New York, NY (Top40 Charts) Cryptocurrency has had a fascinating and rather turbulent history. It was invented by a programmer (or group of programmers) using the pseudonym Satoshi Nakamoto in early 2009. Created by using the processing power of computers (known as mining,) it's a truly modern form of currency that obeys no national boundaries, being stored purely online. Traders can buy and sell cryptocurrencies; however, the market is known for its high volatility. This makes it an attractive proposition for both skilled and inexperienced traders who are seeking to make high returns in a short period of time.
Typically, shifts in cryptocurrencies can reach between 5-10% daily. Few other stocks and instruments fluctuate to this degree with such regularity, and it can be hard to predict even hourly movements in these markets.
In this article, two of the top trends for crypto that are expected to occur during 2024 will be outlined. There's a discussion on how online gaming (specifically the online casino sector) is moving toward crypto payments and prizes along with an exploration of the next 12 months for the leading and most well-known cryptocurrency, Bitcoin.
1. Online casinos offering crypto payments
The online casino industry is experiencing impressive market growth, with a predicted growth rate of 13.7% between 2021 and 2028. Consumers increasingly use their smartphones to gamble at sites such as https://www.stellarspins.net/en/online-pokies which offer a diverse range of slot machines, immersive gaming environments, and regulated virtual machines that use RNG algorithms to ensure that stated average payouts are obeyed over extended spins.
While many online casinos still require gamers to make deposits of traditional forms of currency (i.e., dollars, euros, etc.,) an emerging trend is that more online casinos are beginning to use cryptocurrency. Some sites now accept deposits in the form of crypto and may offer this form of currency as payment for winnings.
One of the key benefits that crypto offers consumers at online casinos is an enhanced degree of anonymity. You don't have to reveal any personal information when making deposits with crypto at many online casinos, making it ideal for gaming adults who wish to keep their personal information private. It's expected that 2024 will be the year when more online casinos start to accept cryptocurrencies as payment and as a form of winnings from their sites.
2. A positive outlook for Bitcoin
In recent years, Bitcoin has experienced turbulent times, none more so than in 2022. During this year, BTC plummeted in value from a peak of $68,000 in 2021 to a low of under $20,000 in June 2022. This month was recognized as the worst for Bitcoin since September 2011 as losses for the month amounted to 40%.
Recession and rising inflation levels along with other global geo-political factors were blamed for this spectacular crash, although in the subsequent year, Bitcoin managed to regain market confidence (while economic conditions remained challenging around the world) reaching a peak of over $41,000 in December 2023.
In 2024, the US is currently on the edge of a banking crisis and is experiencing mounting debt which could deeply impact global financial markets. If such economic factors become prominent in 2024, Bitcoin is likely to be seen as an increasingly attractive investment option which may lead to healthy rises in its value.
At present, the outlook for Bitcoin is far more positive than in 2022, and the resurgence of this currency in 2023 has demonstrated that it can weather catastrophic storms while remaining viable as a trading currency.
