CHANCER price forecast amid bullish bets on crypto

The crypto market was up 1.3% on Thursday morning to mirror gains seen on Wall Street amid increasingly positive bets by market participants. Momentum appears to have cascaded into the Chancer ($CHANCER) presale, which is poised to hit $1.7 million.

Crypto prices mirror Wall Street, Bitcoin tests $26.5k

Wednesday saw a blockbuster earnings report from Nvidia Corp (NASDAQ: NVDA), with reaction in after-hours trading catapulting the semiconductor behemoth’s shares higher. Anticipation around Wall Street had seen the S&P 500 and Nasdaq close more than 1% higher.

The crypto market also posted slight gains, with Bitcoin rising to above $26,500 in early morning trades on Thursday. Action from BTC bulls was also replicated across the altcoin market as Ether prices rose to near $1,700. Solana led the top 10 coins with over 4.5% gains in 24 hours after Solana Pay announced integration with Shopify.

Meanwhile, Chancer is bidding to hit $1.7 million raised as presale price looks to jump 9%.

Chancer’s bid to revolutionise an industry

Chancer is a new decentralised betting platform poised to launch in the first quarter of 2024, introducing a game-changer to the betting and gambling industry.

As highlighted in its whitepaper, Chancer is looking to tap into the benefits of blockchain technology to offer bettors a decentralised social betting network devoid of the limitations of centralised bookmakers. Users of the new peer-to-peer betting platform will be able to create, share and earn from their own custom bets.

The ecosystem will be powered by the $CHANCER token, whose utility will include a rewards system and staking for more passive income for holders. Many investors are looking at the chance to buy $CHANCER at low prices in anticipation of its likely traction.

The presale, accessible here, has thus seen huge interest ahead of the token’s launch on both decentralised and centralised exchanges.

Will $CHANCER hit $1 in 2024?

The prediction market is forecast to grow rapidly over the next few years. Estimates have the global sports betting market growing from $83 billion to over $167 billion by 2030. Chancer is likely to account for a huge chunk of this market size given the potential adoption curve for its revolutionary blockchain-based betting platform.

This could mean demand and possible price buoyance for $CHANCER. As noted earlier, the token’s price is primed to jump from $0.011 in the current presale phase to $0.012 and eventually to $0.021. If the macro conditions align for a bull market, price targets in 2024 could include $1.

However, it’s good to note the unpredictability of markets, particularly the nascent crypto industry.

What’s likely to boost $CHANCER’s price?

An upbeat sentiment across the risk asset markets has seen increased bets for a bullish flip for Bitcoin and other cryptocurrencies. According to analysts at Pantera Capital, there are several potential positive catalysts for BTC price.

It includes the benchmark crypto’s next halving expected on April 20, 2024, regulatory clarity and potential win for Ripple and the broader crypto industry.

In its ‘A **positive** black swan’ piece published on Wednesday, Pantera states that a repeat of historical performance for Bitcoin as seen ahead of and after its block reward halving could see prices reach $35k pre-halving before skyrocketing to $148k amid post-halving buy-side pressure.

Approval for BlackRock’s spot ETF and a possible win for XRP against the SEC could add to the upside momentum, not just for Bitcoin but across the crypto market. BTC rocketing to a new all-time high and the broader digital assets market ripping higher could be the perfect setup for $CHANCER in the second half of 2024.