Categories: CryptoNews

Will Bitcoin’s Price Volatility Ever Calm Down?

While the huge reach and endless benefits of Bitcoin are undisputed, it’s the cryptocurrency’s volatility that has kept it from enjoying a greater global take-up.

Last month saw another massive drop in Bitcoin that saw $4 billion wiped off the cryptocurrency’s value. And although the price of Bitcoin has rallied in the following weeks, it provides sceptics with another reason why to be hesitant over implementing the Bitcoin into their financial operations.

The drop in value was all the more startling as it went against trends that suggested that Bitcoin was starting to become more accepted by large government and financial institutions.

With the likes of Japan legalising Bitcoin for digital payments, and investors in other Asian nations like Korea helping to boost liquidity into the cryptocurrency, it seemed that Bitcoin was poised for another record-breaking year.

But the sudden value drop in May shows that Bitcoin needs to stabilize as a currency, and it’s only through implementation among recognized brands that it’s going to give consumers the security that’s essential for widespread use.

Related Post

Brands as far-ranging as gaming companies like Steam and coffee chains like Starbucks have already adopted Bitcoin technologies. And whilst the casino games like Irish Riches featured at New Jersey Online Casinos currently don’t offer Bitcoin payments, it’s easy to see how the cryptocurrency’s log of traceable transactions could help add an extra level of security.

Despite these obvious benefits, there’s still something of a negative perception about Bitcoin. With its popularity being linked to illegal purchases on the now defunct Silk Road, it faces something of a battle in attempting to reverse its public image.

Thankfully it seems that there’s a growing range of companies and institutions who are putting their energies behind stabilizing Bitcoin. Just last week, the bank, Barclays, made fresh demands that UK regulators attempt to bring the cryptocurrency into mainstream use.

Whilst attempting to regulate a decentralized currency are always going to go against the central concepts of Bitcoin’s ethos, it’s evident that a degree of compromise on both sides are necessary in order for Bitcoin to truly find mainstream acceptance and stabilize its price volatility.

But with places like Kreuzberg in Berlin being packed with small businesses that accept Bitcoin as a mobile payment method, it looks like we’ll hopefully be able to play casino games like Irish Riches with all of the security and convenience that Bitcoin offers very soon.

Mark Arguinbaev

I'm a 29 year old cryptocurrency entrepreneur. I was introduced to Bitcoin in 2013 and have been involved with it ever since. Fun Fact: I mined cryptocurrency using my college dorm room's free electricity.

Share
Published by
Mark Arguinbaev

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

6 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

7 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

8 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

8 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

11 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

12 hours ago