Sportsbooks Think Bitcoin Will be Worth This Amount End of 2024
Scott Morris | January 13, 2024
The title of this article is just a little misleading. When a sportsbook publishes a spread on a team of -7 points, that doesn’t mean they think the team will win by 7. This just means that it is a good number that will attract equal action on both sides of it. And because the public moves the line with their bets, the final number is one which represents what the public thinks the team will most likely win by.
The same goes for financial over/unders. In this case, BetUS.com has the price of BTC listed at $53,500 for the last second, of the last day of 2024. It’s up to you to bet if you think it will be over or under that number.
$53,500 is a fair number considering all the factors schedule for this year which will pull the price in both directions. Here is a list of expected events:
Will Raise Price of BTC:
- Halving of BTC scheduled for April 2024 – Learn more about that here
- BTC ETF’s begin trading
- Being accepted more as a hedge against inflation
- Wider acceptance among retailers
Will Lower Price of BTC:
- As coins get unlocked from bankruptcies of companies like Celsius, BlockFi and Mt. Gox, those coins will flood the market.
- Possibility of more legal enforcements and countries regulating use
Regardless, the value of BTC is expected to rise from its current value of around $45K. If I were to bet this one myself I would definitely go OVER. To me, BTC seems like the way all money to will look in the not-too-distant future. People are tired of the manipulation of fiat money by government and institutions.
