Bitcoin’s rise the past few weeks has seen the cryptocurrency usher in a new dawn when it comes to financial investments. Bitcoin also has very strong ties with the online gambling industry a sector that’s been one of the very first to see its full potential. At the time of writing one Bitcoin traded at $12,500 per coin and it doesn’t look like slacking off at any time.
In 2016 experts predicted that the crypto would trade at $3,000 by the end of 2017, the way it’s going now it might punch the $40k mark at the end of 2018. It’s important not to get ahead of oneself and to keep a realistic outlook on all things crypto, thing is no one knows how long Bitcoin’s incredible ride will continue. It’s hard to believe that the crypto traded at $1,000 at the beginning of this year, it’s grown by more than 1,200%.
Bitcoin’s Upward Trend
Despite Bitcoin’s ride skeptics believe that it’s still too good to be true and that the bubble might pop at any time. However, investors and analysis are now turning their gaze towards the next $10,000 milestone.
As the Bitcoin market continues to mature normal folk will continue to pour money into it. Bitcoin’s biggest critic, JP Morgan’s Jamie Dimon said that it’s a ‘fraud’, the irony of it all is that JP Morgan now offers a Bitcoin and cryptocurrency asset trading platform to its clients.
”Bitcoin’s current price increase will encourage more investors to abandon their traditional investment paradigms in favour of a more open-minded approach.”
Although Bitcoin’s current growth is nothing short of remarkable it experienced a few bumps in the road. To a degree it’s still marred by volatility when compared to fiat currencies, in response to a changing market eco system it can still swing aggressively in both directions (up or down).
Little more than a week ago Bitcoin burst through $9,000 due to the elimination of certain factors associated with the previous hard fork. South Korea’s exchanges have warmed towards Bitcoin which caused it to trade ahead of the international market average. The same scenario applies to Zimbabwe, the country has been gripped by economical and political uncertainty which prompted investors in the country to invest heavily in Bitcoin.
Bitcoin’s launch by CME has brought on an influx of institutional money into it. Your average Joe and Sally on the street are flocking to Bitcoin exchanges before the biggest international investors drive its price out of reach.
Alistair Milne of the Atlanta Digital Currency Fund said the past 24 hours more than 100,000 new users joined Coinbase. Bitcoin’s sharp rise is the result why people started to invest heavily into it. Coinbase’s client base doubled in 2017 tipping the scales at 11.9 million.
Coping With The Surge
The demand for Bitcoin has never been higher, hundreds of thousands of new users will cause it to explode eventually. Less than 0.5% of the global population has ventured into the cryptcurrency arena.
Online Bitcoin Casinos offer their clients a blend of the best games (Provably Fair), slicker and quicker cash outs and an overall improved gambling experience. Suffice to say that Bitcoin has blazed a new trail in the industry. Within the next year or so we expect that Bitcoin Casinos will offer other digital currencies as deposit and withdrawal methods causing cryptos to become widespread.
In summary. If we have to bet on a cryptocurrency at the moment it will be Bitcoin, here’s why. It’s the biggest crypto at the moment and it’s making a lot of progress in the online casino and business world right now. Despite the scaling debates the backbone of the Bitcoin economy is growing stronger by the day.