Participants on Polymarket predict a decline in Bitcoin's price for August 2024:
â 48% expect it to drop below $60,000;
â with 26% betting on a fall to $55,000;
â 12% to $50,000;
â and 4% to $45,000.
Historically, August and September are weak months for BTC.
In June 2024, Polymarket's trading volume hit a record $111.5 million, and the platform partnered with MoonPay while raising $70 million from Founders Fund and other VCs. Analysts at Jefferies note that Bitcoin's price correlates with the outcome of the U.S. presidential election on November 4, 2024.
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