According to Kalshi bettors, Bitcoin is predicted to reach $100,000 by the end of the year.

• By year's end, bitcoin could top $100,000, according to sixty-percent of Kalshi bettors.
• This month, 45% of users predicted that the cryptocurrency would reach its target.
• On Monday, Bitcoin experienced a 10% increase in value, reaching a trading price of approximately $89,000.

The cryptocurrency is currently trading near record levels, and Kalshi users are placing bets that it will surpass $100,000 by the end of 2024.

On Tuesday, according to Kalshi data, 60% of users predicted that bitcoin would reach the $100,000 mark before January, while 45% believed it would occur this month.

In 2021, Kalshi was launched as an event contract market, allowing traders to bet on events such as economic data releases and election results. This year, the platform gained notoriety due to its legal battle against the Commodity Futures Trading Commission, which ultimately led to the opening of betting markets for the presidential election to U.S. traders prior to last week's vote.

Since the U.S. presidential election last Tuesday, the digital currency has experienced a significant increase of over 28%. The election results have been viewed as positive for cryptocurrencies, as President-elect Donald Trump has expressed his support for the industry and promised to implement more favorable regulations.

Despite the volatility of prediction markets before the election, they were generally more optimistic about Trump's chances than traditional polling. However, odds and gambling platforms employ different methodologies than traditional political polling, making them inaccurate substitutes for political polls.

According to Coin Metrics, Bitcoin was trading at approximately $89,000 on Tuesday, following a 10% increase on Monday that brought it close to $90,000.

"Bitcoin prices may reach the six-figure mark by the end of this year, according to Mike Colonnese, an analyst at H.C. Wainwright. This is due to the strong positive sentiment that is likely to persist through 2024, following the all-time highs that Bitcoin broke through early last Wednesday morning when it was officially declared that Trump won the election."

— CNBC's Tanaya Macheel contributed to this report.