The success of bitcoin in 2017 has come as a surprise to some analysts. While many were projecting a $10,000 bitcoin and beyond as long as several years ago, the majority of analysts and investors from the mainstream financial world have taken a little longer to come round to the idea.
Even despite the currency’s rapid growth throughout 2017, senior executives like JP Morgan’s Jamie Dimon and even the Wolf of Wall Street himself, Jordan Belfort, have been amongst those adding critical voices. With the doubters silenced to some extent, analysis is turning now to where bitcoin is heading next.
Now, sports betting giant Bodog is providing an alternative option for those who want to speculate on the currency’s future – by opening up a series of proposition bets on bitcoin. Set up as an alternative for gamblers rather than currency investors, these props are already attracting interest from the bitcoin gambling crowd.
There are two proposition bets quoted, both of which are fairly simple – it’s the value of BTC and BCH respectively at the end of 2017. The bet is adjudicated based on the CoinDesk BPI at the close of December 31st 2017, and provides for the full spectrum for value for each of the respective cryptocurrencies.
At the time of writing, the odds for Bitcoin BTC pointed firmly to a $10,000 to $12,000 at +140, but intriguingly values above $12,000 clock in at a near second best, at +150. For those who take a more pessimistic view, odds of +900 are available for $6,000-$8,000, and for values under $6,000 separately.
On the Bitcoin Cash BCH side, the odds are pointing to $1,600-$1,900, which is already in the trading range for the currency as of the time of press – you’ll get +150. Meanwhile, there’s some indication in the pricing that the next most favored outcome is $1,300-$1,600, which stands at +200. For those projecting a total crash, +700 is available for under $1,000.
With a highly successful year for bitcoin, and the debut for bitcoin cash, drawing to a close, it’s time to place your bets now for the end of year run in.