Should Bettors Care That Bitcoin Price Reaches $10K?
Date Posted: November 29, 2017
Bitcoin has achieved another historical first by breaking through the $10,000 price barrier. The Bitcoin $10,000 price level will give punters more value for their Bitcoin sportsbook wagers if they win it.
The two fork siblings—Bitcoin Cash and Bitcoin Gold—also experienced roller coaster highs and lows throughout November. But between the two, Bitcoin Cash may still experience a boost in market value by December.
How Bitcoin price slowly reached new all-time high
People in the cryptocurrency scene simply speculated that Bitcoin will reach its previous high of more than $1,200 in 2017 last year. It did manage that level when Bitcoin broke the $1,290 mark in March this year. But, Bitcoin did not stop from going back to its previous high. Its achievement of reaching $2,000 indicates that the major cryptocurrency is not done with its upward momentum.
Bitcoin crawled toward the $4,400 level in August and eventually crossed the $5,000 price point. It went back down to $2,900 in the middle of September because of China’s crackdown on cryptocurrency exchanges and ICO. The dip was only temporary, though, since Bitcoin reached $5,600 in a month after China’s stance on Bitcoin.
Bitcoin broke through many rounded four digit numbers in November. This includes its breakthrough of the $7,000 when the Segwitx2 fork did not go through. Bitcoin took another dip in the middle of November when Bitcoin Cash and Bitcoin Gold experienced a price surge. This did not last as long as the previous dip and Bitcoin easily went back up and broke through the $8,000 levels. This can be largely related to the Zimbabwean coup d’état.
The rapid upward momentum helped push Bitcoin to go past the $9,000 mark and eventually reaching the high ceiling of $10,000. This momentum is thanks to the increasing transactions of Bitcoin and the many investors looking to enter the crypto market.
In December, it is anyone’s guess as to how far Bitcoin will fare by 2018. There is still a chance that Bitcoin may take another dip if Bitcoin Cash rises to mainstream popularity. Bitcoin sportsbook punters have a choice of cashing their crypto winnings early or bank on another price increase by 2018.
Bitcoin Cash and Bitcoin Gold: New versions to check out
Bitcoin’s rivals saw a massive gain in the middle of November. Bitcoin Cash grew to a lifetime high of more than $2,400. This is a large surge from its price during the introduction month of Bitcoin Cash where it reached as low as $200.
The price of Bitcoin Gold, on another hand, also jumped in its value to break the $480 mark. This is a significant increase from its low value of less than $100 and the age of the cryptocurrency because Gold is less than a month old.
The two Bitcoin rivals took another dip where Bitcoin Cash reached less than $800 while Bitcoin Gold trading below the $160 levels recently.
Bitcoin Cash experienced another surge to the $1,700 levels. This is due to the Bitstamp announcement of launching its Bitcoin Cash trading in its exchange platform. The upward momentum has stopped where its value is sitting at $1,400 as of this time in writing. There is a good chance the cryptocurrency will have a bullish support when Bitcoin Cash trading becomes available in Bitstamp next week.