Price of Bitcoin Inches Towards $6000

Written by:
Aaron Goldstein
Published on:

The price of Bitcoin was hovering around the $5760 mark Friday morning and appears to be on a tear.

In the first week of March, the daily volume of bitcoin was estimated to be around $270 million. In less than a month, the spot volume of the asset surged 196 percent.

This is music to the ears of online gambling sites worldwide, mostly those that operate in more restictive markets.  For some North American-facing sites, some 70% of all transactions are now via Bitcoin. 

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BTC appears on track to test the psychological resistance of $6,000 soon.

The rise comes as the Wall Street Journal reports that Facebook plans a cryptocurrency-based payment system that it could launch for billions of users worldwide.

- Aaron Goldstein, Gambling911.com

Business/Financial News