Whether you’re a Cryptocurrency investor or not, the chances are that Bitcoin and other digital currency types have hit your radar this month. Although people have been aware of digital currency and the opportunity to dabble in it as an investment for some time, it is really this week that it has hit more mainstream headlines than ever, and not for the right reasons.
The Change in Bitcoin Price
Anyone that has an interest in Bitcoin investment will be well aware of the fluctuating prices – in fact, it is the big rises that have encouraged many people to buy, hoping for a repeat performance. However, in a similar way that Bitcoin prices dramatically reduced in 2018, the same has happened over the past few months. For many people, Bitcoin has reached lows that they have never seen before & it is safe to say that plenty of people have lost money with these falls in recent weeks;
Can You Still Spend Bitcoin?
Although there are mixed opinions on what you should do with Bitcoin, the general consensus is not to just cut your losses and sell up. Most that have invested in this finance option have accepted that it is a longer-term investment and, therefore, something that they should hold onto rather than sell up. However, if you do want to spend Bitcoin, then there are plenty of places you can do so – there are loads of online crypto games, for example. Online casinos have always been quick to jump on trends and make things easy for their customers, so they have been accepting Bitcoin and other digital currencies for some time now. On top of that, Starbucks coffee shops allow you to spend Cryptocurrency on their app, and even online gaming platforms such as Microsoft live accept it as a form of payment.
Bitcoin News
The Bitcoin price change might be big news, but it certainly isn’t the only thing that is going on in the world of Crypto. One thing that people will be keen to follow closely is the settlement between Bitcoin Association for BSV (“Bitcoin Association”) and Tulip Trading Ltd. (“TTL”). This involves the release of software that has been designed to help keep people’s Cryptocurrencies safer. It will allow the freezing of coins if they have gone through the correct legal process and are deemed lost or stolen – so that their owner can claim them back. This has been a long process which started in 2020 when the TTL sued the British Association for the right to use the software to gain back control of some Bitcoin that had been stolen.
All in all, the world of Bitcoin is ever-changing, and those interested in investing in the currency should most certainly keep their eye on the news & ensure they are up to date with all goings-on before they dabble too far in investments.
