October and November, known as the historically bullish months in the cryptocurrency market, are now known as the worst months in history.
Because the downward trend that started in October in Bitcoin and altcoins is still continuing and the BTC price has dropped to the level of $81,000.
Following the ongoing sharp and sudden declines in Bitcoin and altcoins, investors' expectations of further declines have increased.
The declines experienced at this point also significantly changed the expectations on the prediction market Polymarket.
Investors believe that downward movements will continue in the short term, especially in Bitcoin (BTC) and Ethereum (ETH).
According to Polymarket data, November expectations for BTC and ETH prices were realized as follows.
1.Bitcoin (BTC):
Bitcoin's downtrend, which is expected to reach $200,000 by the end of the year, is deepening.
In this context, it is seen that the probability of Bitcoin falling below $80,000 in November has reached 64% in Polymarket.
In the predictions titled “What Price Will Bitcoin Reach in November?”, bearish expectations for BTC seem to dominate.
- A drop below $80,000 stands out as the most likely scenario, with a 64% probability.
- This is followed by a 30% probability that Bitcoin will fall below $75,000 in November.
- Finally, the probability of Bitcoin falling above $115,000 remains only around 2%.
2.Ethereum (ETH):
The predictions titled “What Will Ethereum's Price Be in November?” also feature bearish predictions for Ethereum. At this point, the majority of market participants believe ETH will continue its decline in November.
- The most dominant scenario is pricing in a 68% probability of a price below $2,600.
- A drop below $2,400 is priced in with a 33% probability.
- These are followed by the third most prominent prediction, which has a 17% probability of ETH falling below $2,200.
- The probability of Ethereum rising above $4,000 on November 4 is priced at only 2.
*This is not investment advice.
