do you still use bitcoin-only gambling sites during the bear market?

Discussion in 'General Bitcoin Gambling Discussion' started by Toast, Jan 8, 2019.

  1. Toast

    Toast Member

    during 2017 i mostly used btc exclusive sportsbooks and casinos because the price of bitcoin in dollar terms kept rising. i might deposit $100 at nitrogen and over the space of a few weeks it would magically be worth $200 if i withdrew it. during the 2018 bear market where the price went from about $19,000 back to $3,500 the opposite was true. if i deposited btc at a casino or sportsbook, it was worth about half in dollar terms within a month or two. as a result i almost exclusively gambled at sites like nitrogen and cloudbet in 2017 and i gambled more at sites like bovada and 5dimes in 2018 because they immediately converted my btc to dollars so i avoided the constant price drops.

    have other people done the same?
  2. Humble Servant

    Humble Servant Active Member Staff Member

    My suspicion is that people are probably less likely to deposit large amounts into crypto-only gambling sites during bear markets. They'll probably buy $50 worth of bitcoin or enough to keep them going for a couple of weeks and deposit that. During the bull market I'm sure many people were happy to deposit hundreds of dollars at a time and watch it's value in dollar terms increase over months.
  3. It's certainly looking like the bear market is over. The price is over $6,000 today which is double what is was last November (2018). I would see a lot of sideways action for the next 6 months until people start to get excited about the halving, which is coming up in May 2020.

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