{"id":172243,"date":"2024-09-26T15:33:02","date_gmt":"2024-09-26T15:33:02","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172243"},"modified":"2024-09-26T15:34:18","modified_gmt":"2024-09-26T15:34:18","slug":"polymarket-predicts-84-odds-ethereum-wont-reach-new-ath-next-year-is-the-bear-market-here","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/polymarket-predicts-84-odds-ethereum-wont-reach-new-ath-next-year-is-the-bear-market-here\/","title":{"rendered":"Polymarket Predicts 84% Odds Ethereum Won\u2019t Reach New ATH Next Year\u2014Is the Bear Market Here?"},"content":{"rendered":"
TL;DR<\/span><\/span><\/strong><\/p>\n Ethereum (ETH)<\/span><\/span><\/strong><\/a> has faced<\/span><\/span> an uncertain outlook<\/span><\/span><\/strong> in the cryptocurrency market<\/span><\/span> following a period of strong activity.<\/span><\/span><\/strong><\/p>\n <\/p>\n Despite experiencing <\/span><\/span>a<\/span><\/span><\/strong> 15<\/strong><\/span><\/span>%<\/strong> increase<\/span><\/span><\/strong> in <\/span><\/span>price<\/span><\/span><\/strong> in recent weeks, the <\/span>largest <\/span><\/span>altcoin by <\/span><\/span><\/strong>market capitalization<\/span><\/span><\/strong> has entered a <\/span><\/span>consolidation phase<\/span><\/span><\/strong>.<\/span><\/span><\/p>\n Its <\/span><\/span>price<\/span><\/span><\/strong> has <\/span><\/span>fluctuated<\/span><\/span><\/strong> between <\/span><\/span>$2,600<\/span><\/span><\/strong> and <\/span><\/span>$2,700<\/span><\/span><\/strong>, which has caused a <\/span><\/span>stagnation<\/span><\/span><\/strong> in its market dynamics.<\/span><\/span><\/p>\n This situation has been exacerbated by <\/span>the <\/span>SEC’s recent <\/span><\/strong><\/span>delay<\/span><\/span><\/strong> in <\/span>approving <\/span>Ethereum-<\/span><\/strong>related<\/strong> <\/span>ETF options<\/span><\/strong>, <\/span>which has added a <\/span>veil of uncertainty<\/span><\/strong> to its <\/span>immediate future.<\/span><\/strong><\/span><\/p>\n Polymarket<\/span><\/strong>\u2019s<\/strong> <\/span>odds <\/span>reflect <\/span>growing pessimism <\/span><\/strong>among investors<\/span><\/strong><\/span>,<\/span><\/span><\/strong> with <\/span>only a <\/span>16%<\/span><\/strong> chance that <\/span>Ethereum<\/span><\/strong> will manage to hit a new <\/span>all-time high<\/span><\/strong> in <\/span>2024<\/span><\/strong>.<\/span><\/span><\/p>\n This change in <\/span><\/span>bets<\/span><\/span><\/strong>, which total <\/span><\/span>$1,628,442<\/span><\/span><\/strong>, indicates that many <\/span><\/span>traders<\/span><\/span><\/strong> do not anticipate a <\/span><\/span>significant rally<\/span><\/span><\/strong> in the <\/span><\/span>near term<\/span><\/span><\/strong>.<\/span><\/span><\/p>\n As the <\/span><\/span>SEC continues to review its decisions on <\/span><\/span><\/strong>crypto<\/span><\/span><\/strong> products<\/span>, the <\/span><\/span>lack of clarity<\/span><\/span><\/strong> has kept investors <\/span><\/span>in<\/span><\/span><\/strong> a wait-and-see mode, limiting the <\/span>asset\u2019s <\/span><\/span>upside potential.<\/span><\/span><\/strong><\/p>\n The <\/span><\/span>SEC<\/span><\/span><\/strong>‘s announcement,<\/strong> which extended its review until <\/span><\/span>November<\/span><\/span><\/strong>, has raised <\/span><\/span>concerns<\/span><\/span><\/strong> in the <\/span><\/span>market<\/span><\/span><\/strong>, as many had expected a <\/span><\/span>quicker decision<\/span><\/span><\/strong>.<\/span><\/span><\/p>\n This <\/span><\/span>delay<\/span><\/span><\/strong> adds to the <\/span>perception<\/span><\/strong><\/a><\/span> that<\/span><\/span><\/strong> the <\/span><\/span>\n
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