If you’re involved with Bitcoin, and other cryptocurrencies, it can become frustrating as you watch the prices and values fluctuate. Having hit an all-time high of $65,000, Bitcoin is now trading back around the $20,000 mark. This appears to be the magical value that, when reached, investors begin to feel more secure. So, what is it that leads to the huge variance in values, and what can be expected of the price of Bitcoin going forward? Well, as we’ll see October is an exciting time for investors and it’s the time when Bitcoin will be on the up. Let’s take a look at why.
A rise in practical uses
When Bitcoin first emerged there was a degree of excitement but this was followed by a sense of disappointment. Yes, this new decentralized currency was showing a great deal of promise but, at the time, there was no real use for it. What led to Bitcoin’s value increasing is the fact that it entered the mainstream and people could find ways of actually using it, rather than just holding it.
The likes of Tesla announced its intention to accept Bitcoin as a form of payment for its cars and then top names such as PayPal and Microsoft aligned themselves with crypto. We’re now at the stage where we can even use this as a form of payment at online casinos and the number of Bitcoin slots is continually expanding. In fact, as you’ll see by following the link, there is much more available than just slot games. You can enjoy the full range of casino games, such as blackjack, poker, baccarat and roulette, all while using Bitcoin as your deposit and withdrawal method.
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A look at ‘Uptober’
If you’ve not heard of ‘Uptober’ you can be sure that you’re not alone. This refers to the pattern that has been witnessed when it comes to Bitcoin and what happens during the month of October. As the name suggests, this is a time when its value tends to be on the up. In fact, it was during this month that the cryptocurrency hit its record value.
That’s why October is such a great time for investors. It’s the month when they see their investments reach much higher levels but, historically, they’ve had to then watch a form of price correction in the months that follow. However, this is something that is set to change.
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The end of volatility
The dramatic ups and downs of Bitcoin’s value are something that has put some investors off. The reality now is that this is all set to change. With Bitcoin becoming more and more accepted this means that the days of extreme volatility will come to an end. While this may mean that the value hits a natural ceiling it also means that investors should be protected from some of the extreme losses that have been experienced in the best.
The fact of the matter is that the future of Bitcoin is set to be a great one. Those who have already got involved are likely to see a highly impressive return on investment.