Cryptocurrency Exchange that is built by other people, which isn’t the same as an investment in the stock market. It is very high risk. Many individuals however, have adopted a trading strategy that is seen to reduce their risk and making it less like gambling and more like investing.
By definition, Bitcoin Trading is a form of gambling, just like any other investment is. You are putting your money down in the hope of getting a return on your investment, but you are risking the company going bankrupt or the share price plummeting. This will either pay off for you, leave you in the same position or you will end up in a worse position, just like the three outcomes when you are in an online casino.
In December 2017, the Bitcoin price peaked at $20,000. Given that Bitcoin was at $0.008 a share when it first started in 2009, anybody who invested in the beginning and held on made an incredible investment. However, it was a completely new and unknown method of trading, and all the experts warned against this form of trading, and still do today due to the volatile nature.
Within six months, the price of Bitcoin plummeted to under $6,000. As such is the volatile cryptocurrency world, Bitcoin enjoyed a $1,000 spike in value in one hour in April 2018, following announcements of new technologies behind it. Bitcoin’s recent price falls have been reflective of the cryptocurrency world as a whole, with Ethereum and Litecoin also dropping.
Some analysts are predicting that further price falls can be expected. However, speculators drive the price, and at the moment technology behind cryptocurrency is improving and speeding up transactions on the blockchain (the ledger behind cryptocurrency). Some companies are forming which only trade in cryptocurrency, such as AgeCoin for care homes for the elderly. Speculators might have cold feet at the moment, but it would not be a surprise for Bitcoin to spike up to near $20,000 the more we hear about new technology world if there is a rush to buy.
In conclusion, Bitcoin can definitely be considered gambling. The spike in 2017 was due to worldwide interest and over 20 million people starting to trade. As interest cooled down, the price dropped significantly. Investing in Bitcoin today is a gamble, for the simple reasons that it could pay off significantly, but it could also plummet and see you losing a lot of money. In fact, for those who like to gamble, it maybe a better choice to sign up at Unibet online casino, enjoy the games and play in an environment where the odds are more in your favour.
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