Unlucky Gamblers Lose Big on $100K Bitcoin Bet

Traders who placed large bets on Bitcoin breaching the $100,000 mark in November faced significant losses after the cryptocurrency failed to maintain its upward momentum. On November 22, Bitcoin surged to a record high of $99,655, pushing the chances of it surpassing the $100,000 threshold to 91% on the Polymarket platform. However, Bitcoin soon began to experience a correction, dipping as low as $90,800 on November 27 before closing the month at approximately $98,000.

Big Bets and Liquidations

One of the notable bets on Bitcoin reaching $100,000 was placed by a trader known as TomApproves on Polymarket, who wagered a hefty $114,000 on this outcome. Another anonymous gambler lost nearly $56,000 on the same prediction. Despite Bitcoin’s brief flirtation with the $100,000 mark, these traders were left liquidated as the price retraced.

According to Polymarket data, the total trading volume for this poll reached $28.5 million as traders speculated on Bitcoin’s potential movement. While many were betting on a massive surge, the correction dampened the enthusiasm of those expecting an immediate breakthrough.

Bitcoin’s Future Outlook: $90K or $100K?

Despite the setback, the optimism around Bitcoin’s future remains strong. New data from Polymarket reveals that traders still see a 40% chance for Bitcoin to drop to the $90,000 zone, while the odds of Bitcoin breaking $100,000 before 2025 have increased significantly. A separate poll, with nearly $14 million in trading volume, shows that the likelihood of Bitcoin crossing $100,000 this month surged from 19% to 71% over the past 30 days.

As of now, Bitcoin is trading at $96,700, having surged earlier on Monday to $98,150. Its daily trading volume has increased by 32%, reaching $42.4 billion, reflecting strong investor interest despite recent volatility.

Robert Kiyosaki’s Bitcoin Prediction

Robert Kiyosaki, the author of Rich Dad Poor Dad and a long-time Bitcoin supporter, has weighed in on the situation. He believes Bitcoin could drop to around $60,000 before eventually reaching the coveted $100,000 mark. He sees any drop as a “sale”, implying that he would buy more BTC if prices dip further. Looking ahead, Kiyosaki is optimistic about Bitcoin’s long-term value, predicting that it could “settle” at around $250,000 by 2025.

A Volatile Journey Ahead

The unpredictable nature of Bitcoin’s price movements, combined with significant market speculation, has led to both big wins and losses in the space. While many traders lost big on the $100,000 bet, there remains a prevailing sense of optimism for Bitcoin’s long-term prospects. With support from prominent figures like Kiyosaki, traders and investors are keeping an eye on the $100,000 barrier, which may still be within reach depending on how the market evolves over the next year.