Great news for bitcoin betting enthusiasts, traders, investors and users throughout the world! The last couple of weeks have brought on further volatility for the bitcoin price, yet luckily, all of it was positive for the value of the coin.
In fact, Bitcoin has just managed to hit a new-all time high on the 21st of October, thus breaking the $6,000 threshold and reaching the high value of $6,147.
At this time, economic analysts believe that the rise in price can be attributed to the possible upcoming fork on the bitcoin network. If the fork does indeed happen, this will lead to the creation of an entirely new and separate currency known as bitcoin gold, much like how bitcoin cash appeared a while back. However, while the network will likely split, bitcoin users throughout the world will also be given an equal balance in bitcoin gold, which is essentially free money, therefore great news! This has led to rising investor interest and higher trading volumes for the digital currency, which is quite understandable given the recent events on the market.
However, many doubters of bitcoin are unable to understand how the digital currency continues to rise in value given the fact that it has been affected by some negative news lately. After all, a couple of countries decided to tax bitcoin-based purchases and trading, whereas others discouraged the use of the digital currency, stating that it is non-regulated and can, therefore, lead to high risks and large losses in case something negative happens on the network. However, most people who have invested in the digital currency are well-aware of its risks, and the recent increases in terms of value in the year of 2017 have showcased that volatility is no longer a negative issue, as it has led to higher and higher prices.
Another great aspect is that there are several reports stating that it is possible for China to go ahead and reverse the ban that they have recently made on digital currency exchanges in the region, therefore leading to even higher trading activity, and of course, a higher value for the coin.
For bitcoin casino users, this has pretty large implications! Firstly, when it comes down to depositing, as the value is higher, less of the coin has to be deposited in order to play. Not only this, but in case you are storing bitcoin, its value has increased even more, thus also giving people access to free money which can be used in bitcoin casinos.
Based on everything that has been outlined so far, how happy are you with the recent bitcoin price increases? Let us know your thoughts in the comment section below.