Wall Street juggernauts continue to flirt with cryptocurrency legitimization, and altcoin markets have responded kindly over the past few weeks. Unlike traditional commodity and financial markets, cryptocurrency is entirely dependent on future speculation.
The current value of Bitcoin is $41,865.49. On December 18, 2022, BTC was worth $16,896.17. In just one year’s time, Bitcoin has appreciated by 247%, but will the ascension continue through the end of the year?
Odds for betting on Bitcoin have surfaced at online sportsbooks that are suggesting the value will fall to under $40,000 by midnight on December 31, 2023.
End Of 2023 Price Of One Bitcoin (BTC)
Over $39,500.5 USD -175
Under $39,500.5 USD +135
If the over/under presented in the above cryptocurrency prop bet is accurate, BTC values are set to dip by $2,350 over the next 19 days. As Bitcoin goes, the rest of the crypto market tends to follow.
For instance, Ethereum values are up as well. ETH is trading today at $2,216.87. On December 18, 2022, the price of Ethereum was $1,150.34.
Price Of Ethereum (ETH) At The End Of 2023
Over $2,200.5 USD -160
Under $2,200.5 USD +120
That’s nearly double the value in just 359 days, and the odds for betting on Ethereum suggest that it will hold steady through the new year.
Wall St. investment companies BlackRock and Fidelity have made filings with the SEC seeking approval for ETH trading via ETFs. These Exchange-Traded Funds would allow for what would equate to betting on market values of ETH going forth.
The fact that Fidelity and BlackRock are attempting to legitimize cryptocurrency trading in the United States has inspired investments from players that are typically more reserved.
Current crypto values are a direct result of these developments. Just imagine if the SEC approves of either BlackRock or Fidelity’s request. Anyone who anticipates approval from the Securities and Exchange Commission should do two things right now – invest in cryptocurrency and bet on it as well.
Price Of Cardano (ADA) At The End Of 2023
Over $0.57.5 Cents -150
Under $0.57.5 Cents +115
One of our favorite altcoins from an investment perspective is Cardano (ADA). The altcoin was created by Ethereum co-founder Charles Hoskinson and is one of the most popular proof-of-stake cryptocurrencies available.
ADA’s June 9, 2023, price was set at an annual low of $0.23, but today, Cardano is trading at $0.60. The betting odds are projecting an overall value north of $0.58 on New Year’s Eve, painting a promising picture for Cardano’s 2024 potential.
There is no timetable set for a response from the SEC, nor have they indicated a stance on domestic cryptocurrency trading.
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