Since the beginning of the year, the bitcoin rate has increased by 28%. Bitcoin is up more than 28%, the best gain for the first month of the year since a 31% gain in 2020 before the pandemic began. It is noted that Bitcoin is showing the best monthly performance since October 2021.
According to CoinGecko, Ethereum is also up 29% this year, helping push the value of the total global cryptocurrency market to over $1 trillion.
“After a difficult last year for cryptocurrencies, we are seeing some form of mean reversion,” Bespoke Investment Group analyst Jake Gordon said, referring to the theory of asset prices returning to long-term averages.
Investors’ bets on a rosier macroeconomic picture led to a jump in riskier assets around the world, researchers said.
“Few cryptocurrencies have gained more than bonk, which launched in late December on the Solana blockchain and was up 5,000% by early January. It has since declined, although it is up 910% year-to-date.
It is the latest entrant in the hypervolatile world of meme coins, cryptocurrencies inspired by online memes and jokes, and is modeled after dogecoin, which was made famous by Elon Musk’s tweets,” the agency wrote.
Even at its peak, Bonk was worth just $0.000004873759 with a market cap of around $205 million. Other meme tokens also rose, with dogecoin and Shiba Inu up 19% and 27% respectively in 2023. According to Coindesk, as of 12:50 Kyiv time, Bitcoin was trading at $21,124, Ethereum at $1,562.
What Can You Do With Bitcoin In 2023?
If you buy and sell cryptocurrency as a trader, then you probably know very well what to do with Bitcoin. But if you ever bought this cryptocurrency as an experiment, a joke, or just on the wave of hype, you may think that Bitcoin should be used somehow. And here are some tips from us on how to do it.
- The first option: to pay for some services or goods. In Europe, America and Australia, there are a large number of services that accept payment in Bitcoin, and the rate will be very profitable.
- Option two: spend that money on entertainment. For example, you can use this money for deposits in one of the licensed online casinos. Let’s talk in more detail about how online bitcoin casinos work. And if you immediately liked this idea, then choose a good casino brand and list Bitcoin casino Australia from the online casino hub.
How Do Bitcoin Casinos Work?
There are online casinos that only use bitcoins, which means that the funds transferred to the player’s account are done in bitcoins and the rewards are withdrawn in the same way. A large number of Bitcoin-only online casinos develop their own software for online gaming and gain the trust of players by revealing how their algorithms work or through peer-to-peer referrals.
Other online casinos offer Bitcoin as a legal tender on their cash platform, along with US dollars, Euros and others. – however, it will be a long time before bitcoin casinos catch up to the popularity of land-based casinos. While poker seems to be the game of choice at bitcoin casinos, hundreds of other casino games are also available on these sites, including online -slots, roulette, video poker, blackjack, etc.
The advantage of both bitcoin casinos is that they are anonymous. If you value your privacy, then this will be the perfect solution for you. Moreover, you will be able to multiply your bitcoins thanks to bonuses and winnings. If Bitcoin continues its upward trend, it could be really profitable.
Disclaimer: The above references an opinion of the author and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Invest responsibly and never invest more than you can afford to lose.
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