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Everyone is watching the cryptocurrency markets with hot anticipation right now. The Bitcoin halving (which takes place every four years) was planned, but it still led to wild speculation leading up to it.
Essentially, the event means that the rewards miners receive on the blockchain have decreased by half. The purpose of this was to maintain the scarcity of Bitcoin by counteracting inflation.
Previously these halving events led to many nervous investors and jitters within the markets. This time around, Bitcoin is at an all-time high and has also spurred on the value of other cryptocurrencies.
Increased investor interest
This recent BTC halving has had a seismic impact on people's willingness to use cryptocurrencies to play at online casinos. The fact that crypto is a very convenient payment method, has great security, provides privacy and anonymity is persuading more people to give online crypto gambling a go and try their luck.
Not only that, with this crazy bull market, investor confidence is buoyed. The possibility of combining the fun of gambling with the potential to make money on the increase in crypto values is a massive draw.
As a result, there is now increased competition amongst online casinos to capitalize on these bullish market conditions. Players can expect to see some pretty good welcome bonuses such as those on offer right now from Betiro.com as casinos jostle for new players.
Broader audiences
Another fundamental shift that is emerging is the wider variety of demographics now playing at online casinos. Additionally, the massive amount of publicity that went with the BTC halving event in news media around the world has likely attracted the attention of a greater range of gamblers.
Many of these gamblers were perhaps already playing at online casinos but maybe did not use crypto for deposits and withdrawals. However, it appears that more of these people are converting to cryptos. A big part of the new appeal of crypto gambling lies in the fact that players can wager a small amount of BTC but make potentially greater yields due to price fluctuations.
Expansion of online casino tech
A further factor that seems to be influencing the shift to crypto gambling right now in this bullish market is how casinos have adapted. One big part of this change is the increased number of online casinos that are embracing cryptocurrencies.
Another is the investment in technologies that facilitate the integration of Decentralized Finance (DeFi) and provably-fair blockchain systems. Furthermore, casinos are upping their game to stay at gaming's cutting-edge — all to increase customer satisfaction and gaming experience. An example is the investment in Virtual Reality (VR) experiences, which has become very appealing, especially to the younger generation of gamblers.
Keep a watchful eye
That being said, it still remains prudent to keep a close eye on what is happening in the crypto markets. There is always the potential for extreme market volatility in such a dynamic ecosystem.
Furthermore, as governments begin to understand more that cryptocurrencies look like they have become entrenched in global finance, this invariably means that regulatory landscapes will change. This would obviously apply to casinos, especially as so many are now embracing crypto payments.
Therefore, always ensure that whichever casino you choose to play at is properly licensed. Doing so ensures that you and your money are suitably protected.
Predictions
While it is never easy to always make accurate investment predictions, it is safe to say that, for investors, this BTC-induced bull market is an exciting period to be in right now. We say keep your eyes peeled and your ears open as the ever-changing market conditions will have a ripple effect on crypto gambling. Watch this space!
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.