will delve into the bullish sentiment as we explore several notable markets.
(Disclaimer: Myriad Markets is a product of Dastan, the parent company of Decrypt.)
Bitcoin’s next move: Soar to $100,000 or plummet to $69,000
Market open: November 5th
Market ends: open until resolved
Volume: $199,000
Link: The latest odds are “Next move for Bitcoin: Will it soar to $100,000 or plummet to $69,000?” Myriad Market
Bitcoin’s short-term trajectory is a hot topic among forecasters. They’re trying to predict whether the leading cryptocurrency will rise to $100,000 or fall to $69,000.
After some downward movement, BTC has been gradually recovering. It briefly dipped below $82,000 due to liquidations, but with a recent 10% weekly gain, optimism is rising. As of Friday morning, there’s about a 74% chance it could reach $100,000.
This marks a 24% increase in the likelihood of a price pump since the market’s initiation. Analysts point to diminishing institutional investor interest and uncertainty over Federal Reserve policies as causes for the decline. But has the sell-off already bottomed out?
Experts like Tom Lee from BitMine Immersion Technologies think this market cycle mirrors a reset seen since 2016.
Regarding the substantial $19 billion liquidation on October 10th, they believe BTC could still be gearing up for a new peak by year-end.
Michael Thaler of Strategy remains optimistic, stating last month that a surge to $150,000 is possible before January.
There’s a growing expectation of a December rate cut, which could catalyze short-term price movements.
Bitcoin would need to climb 9.8% to hit $100,000 again, but it may need to drop by over 24% to appease the more bearish predictions of a fall to $69,000.
What’s next? The FOMC’s meeting on December 9-10 is looking more favorable for a rate cut, with probabilities rising to about 84% among Myriad forecasters.
Will Brian Armstrong appear in the first episode of UpOnly?
Market open: November 25th
Market ends: open until resolved
Volume: $702
Link: The latest odds are “Will Brian Armstrong appear in the first episode of UpOnly?” Myriad Market
Coinbase recently spent approximately $400 million to acquire Echo, a crypto funding platform co-founded by Koby—better known as Jordan Fish.
The deal involves a $25 million purchase of UpOnly NFTs, which assure item holders of another season of the UpOnly podcast featuring Fish and Ledger Status.
Conditions of this acquisition include allowing UpOnly’s hosts to select guests for the show. However, the NFT also hints they might “ask for some offers” if desired.
Fish, who supposedly has a Coinbase customer support role, is in a position where his connections might help in securing Armstrong for the first episode. But will that be enough to bring him on board?
Myriad forecasters are currently estimating a nearly 60% chance that Armstrong will not appear, leaning towards preferences that might favor his participation.
Fish has indicated that the show will commence once the eight guests are confirmed, although early ideas from the Echo founders haven’t included Armstrong.
It’s an intriguing question. Some speculate there may not be a guest, but without one, there’s really nothing to discuss.
What’s next? A schedule for when the show will resume hasn’t been made public yet.
Will Revolut announce the launch of its own stablecoin by the end of 2025?
Market open: July 4th
Market ends: December 31st
Volume: $27,800
Link: The latest odds are “Will Revolut launch its own stablecoin?” Myriad Market
Neobank giant Revolut is becoming more crypto-friendly and is in the process of enhancing its cryptocurrency offerings. They’ve begun integrating Polygon for stablecoin payments and are working towards obtaining a MiCA license from the Cyprus Securities Regulatory Authority.
The company recently gained a valuation of around $75 billion and has provided crypto trading since early 2017. This summer, rumors circulated regarding their potential launch of a stablecoin.
In July, forecasters initially favored the idea of Revolut announcing a stablecoin, but by early October, the odds had swung back to a strong belief that there would be no announcement, with the predictions approaching a coin flip.
The sudden change in odds isn’t entirely clear. Still, the company has likely benefitted both before and after the turnaround, especially following their recent approval to establish a bank in Colombia.
Despite these developments, the market sentiment has shifted back against the idea of a stablecoin launch.
A legal expert in EU cryptocurrency regulations mentioned that while the 2026 launch of a Revolut stablecoin was reasonable, confidence in that perspective has recently waned.
As the new year approaches, the probability has decreased again—currently up to 86% against any announcement.
What’s next? This market will close for predictions four hours before the end of the year.
