Dogecoin currently has 5/1 odds (16.7% implied probability) to be worth more than $1 at the end of 2021, according to betting aggregators. This is a significant improvement from earlier this month, when it had 33/1 odds (2.9%) to do so.
Following Elon Musk’s latest tweet, the odds of Dogecoin hitting the landmark value of one dollar have fallen significantly,
says a US-Bookies spokesperson.
Not so long ago, the prospect that the currency would be worth any more than a few cents seemed remote, but momentum is building and another surge – even as soon as this month – cannot be ruled out.
Dogecoin also has 16/1 odds (5.9% implied probability) to reach $1 by the end of April. Oddsmakers are currently placing 10/1 odds (9.1%) on Elon Musk allowing Teslas to be purchased with Dogecoin this year.
Bitcoin is also likely to see big price increases, according to the oddsmakers. Bitcoin’s odds of reaching $100,000 this year improved slightly from 5/4 (44.4% implied probability) to 11/10 (47.6%) since the beginning of the month. Its odds of hitting $200,000 also improved from 16/1 (5.9%) to 12/1 (7.7%) during this time. Bookies now also list Bitcoin as 33/1 (2.9%) to eclipse $400,000, and 66/1 (1.5%) to reach $1 million.
The cryptocurrency market has been quite the interesting sight as of late, and that’s mostly thanks to Bitcoin’s incredible rises, which have led bookies to grow quite confident that it will continue to take off,
continued the spokesperson.
However, the volatility is noted, as oddsmakers also give Bitcoin 4/1 odds to fall to $10,000 in 2021.
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Odds that Bitcoin Reaches the Following Prices in 2021 (parentheses indicate odds on April 6):
- $100,000: 11/10 (5/4)
- $200,000: 12/1 (16/1)
- $400,000: 33/1
- $1,000,000: 66/1
- Fall to $10,000: 4/1
- Fall to $1,000: 250/1
Dogecoin Odds (parentheses indicate odds on April 6):
- To be worth more than $1 at end of 2021: 5/1 (33/1)
- To be worth less than 1¢ at end of 2021: 20/1 (16/1)
- To be worth more than Bitcoin at any point this year: 1000/1
- Elon Musk to allow Tesla to be bought with Dogecoin this year: 10/1
- Dogecoin to reach $1 by April 30: 16/1
Disclaimer: The odds posted in this article are for illustrative purposes only, as wagering on such props is not currently legal in any U.S. state. The data was based on betting markets offered by UK/European/worldwide operators regulated in jurisdictions where wagering on these props is legal.
