If you are thinking of putting your money at stake by placing bets on the future direction of the price, then you have to understand that there is no such thing as “taking the road less traveled.” Betting always involves risks, and you would be wise to prepare yourself before betting on the future direction of the prices of BitCoins. There are many ways for you to make your deposit, and these are listed below. Online Betting:
Betting can take place on any day of the year, including September and November. In September and November, the daily price does not fluctuate too much. However, in November and December, the prices of the Bitcoins soars up. In late 2021, it hit an all-time high, before gradually declining down. In early 2021, the future predicted date for its significant decline was march, but since then, the price has been continuously on a rise.
Silk Road Betting: If you are familiar with the workings of the infamous virtual exchange, then you must be aware that the virtual currency that drives the Bit Coins is called the Silk Road Currency. The name was derived from an internet story where a character takes a journey across the Silk Road, from China to Japan to Europe to the Middle East to trade in currencies from those countries. You may remember this story from the movie “Avatar,” where two of the main characters have to travel through this road to obtain their prize. This was actually the very first instance when the bitcoins were known as the Silk Road Currency. In August and September, the value of the bitcoin increased tremendously due to the high value of the precious metal, which was known then as the pound of gold.
MTGox Betting: One of the most popular international money transfer services in the world today happens to be MtGox. MtGox is a well-known trading house that handles millions of dollars each day in transactions. This service was created back in the year 2021, and since then, it has grown to become one of the leading exchanges. Recently, the exchange rate between the US dollar and the Japanese yen reached an all time high of more than $5 billion per day, and this record was set in November, at which time many people began to speculate that perhaps the exchange rate would set another all time high, hence the million US dollars that were traded on the day.
The Price Goes Up: Then, things got really interesting when the value of the bitcoin reached a then all time high of nearly eight hundred US dollars. This was a remarkable increase from the previous week, which saw the value of the currency drop to just under six hundred US dollars. hotgraph Then, in mid-march, the value of the btc price went up by almost fifty percent, which is considered to be a significant hike. It is important to note that the increase was primarily in Japanese Yen, which is the major currency used around the world, but it is important to understand that the US dollar is not going to go away anytime soon, so technically, trading the currency may not have been worth it. However, this was a good chance for investors to buy into the trend, as the investment value was very high.
The Price Dips: Following the weekend’s big jump, the value of the bitcoin dropped off. Most traders attributed this dip to the fact that the Chinese government had released some restrictions on virtual currencies, including the use of the Japanese yen and the American dollar. Many traders also noted that the government was considering closing down all online trading platforms that allow for trading digital currency, which could hurt the value of the bitcoin significantly, but the market has since bounced back and shows no sign of stopping any time soon.
