Unlucky gamblers lost big on the $100k Bitcoin bet

Traders betting on Bitcoin’s surge to the $100,000 mark have been liquidated on the market prediction platform Polymarket.

Bitcoin (BTC) rallied to an all-time high of $99,655 on Nov. 22, increasing the chances of breaking the $100,000 barrier to 91%, according to a poll on Polymarket. 

However, the flagship cryptocurrency soon started to face correction and even touched a local low of $90,800 on Nov. 27. The asset closed November close to the $98,000 mark.

Consequently, one trader, known as TomApproves on Polymarket, placed a $114,000 bet on Bitcoin reaching $100,000 in November. Another anonymous gambler lost almost $56,000 on the same bet as the digital gold retraced.

The total trading volume of the poll reached $28.5 million, per data from Polymarket.

$90k or $100k Bitcoin next?

Data from the market predictions platform shows traders still hope for Bitcoin to reach $100,000 before 2025. According to a poll on Polymarket, there’s a 40% chance that the BTC price would fall to the $90,000 zone again.

Another poll with nearly $14 million in trading volume shows that the odds of Bitcoin breaching $100,000 this month increased from 19% to 71% over the last 30 days. 

Bitcoin surged to $98,150 early Monday and is trading at $96,700 at the time of writing. Its daily trading volume increased by 32%, reaching $42.4 billion.

Robert Kiyosaki, the author of “Rich Dad Poor Dad” and a long-time Bitcoin supporter, expects the Bitcoin price to plunge to $60,000 before hitting the $100,000 mark. “If and when that happens I will not sell.  BTC will be having a sale.  I will buy more,” Kiyosaki added.

The best-selling author believes that Bitcoin could “settle” around $250,000 in 2025.