Tight ranges continue to define the crypto market, which has only afforded traders a consistent dose of chop lately—a few percentage points up, a few percentage points down.
(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, Dastan.)
New Bitcoin all-time high before July?As of Thursday afternoon, predictors give Bitcoin just a 19% chance of reaching a new all-time high—that is, surpassing its October mark of $126,080—by July. That represents nearly a 10% move in the last week, as the price of BTC has slid below $90,000, recently changing hands around $89,312.
One of Myriad’s longest-standing markets is nearing resolution as gold continues to surge. The precious metal has now jumped 7.28% on the week and was recently priced at $4,938—just $62 away from resolving the market in the commodity's favor.
The surge (and ETH’s subsequent fall) has led to a 16% swing in odds, which now price the likelihood of gold reaching $5,000 first at 94%. Gold will need to rise another 1.25% in order to hit the market, meanwhile, ETH would need to jump 60% from its current price of $2,948.
What’s Next? Gold will need to cool down considerably to give ETH a chance at making a new all-time high of $5,000.
Zcash next move: Pump to $550 or dump to $250?As the token idles, predictors on Myriad are asked whether or not its next stop is a pump to $550, or if it will continue to slide to $250.
In the last week, opinions have changed, with odds swinging more than 21%—now favoring a dump to $250 at 62% as of Thursday afternoon. At this point last week, predictors gave the pump to $550 about a 60% chance.
The price of Zcash fell following the news, but then rebounded once markets were assured that the team would continue to work on Zcash, just under a different company.
The token has rebounded about 2% in the last 24 hours, but it still sits about 51% away from the $550 mark outlined by the market. On the other hand, a 31% drop would satisfy the market and benefit the majority of predictors who forecast a drop to $250.
What’s Next? This market will remain open until resolution.
