submitted by /u/GoDapp-Official
Encrypted currency is becoming more and more mainstream, it has become so mainstream, and even sports fans have noticed it and used cryptocurrencies to participate in the quiz of sports events, including one of the biggest sports events of the year: the Super Bowl. In particular, sports fans are considering betting on Bitcoin and whether it will rise or fall over the weekend. Let's take a look at the historical performance of Bitcoin and why betting on the 2019 Super Bowl Weekend may be the next hot thing.
Bitcoin crashed in early 2018
Recall that in 2017, a lot of cryptocurrency prices rose together. The most notable growth was that Bitcoin reached a price of $17,783,06 on December 17, 2017. For many bitcoin communicators and supporters, this is considered an important step forward for cryptocurrencies. To understand why they think so, remember that Bitcoin has been a leader in the cryptocurrency market since its launch as the first cryptocurrency in 2009.
After the price soared, almost everyone who wanted to participate in Bitcoin picked up a buying spree. Unfortunately, this fanaticism and upward trend did not continue in 2018. In the month of 2018, the currency market value lost about $80 million. The strange thing is that this happens to happen in the Super Bowl time attachment. This may be a coincidence, but let us discuss and discuss this issue.
We must always consider the volatility of digital currencies. With this in mind, the other factors that led to the decline at the time were:
Facebook refuses to support ICO and cryptocurrency advertising
Subpoena against the two largest exchanges Bitfenix and Tether
Bank of America refused to support Bitcoin in February 2018
Among all four of these potential factors, Bank of America's refusal may be the most important factor. The time the Bank of America refused coincided with the Super Bowl weekend that took place in 2018. As a result of this news, the price fell more than $2,000 at the time. Such a sharp drop seems to indicate a potential correlation between the Super Bowl weekend and the bitcoin price.
Bitcoin performance in 2018
After the plunge in the first half of 2018, the price in the fall of 2018 seems to be stable at around $6,400 (and of course it has fallen once again in winter). At the same time, Ripple (XRP) and Ether rose sharply and became the world's second and third largest cryptocurrency. This means that other cryptocurrencies are moving forward; Bitcoin is still relatively stagnant. The price stability in the fall of 2018 still provides bitcoin investors with future growth and health of the currency. They are still interested in sticking to their coins.
How about the fate of Bitcoin during the Super Bowl in 2019?
Recall that during the last Super Bowl weekend, Bank of America refused to cooperate with Bitcoin. This is not a good sign for cryptocurrency holders when cryptocurrency holders consider using cryptocurrencies to purchase Super Bowl tickets.
Now, if we move fast into 2019, Bitcoin will have similar sentiments during the Super Bowl weekend. There may be reasons for this: past performance is a future indicator and an exciting trend, indicating that Sunday is the best time for cryptocurrency transactions.
What does this mean for ordinary people?
The simple answer is that they can not only bet their favorite team to win the Super Bowl, but also bet on whether Bitcoin will continue to fall during the Super Bowl weekend.
In general, the 2018 cryptocurrency is down. As we pointed out, Bitcoin's performance is not particularly good. And, with Ethereum dropping more than 90%, the performance of the altcoin is not particularly good. But it also provides a solution for betting on Bitcoin on online sports betting, which increases the value of the player's cryptocurrency and has a good chance.
Sports betting will always exist. However, there is now an additional opportunity. As sports betting revolutionizes into a more online digital environment, people can participate by adding betting on bitcoin.
——This article is from GoDapp