After slumbering for the past few years, the price of a single Bitcoin has shot up to the margins of $20,000 again earlier this week. The sudden increase has kept both analysts and investors busy to speculate the future potential of the cryptocurrency. With the cryptocurrency’s comeback, bettors have found a new and exciting avenue to wager on. They can now bet on the world’s most expensive cryptocurrency through one of the leading online betting sites in the United States.
From this betting opportunity on Bitcoin, you can win really big as Bitcoin is likely to hit a new all-time high in the coming days.
Bitcoin’s Crosses $19,000 for the First Time in Years
Back in December 2017 after months of staying below $10,000, the Bitcoin price began skyrocketing. By December 16, a single Bitcoin had hit $19,891, turning the lives of many individuals who had the temerity to purchase it in the previous years.
However, shortly afterwards, the trend seemed to reverse. Ironically, the reverse trend was as intense as the trend was recorded in December 2017. Within a few years, Bitcoin’s free-fall led its value to less than $4,000. The resulting situation perturbed many who owned it and led all to conclude that cryptocurrency was some sort of scam that would never soar again.
However, Bitcoin’s latest price, surpassing the $19,000 mark, refutes all those claims. Interestingly, even the new price has confused investors who own the digital currency on whether or not they should withdraw their money.
PayPal’s Trading Scheme Might Have Helped
It is likely that Paypal’s views toward cryptocurrency trading have pushed this price increase. Recently, the California-based online payment processing company suggested the idea of integrating Bitcoin. PayPal now allows its almost 300 million customers to purchase different types of cryptocurrencies.
Bitcoin’s price increase also trickled down effect into other cryptocurrencies, which also saw a price surge. Ethereum, Litecoin, and XRP have witnessed a significant boost in their prices lately. However, it is beyond prediction how long this price will remain stable.
Here’s How to Bet on Bitcoin’s Price
It is not possible to precisely predict Bitcoin’s price in the near future. Some experts say it will go further high to break the previous record before plummeting once again. Others believe the price will continue to increase insanely for weeks to come.
Whatever is to happen will continue to unravel. Meanwhile, Bovada decides to utilize this interesting uncertainty to the advantage of its members. The website is known for offering odds on a broad range of different betting options. It now extends its member the option to bet on Bitcoin’s price online via its popular online betting platform.
One of the most placed wagers on Bovada nowadays is whether or not the Bitcoin price will fluctuate between 8 PM ET and 10 PM ET today. The odds are dead even at -115 for each bet. The price can change abruptly, making this somewhat unpredictable. More of these kinds of wagers are likely to be available over the next few weeks, and the options could pay off hugely.