**Market Participants on Polymarket Believe Bitcoin Will Drop Back to US$70 Thousand**
Bitcoin (BTC) is currently experiencing an uncertain up-and-down trend phase. Evidently, as this article is being written, Bitcoin has only increased by 0.3% in the last 24 hours and is trading stagnantly at US$83,000 on Tuesday (18/03).
This has generated pessimism on the decentralized prediction platform Polymarket. Where the majority, or more precisely 72%, believe Bitcoin will drop back to US$70,000 by the end of this year.
Certainly, this is underpinned by the decline in Bitcoin's price due to several reasons, such as the trade tax (tariff) imposed by the US on several countries including Mexico, Canada, and China.
In addition, the aftermath of the Bybit exchange hack that was replayed in the market by the Lazarus Group is also considered a contributing factor.
On the other hand, there is a small fraction of market participants who still believe Bitcoin can double its highest price point to US$200 thousand. This is because Bitcoin has dropped more than 23% from its ATH (All-Time High) since 2 months ago.
