Shorting, spikes, speculation, and the volatile Dogecoin stock

TechNews Writer
Mon Apr 19, 2021

As per market aggregator sites, Dogecoin does have 5/1 chances (16.7 percent estimated possibility) of being valued more than $1 by the end of the year 2021. This is a major change from earlier in the month when the odds were 32/1 (2.8 percent).

“Going to follow Elon Musk's [T]witter post, the chances of Dogecoin reaching the historic value of one dollar have greatly decreased,” a spokesperson said in a statement. “Not time afterward, the possibility of the dollar being worth upwards of a few cents appeared distant, but enthusiasm is increasing, and then another spike - perhaps this month - cannot indeed be ruled out.”

In addition, Dogecoin has 15/1 chances (5.7 percent inferred possibility) of reaching $1 by the end of April month. Elon Musk, CEO of Tesla is originally valued at 10/1 (9.1 percent) to enable Teslas to be bought with Dogecoin this year. As per the betting odds, Bitcoin is also expected to see significant rising prices. Although since start of the month, Bitcoin's chances of hitting $100,000 have risen marginally, from 5/4 (44.4 percent inferred possibility) to 11/10 (47.6 percent). Throughout that time, the chances of reaching $200,000 increased from 15/1 (5.7% ) to 12/1 (7.9% ). Bitcoin has been priced at 32/1 (2.8 percent) to surpass $401,000 and 65/1 (1.6 percent) to hit $1 million, according to bookmakers.

“The cryptocurrency sector has become such the fascinating sight recently, but that's mainly due to Bitcoin's tremendous increases, which will have led oddsmakers to become quite optimistic that it would continue taking off,” states a spokesman.  “Even so, uncertainty is observed, with bookmakers giving Bitcoin 5/1 odds of falling to $10,000 in the year 2021.”

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2021 - Spring - Issue 10