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Betting On Bitcoin: Odds Suggest Value Will Dip Under $17,500 On December 31

Bitcoin value drop causes panic

For anyone following the cryptocurrency market over the past few months, it is no secret that values for altcoins are sinking across the board.

On October 7, 2021, the value of Bitcoin (BTC) was just under $55,000 per coin. Today, BTC is trading at just over $19,600.

Prop bets are posted at the sites included in our legal online sportsbook reviews that are suggesting that the price of Bitcoin will continue to plummet until at least the end of 2022.

Bitcoin Odds For Value As Of 12/31/22

  • Under $17,500 +150
  • $17,501 To $20,000 +200
  • $20,001 To $22,500 +350
  • Over $25,000 +400
  • $22,501 To $25,000 +650

The above Bitcoin prop bet was offered at Bovada.LV in their entertainment betting section, but these types of odds are most often found in financial sections at other online sportsbooks.

Bovada will pay out $2.50 for every dollar wagered on the value of BTC dipping below $17,500 as the clock strikes midnight on December 31, 2022, but we advise making haste in placing your bets right now.

The reason for expediency when wagering on entertainment prop bets is that they are often yanked off of the boards without notice, mostly due to not being tied to game clocks and start times.

Another Bitcoin betting option that was found at Bovada when using their search function tool is the following line that appears to be requested by a member.

Bitcoin Value Betting

  • To Exceed $25k In Q4 2022 +175

The above line will only payout if the price of BTC rises above $25,000 at any point between October 1st and December 31st of 2022. While at first, it may seem like a no-brainer to invest in the higher moneylines provided by the first prop we listed, this line does allow for a wider timeline and doesn’t rely on the resting value when 2022 becomes 2023.

The midterm election cycle has always factored into global financial and commodities markets, and votes will be cast for US House, US Senate, and Gubernatorial races around the nation on November 8th.

Political polls and election betting odds are suggesting a strong performance from the Republican Party this fall, which often comes with improved performance in the stock markets.

If you believe that the GOP will secure majorities in the House and Senate, the time could be now to bet on rising values for BTC and other cryptocurrencies.

ETH Value Betting

  • To Exceed $1500 In Q4 2022 -150
  • To Exceed $2000 In Q4 2022 +500

Speaking of other cryptocurrencies, Bovada has also posted the above prop on the price of Ethereum during the fourth quarter of 2022.

Today, the price of ETH is hovering around $1,339, but held a value of $3,587 one year ago today. The above Ethereum odds imply a favorable likelihood that the price will surpass $1,500 in Q4, but the chances get much slimmer when wagering on the prospect of topping $2K.

Those who deposit and withdraw with Bitcoin and other popular cryptocurrencies know that investing in altcoins is more of a marathon than a race these days.

That said, why not earn additional gains on the cryptocurrency market by betting on Ethereum and Bitcoin futures that have guaranteed payout dates?

Cryptocurrency Betting Odds Provided By Bovada Sportsbook

Sources – CoinDesk

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