Why are crypto coins boosting?

The crypto market is up today with Bitcoin and numerous altcons surging. This surge led to a breakout in prices, causing the overall market capitalization to reach a year-to-date high of $1.59 trillion on December 8th 2023.

What determines crypto’s price?

Cryptocurrency is not issued by a central bank or backed by a government. Therefore, the monetary policy tools, inflation rates, and economic growth measurements that typically influence the value of a currency do not apply to crypto. Instead, crypto functions more like a commodity for value storage, with the following factors influencing its price:

• The supply of bitcoin and the market demand for it.
• The production cost of bitcoin through the mining process.
• Competition from other cryptocurrencies.
• Regulations overseeing its sale and use.
• Media coverage and news developments.

Is crypto a good investment?

If you have invested in crypto, you are sure to really see a boost in your wallet at the moment! If you haven't already, you can start investing in any crypto currency today, but be aware of the market. If you are looking to invest in crypto for the first time, it’s best to speak to an investment professional about your specific situation before investing into any type of cryptocurrency.

Using Cryptocurrency at BetBeast

At BetBeast we offer several incredible crypto welcome offers, using a crypto wallet called CoinsPaid in which we offer deposits and withdrawals from a variation of the world’s leading crypto currencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE) and Tether (USDT).

Did you join the crypto peak? Ready to start playing using crypto? Play a crypto game here, or deposit in crypto here!