Bitcoin Reaches $2,000: What Bettors Should KnowMay 22, 2017

Bitcoin Reaches $2,000: What Bettors Should Know

Bitcoin continues to break its record this year as it went pass the $2,000 mark. This is due to several factors, including the increase in trading volume in the Asian trading scene.

With Bitcoin at $2,000, bettors who use Bitcoin are sure to enjoy the different gambling sites that accept Bitcoin. Thanks to the high conversion rate, players can expect a good value on any payout they win in most Bitcoin casino and gambling sites.

Cause of the price increase

The skyrocketing price of Bitcoin can be due to the increased interest of the Asian traders in the digital currency. About 55 percent of the recent trading comes from Japan. Last Thursday, the volume share was only 40 percent.

Bitcoin price reached $2,000

In Hong Kong, the Bitfinex exchange saw an increase in price which became close to the current international rate. The reason for this growth is the expectations of the locals that the digital currency can be easily turned to US dollars.

The growing interesting in Bitcoin is also attributed to the falling stock prices. The factors that can be affecting stocks could be the political turmoil occurring around the world.

Brazil was having political issues with its president, who was allowing bribes to get the upper hand in a corruption case.  Moreover, one such even is in the firing of the FBI director, James Comey. This has led to much friction with the Trump administration and had led to the decrease of the S&P 500 last Wednesday.

For many stock investors, Bitcoin was a financial lifeboat. The digital currency offers a safe haven for many investors in Asia. Other investors also took refuge with gold. Recently, there was a two-percent increase in gold futures.

Bitcoin opportunities

With Bitcoin going pass the $2,000 mark, casino players will have a good motivation to win a sizable payout in any game. Bitcoin slots that had a jackpot of about 3 BTC might only be worth $2,700 back in February. Today, that jackpot is worth $6,000. With the current trend in Bitcoin where there is a very low chance for the price to stop the increase, players might expect their jackpot value to reach $10,000 by the end of 2017.

There are many casino games that have a progressive jackpot with a high payout. One of which is the Mega Moolah slot from Microgaming. Betsoft Gaming also has a collection of progressive 3D slots such as its popular Greedy Goblins.

Players do not have to limit themselves with slots or casino games. There are other avenues that provide a better chance at a high payout. This includes skill games like the poker room tournaments at Americas Cardroom. These tournaments provide various buy-ins with high guaranteed prizes.

Likewise, those who are looking to make more Bitcoin by placing wagers on predicting different events can do so in sites like BetMoose. The Bitcoin prediction market lets players to place bets on different predictions for various subjects. This includes the outcome of a TV show or political election. Bettors can even wager on the price movement of Bitcoin.