Bitcoin has been the ultimate rollercoaster over the past few years, rising and falling on a regular basis, and investors have had a hard time getting a handle on when to buy and sell the cryptocurrency.
Bitcoin has been the ultimate rollercoaster over the past few years, rising and falling on a regular basis, and investors have had a hard time getting a handle on when to buy and sell the cryptocurrency. Bitcoin has proven to be an extremely reliable way to send and receive money to companies and individuals, but it has not yet proven to be a safe haven for investors. Bitcoin is oftentimes referred to as digital gold, but it has had far more ups and downs than gold in terms of an investment. The question is whether or not Bitcoin will eventually be a safe haven for investors?
If you invested in Bitcoin when it was at just $3,000 then Bitcoin has already proven to be a very good investment, but if you got in on Bitcoin when it was up near $20,000 then you have lost quite a bit of money. Bitcoin has simply not been consistent enough to be trusted as a safe haven for investors. That, however, could change in the future. This past week was one in which the price of Bitcoin didn’t have as much volatility and there were some signs that investors are starting to hold Bitcoin instead of trade it.
What is a Safe Haven?
To determine whether or not Bitcoin can be a safe haven we first have to define what a safe haven actually is. A safe haven for investors is something that can withstand a crisis. That means when everything is falling down around it, the asset will hold up. We don’t yet know if Bitcoin can be a safe haven because there has yet to be a severe financial crisis since Bitcoin came on the scene.
Bitcoin has been extremely volatile over the past three years, but it really never faced pressure in terms of a financial crisis. The cryptocurrency went up and down in price because of speculation, profit taking and because of other external factors. The price was not impacted because of a severe world financial crisis. It will be interesting to see how the price of Bitcoin is impacted when there is truly a world financial problem.
Reliable Payment Method
One thing we do know is that Bitcoin has proven to be extremely reliable in terms of a payment method. More people than ever are using Bitcoin to send and receive money. There are people who are starting to look at Bitcoin as an investment, but the real winners for those involved in Bitcoin have been those people who use it to send and receive money. Do you remember the time when Neteller was the way that people sent money to online sportsbooks? The difference between Neteller and Bitcoin is that Bitcoin is not controlled by any central authority and it won’t cave in to the government like Neteller did. Now there are very few people who use Neteller to do anything, while millions of people use Bitcoin on a regular basis.
There are a plethora of major companies that are now using Bitcoin as a payment method including AT&T, Microsoft, Expedia and online sportsbook BookMaker. There is no question that Bitcoin has proven to be a reliable way to send and receive funds and to purchase goods and services. There is no longer a need to deal with money orders, wires, credit cards and other payment methods because cryptocurrency payment methods are far more reliable. There is no more worrying about whether or not a credit card will go through as a payment method. When you send Bitcoin to the online sportsbook you can rest assured that the transaction will go through. And that applies both ways, to sending to the sportsbook and to withdrawals from the sportsbook. There is no question that cryptocurrency choices have made depositing and withdrawing money at the online sportsbook much easier.
Check out the latest cryptocurrency payment methods available at the online sportsbook today.