Bitcoin continues to break new records after a slump in September as it hit $6,000. Bitcoin Cash is holding steady around the $300 to $360 price mark.
Bitcoin crossed the $6,000 line over the weekend after a strong dip to $5,100 last week. And the continued bullish trend can be due to the rise in Japan and Korea’s accommodation of cryptocurrency.
On another hand, Bitcoin Cash is currently stable within the $300 to $360 price range. But because of its young age, only a few Bitcoin casinos accept it as one of the payment methods. Despite this, more casinos have started to accept Bitcoin Cash, along with Bitcoin.
Where to play using Bitcoin and Bitcoin Cash?
Bitcoin remains to be the most successful cryptocurrency and is evidently the most used in the iGaming market. In fact, the Bitcoin casino market continues to grow as more online casinos begin to add Bitcoin to their list of supported payment methods.
Here are some of the top Bitcoin casinos today:
- FortuneJack – This online casino is the go-to site of players who want to use bitcoins and altcoins as their bankroll. After all, FortuneJack accepts cryptocurrencies only. It comes with a bevy of bonuses paired with a wide roster of games from Microgaming, Endorphina, and iSoftBet, to name a few.
- Slots.com – Designed for mobile gaming, Slots.com is every player’s answer for a quick and mobile-friendly casino. It features top games from Realtime Gaming.
- BitStarz – Players will enjoy the best of both worlds as they can place bets in real money and Bitcoin in this casino. BitStarz also gives away huge bonuses and holds exciting promotions.
Players who prefer to use Bitcoin Cash should check out these casinos:
- Betcoin.ag – Not only does this casino accept Bitcoin Cash, it also supports Ethereum and other altcoins like Litecoin, Dash, and Ripple.
- Bitcoin Games – This Bitcoin casino allows players to deposit any altcoin supported by ShapeShift. Bitcoin Cash is one of those, giving bettors the option to use this cryptocurrency.
Factors that push Bitcoin to make a new record
Bitcoin broke its own record last week by reaching the $5,000 mark. There were many drivers to Bitcoin reaching this level, and this includes the growing acceptance of Bitcoin in other countries like Japan.
According to CryptoCompare, Chinese traders who use Yuan decreased by about five percent of total trades during the past month. This is due to China’s antagonistic attitude toward Bitcoin and cryptocurrencies. Last month, China banned Bitcoin and every ICO in the country. This led to Bitcoin prices going down to around $3,600.
Japan is one of the rising Bitcoin markets due to the country’s proactive stance in adopting the cryptocurrency. Japan started recognizing Bitcoin as a legal payment option when the country set its regulation law in April. To attract locals and foreign investors to its country’s exchanges, these sites have a zero-fee trading policy.
Traders who use Yen consist of 51 percent of the total trade market. This makes them the largest driver of Bitcoin prices. The second driver to Bitcoin prices is traders who use US dollars and they consist of 31 percent of the total trades market.
Bitcoin prices might continue to reach $7,000 or more even with the looming hard fork. This makes payouts as well as jackpots from casinos worth more than before.
Bitcoin Cash still needs to prove its market worth
Bitcoin Cash is the upgrade to the original Bitcoin and is the answer to Bitcoin’s scaling problem by increasing the block size from one megabyte to eight megabytes. This allows for quick transactions processed in a single day.
While Bitcoin Cash achieved an incredible record when it reached the $970 price level back in August, the currency is still in a price discovery period. There are fewer stores, casinos and other businesses that accept Bitcoin Cash.
The stagnant price movement indicates that there is no buying support from the usual bulls. Few traders are also selling their share of the cryptocurrency. It is, therefore, possible that everyone is on the fence in trading Bitcoin Cash to see how the next Bitcoin fork will affect both cryptocurrencies.