ETH Price Prediction: Polymarket Reveals Astonishing 65% Chance of $5K Breakthrough

Key Points

1. Polymarket bettors give a 65% probability that ETH will hit $5,000 by the end of August, with a 90% chance it will reach $4,800.

2. Prediction markets like Polymarket allow participants to bet on future events by buying shares in outcome probabilities, with $0.65 per share implying a 65% chance.

3. Technical analyst Rekt Capital notes that ETH needs to turn $4,631 into new support to confirm a bullish trend.

4. While the prediction is optimistic, the crypto market's volatility means prices can fluctuate rapidly, requiring investors to stay informed about regulatory and macroeconomic conditions.

5. Polymarket's predictions are based on aggregated user bets, reflecting collective sentiment but not guaranteeing accuracy.