Bitcoin Goes Nuclear Presidents Day Weekend Trading To $11,000 Mark
The recent price fluctuations in the Bitcoin Price Index has been a wild ride in recent months. New lows signaled a possible bear market, while renewed hopes of a long-term bullish run have resurfaced in recent trading activity.
As reported by PlaySlots4RealMoney.com as part of its daily cryptocurrency news, Bitcoin has rallied from an earlier decline to the tune of an 84 percent gain. Over the weekend, the Bitcoin Price Index reached $11,279.18, which was its highest level since late January. The price settled back down to $10,800 amid some profit taking from investors. The low in this roller-coaster ride was $5,947 on Feb. 6, so the recent gains have been a welcomed sight for anyone actively involved in Bitcoin investments.
The fact that the price did rebound in a rather limited trading window has eased some of the stress that the recent freefall created. However, there are still some mixed reactions among investors as to what these latest gains mean for the long-term trading cycle of this cryptocurrency. If anything, all this volatility over the past few weeks may have set a defined bottom around the $6000 mark. Even the top voices in this rapidly emerging industry are not ready to put that in writing. This also does not guarantee that the recent rebound in value marks the start of another bull run similar to 2015 through 2017 that attracted so many investors in the first place. Reaching $11,000 was viewed as a positive step forward, but the Bitcoin Price Index is still far off its trading high of close to $20,000. The key indicators moving forward will help to define the possible trading path Bitcoin takes from here.
One industry that has really embraced Bitcoin as a valued means for transferring money from one party to the next is online casino gambling. Cryptocurrency is rapidly becoming the preferred method for deposits and withdrawals from online betting accounts. This spans across a wide spectrum of online sportsbooks, racebooks for horses and casinos offering both slot machines and table games as part of its real money gambling opportunities. Setting up a new account and funding it with the use of cryptocurrency has never been easier. More and more online betting sites have incorporated Bitcoin into is banking center and actively promoting this fact in any online advertising campaigns.
As with any other type of investment, the basic concept of ‘no risk, no reward’ applies to Bitcoin and the whole cryptocurrency revolution. Change does not happen overnight. Just about every great technological innovation met with resistance in the start-up phase. This was almost always followed by concerned optimism for the new application. Following closely in the process is wide-scale acceptance. Bitcoin is entering this stage of its lifecycle which only adds value to future investments. While the Bitcoin Price Index has been a wild ride lately, the fundamentals driving this growth are firmly in place. These are the type of fundamentals that differentiate solid investment opportunities from wild speculation.
