Decentralized betting platform Polymarket has enabled a new feature that allows users to bet on the direction of Bitcoin (BTC) price in five-minute intervals.
This bet aims to attract participants interested in short-term volatility and offers contracts focused on: Will Bitcoin go above or below a certain price? in an extremely short period of time.
This system converts market fluctuations into instant solution scenarios that combine elements of technical analysis with high randomness.
How does Bitcoin betting work?
Bets at Polymarket are based on a direct question: Will the price of Bitcoin rise or fall in the next 5 minute block?
The market opens for example from 10:00 to 10:05. If the price at the end of the interval is greater than or equal to the first price, YES is a win, representing an increase. If it’s less than that, NO wins.
Unlike traditional trading in the crypto asset market, where profitability is proportional to price movements, in this format the results are absolute and closed.
If the prediction is correct, the value of the contract reaches $1, but if the prediction is wrong, the value of the contract instantly drops to zero. The user’s profit comes from the $1 difference between the purchase price and the final value.This means that your invested capital is fully at risk in each short-term operation.
As explained by Criptopedia (CriptoNoticias’ Education section), Polymarket, founded in 2020, uses smart contracts to automate transactions between different tokens and manage user interactions.
When betting on the price of Bitcoin, Polymarket uses the Chainlink oracle network to provide you with the exact price of Bitcoin at the end of each contract.
