Let’s face it if you use Bitcoin then volatility is something you are fully aware of, and will probably at one time or another have benefitted from the rise in value of that crypto-currency.
But it is usually the case that some type of worldwide incident can and very often does instantly and very noticeably have a positive or negative impact of the value of Bitcoin, and that was certainly the case last week with powers that be in China very publically stating that they will be shutting down Bitcoin Exchanges.
After that announcement the value of Bitcoin began to crash, however savvy users of that currency are well versed in such occurrences and wouldn’t have been in too much of a hurry to cash in their Bitcoin holdings.
In fact, it has taken around a week for the value of Bitcoin to bounce back, so anyone who did panic and sell their holding would now be regretting taking that decision, and as a user or investor in Bitcoin you do need to have guts and balls of steel to allow you to handle the rough with the smooth!
Yesterday evening Bitcoin was trading at around $4,200 and there are many speculators who are convinced that the value of Bitcoin is going to now continue on this upwards curve and in the very near future will achieve a value of $6000 or even higher.
You may hay have heard Jamie Dimon last month say that Bitcoin was a huge fraud and was experiencing a bubble in its value, and would eventually completely crash leaving lots of people seriously out of pocket.
However, many people are dismissing his words, for he is of course a banker, and they are, as recent history has proven without a shadow of a doubt, not the savviest of financial experts!
Online Gamblers Love Using Bitcoin
Despite its volatility, the number of people who prefer using Bitcoin as the means to allow them to fund online gambling activities is on the increase.
The sheer fact that anyone can use Bitcoin and anonymously move their money into and out of many different types of gambling sites does appeal to a growing number of gamblers, who have often shied away from using their bank accounts, credit cards and debit cards as the way they fund their gambling activities directly.
In fact, by using Bitcoin they are also able to profit when the value increases against their home currency, and by keeping their bankrolls in a Bitcoin Wallet they are then free to use those funds or even cash them out seamlessly and anonymously at any time of their own choosing too.