Bitcoin is back to trading in the red after suspending its August rally, retreating to $76,000 after briefly touching the $80,000 mark.
While the recent price rally has raised investors' confidence while stirring optimism for a further price breakout, traders on Kalshi are betting on more upside movement for Bitcoin this month.
Bitcoin traders turn optimistic
As of Wednesday, September 3, the crypto prediction firm revealed that its traders are betting on Bitcoin reaching $82,000 before this month runs out.
Considering its current trading price of around $76,000, the prediction suggests that traders on Kalshi expect Bitcoin to at least surge by around 7% from its current level this month.
It is not surprising that traders are optimistic about Bitcoin reaching $82,000 this month, as the strong August performance for Bitcoin has driven confidence among traders.
Over the last month, Bitcoin rallied about 25%, surging from the $62,500 it began the month with to above $78,000. Moreover, it achieved a high of about $81,138 following the rally in August.
Bitcoin at $82,000?
While the latest Bitcoin prediction on Kalshi shows that traders still believe in a further price rally despite the short-term correction in its price, this could further drive sustainable bullish momentum for the asset.
With Bitcoin constantly testing the $80,000 level in recent days, market analysts believe there is a high possibility of Bitcoin reaching $82,000 this month.
Nonetheless, its historical record further provides a bullish outlook for Bitcoin in September, as it has maintained steady September gains for the past four years.
Dan Burgin
U.Today Editorial Team
