A lot of people consider Bitcoin almost dead. They say it will never get back to the highs it was before. This, of course, influences the cryptocurrency gambling as well. And it is not something that we should wonder about. When the price fluctuates so much, many people do not trust the currency. However, it is important to mention that it can happen with any fiat currency. We see that now with Venezuela. The inflation is so high, that the bolivars are worth near to nothing. Venezuelans even started to use cryptocurrency widely.
Furthermore, the cryptocurrency price is still high compared to the lowest prices of each year.
|2019||$3,527.00 (so far)|
By analyzing the data of this table we can see that Bitcoin price is still growing steadily. The big price swings were caused by many huge investors, manipulators, and overwhelmed optimism of inexperienced crypto buyers. Despite that, the lowest price of Bitcoin is still getting higher and higher. Keep in mind that 2019 has just started and we still have a lot of time to see records of Bitcoin lowest price. Some experts claim that the Bitcoin price in 2019 could touch the impressive $23,000. If this happens, the new records of the highest price would be reached.
How the Crash Affected the Market?
But let’s talk about cryptocurrency and gambling. Some players disappointed by the huge price drop and those who bought cryptocurrency converting it from fiat, they certainly faced some losses. However, the ones who hold cryptocurrency for a long time, they weren’t touched so deeply. How did this happen?
When the Bitcoin price was so high, even touching the $20,000 mark, some gamblers bought the fraction of Bitcoin. Then, they deposited it to cryptocurrency casinos. After the price went down drastically, even the players who have won and were in profits in bitcoins, sadly, were in losses after crypto coins were converted back to fiat. That negatively impacted the community of cryptocurrency gamblers and its supporters.
On the other hand, if the player calculates profits in Bitcoins or other used cryptocurrency, it should still be counted as profits. No matter if the ratio between fiat and cryptocurrency has changed.
We highly recommend calculating your profits using percents, not the currency. Also, never buy cryptos at the peak. That is the main mistake people did, that is why they lost a lot of money in the end.
Cryptocurrency, Bitcoin and Traditional Gambling in 2019
However, cryptocurrency gambling is not going away in the nearest future. Some huge casinos like BitStarz got an award of The Casino of the Year by Askgamblers. That only shows how strong this market became since the cryptocurrencies knocked in. Also, more good quality casinos appeared even after the crash. And, believe us, they are good.
Also, it is important to mention that the whole market of gambling and online casinos evolve further. The new generation casinos like Spela and Pelaa show that the industry accepts new challenges. These casinos do not require creating an account. In short, these casinos now are called No Register Casinos. They operate using Trustly and its Pay N Play technology. On the other hand, they still do not accept cryptocurrencies, but we are sure that some other brands may follow this new opportunity. It would allow much faster and convenient gambling.
The cryptocurrency market is not going somewhere down. As well as bitcoin and other cryptos gambling. It will stay because it already put his roots to the ground. There are a lot of players who do not use any other forms of payment anymore.
Furthermore, the industry develops actively. New generation casinos went into the market. We only need that cryptocurrency casinos would follow the new tendencies and innovations.
However, these huge swings of the cryptocurrency prices still do not allow taking the big part of the gambling niche. There are still more traditional casinos players. Some people became even more sceptical about the whole cryptocurrency idea. And they do not trust it anymore. The next huge price drop could damage it even worse.
Interestingly, many experts paint a very bright future for the market of cryptos, including Bitcoin, of course. It would change the situation drastically. The whole market would grow more than at the end of 2017 and the beginning of 2018. That includes Bitcoin gambling as well.
And now we have to wait. But we are sure for one – 2019 is going to be super interesting!