Ric Edelman, founder of Edelman Financial Services managing assets exceeding $291 billion, predicts that Bitcoin could reach a milestone of $150,000 after the 2024 halving event. This is not the first time Bitcoin has seen such huge predictions from analysts.
The halving event could also be decisive for other cryptos like Chancer. The crypto sector is in a transformative phase characterised by increasing maturity and behavioural shifts. Market dynamics and regulatory actions are cleansing the sector, making digital assets more attractive for individual and institutional investors.
A bullish Bitcoin could boost the sentiment for other cryptocurrencies, like Chancer. Chancer is a new blockchain platform which powers peer-to-peer betting. Investors can create a Chancer market and bet on any event they feel like on a secure blockchain platform. This will challenge traditional betting, where markets are established by bookmakers. Chancer will be the token investors can use to claim winnings on successful bets.
Analysts expect up to a 1,000% price increase for Chancer. They have earmarked a triple-digit price increase in 2023, with more than 10x in the future. This could be driven by speculation around its novel betting platform, as well as a bullish Bitcoin which boosts the sentiment for risky assets.
It remains to be seen if Chancer is a sustainable blockchain project. Betting is among the strongest and fastest-growing sectors. Online sports betting alone is expected to grow by 9.94% CAGR between 2023 and 2027, taking the total market volume to $63.62 billion by 2027. Chancer will capitalise on the strengths of the entire betting sector, as well as introducing new betting events, to grow and capture a considerable market.
