Prospects of Bitcoin and Reasons for Cryptocurrency Latest Drop

The cryptocurrency market is one of the most fast-growing industries by now. More and more Bitcoin-curious people want to get into action and take the advantage of fast and secure BTC payments. Digital coins have become an integral part of our daily routine. However, the latest drop forced Bitcoin investors and traders to worry a lot. What happened to Bitcoin, and what are the prospects of crypto? Let’s take a look at the experts’ predictions.

What Happened to Bitcoin Lately?

Bitcoin, the most widespread virtual currency so far, reached the peak of its value in April 2021. Its price crossed the $60,000 line and set a new record. June 2021 appeared to be not as successful for BTC holders. The Bitcoin price decreased by half and made $29,031. Following the Bitcoin drop, other altcoins decreased in value too. Ethereum or Ether experienced a 41% fall. Its value broke under $2,000 at that period.

While casual crypto enthusiasts got pretty nervous about the situation, experts haven’t seen anything crucial about the sudden drop of digital coins. They explained that volatility has always surrounded the cryptocurrency sector. It’s just an inevitable part of the crypto experience that investors should accept.

The latest crypto drop in summer was caused by several aspects. One of the alleged reasons for the Bitcoin fall was negative statements by Elon Musk. He announced that Tesla would quit accepting crypto because of “environmental concerns.” Another possible reason relates to the latest regulations in China. The Chinese government reasserted its statutes and came up with a series of stringent regulations on digital coins and crypto trading.

Another burning question surrounding Bitcoin relates to the insolvency law, i.e., whether it is applicable for cryptocurrencies. There is no single answer by now, as the Insolvency Code rules vary in different countries. For example, in the United States, digital coins are the asset that remains the subject of the IBC regulations, despite the specific categorization of crypto.

Crypto Market Today

Experts were right saying that the Bitcoin collapse in June and July was just a temporary thing. The current price of BTC in August is over $47,000. Further growth is expected in the upcoming months. The number of industries that accept altcoins also keeps growing.

Industries that implement crypto solutions in 2021:

  • Finance
  • Food & beverage companies
  • Tourism
  • Retail
  • Aviation
  • Gambling

Bitcoin Gambling Regulations

The online gambling sector was one of the frontrunners that integrated crypto solutions. Nowadays, we witness the real boom for Bitcoin casinos. One of the leading online crypto casinos that accept Bitcoin is the Bit 7 casino. It is a reputable gambling platform with a solid reputation and positive reviews. Except for BTC, 7Bit deals with other popular cryptocurrencies: ETH, LTC, DOGE, BTCH, etc.

The popularity of crypto gambling is the result of certain factors. First of all, it is the legitimacy of Bitcoin gambling. While a lot of regions hold a ban on gambling activities, present-day players may gamble online at BTC casinos on a legal basis.

Other reasons why people prefer to play at casinos with Bitcoins are safety and anonymity. BTC payments run on the decentralized blockchain network. It is independent of authorities and 100% protected from fraud.

Finally, Bitcoin has revolutionized the gambling niche due to instant transactions. Speed makes modern players choose Bitcoin casinos over ordinary venues. Besides, crypto casino enthusiasts may finally forget about irrational fees on their winnings.

Prospects of Bitcoin

Just like any other currency, Bitcoin may experience ups and downs. Still, digital coins proved their stability over the years and even successfully survived the global pandemic 2020-2021. Nowadays, there exist many trusted exchange services to buy crypto, such as Coinbase. There is no need to be a tech-savvy genius to learn how the crypto space works.

Today, Bitcoin is widely used in multiple areas. People may buy food, pay for services, and enjoy their favorite casino games with crypto. For everyone who wants to evaluate the merits of crypto gambling, this site offers a vast collection of popular BTC casino games to any taste. Here you may play online slots and table games with Bitcoin.

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