Bitcoin (BTC), 63% Chance of August $60,000 Collapse...Dogecoin Co-founder 'Sighs'

▲ Bitcoin (BTC) decline, Dollar (USD)/ChatGPT generated image

The probability of Bitcoin (BTC) collapsing to $60,000 in August has surged to 63%. The Dogecoin co-founder left a single word: “Sigh.”

According to cryptocurrency media outlet U.Today on August 3 (local time), prediction market platform Polymarket indicated a 59% chance of Bitcoin falling below $60,000 by the end of August. Billy Markus, the Dogecoin (DOGE) co-founder who goes by the name ‘Shibetoshi Nakamoto’ on X (formerly Twitter), replied “Sigh” to the post.

The probability of Bitcoin falling to $60,000 on Polymarket subsequently rose to 63%. Markus previously described the bearish trend in the cryptocurrency market as a phase dominated by boredom rather than fear. He said, “This is what a crypto bear market looks like.”

Market forecasts were not one-sided. The probability of Bitcoin surpassing $67,500 in August was calculated at 42%. The likelihood of it exceeding $65,000 was 71%. Conversely, the probability of it falling below $57,500 was 37%.

Bitcoin declined over the weekend amid concerns that the momentum for cryptocurrency legislation in the US had weakened. The performance of Coinbase and Strategy also fell short of market expectations. U.Today reported that there were signs of speculative investors withdrawing from risk assets.

[Key Article Summary]

-The probability of Bitcoin falling to $60,000 in August on Polymarket increased from 59% to 63%.

-Billy Markus responded with a brief “Sigh” to the forecast of a further Bitcoin decline.

-Market outlooks were mixed, with the probability of Bitcoin breaking above $65,000 also calculated at 71%.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*