The Bitcoin has been making significant gains in value over the last couple of months. It can easily be said that the cryptocurrency has been bullish from before December. The trend began being noticeable when the currency was nearing an all-time high in January including in iGaming industry. You can visit kiwicasinos.nz for more information on iGaming currencies. Analysts had different views about what the trend would be like. Some predicted that the bullish trend would quickly turn bearish. However, this has not been the case. Quite the opposite has actual occurred. The currency continued to increase in value until it went above its all-time high. It went on to exceed gold in value.
Many analysts attribute the demand for bitcoins to the presidency of Trump. Soon after the USA presidential results were announced there was a lot of bitcoin buying. Investors were running away from traditionally secure investments like gold. This was caused by the unpredictability of the then American President Elect.
However, it was only a matter of time before the leader of the world’s most powerful nation got the hang of the job. Without Trump’s careless remarks the Bitcoin seemed sturdy. It was Japan’s legalization of the currency as a payment method that has rallied the recent increase in value. Now the value of the bitcoin is above $1,700. A more than 40% increase in the last month alone. Most of this activity is people buying the cryptocurrency using Yens.
At online casinos bitcoins are among the preferred methods of payments. They have been accepted even before they were legalized in Japan. Even though there are specialist casinos that prefer to transact in Bitcoins most casinos will allow players to deposit and withdraw using bitcoins.
Even though analysts speak of the lack of cohesion within the bitcoin blockchain proponents. These influencers are all interested in making the bitcoin better. Thus instead of the split of the bitcoin that is predicted by the prophets of doom there might be a great coming together making the currency stronger.
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