Every cryptocurrency bull run has had a narrative that has helped send specific token prices into the stratosphere. The most recent bull run revolved around dog-themed coins, like Doge and Shiba Inu. Although these coins have essentially little to no use cases, their price action was helped immeasurably by the tweeting contributions of Elon Musk. These cryptocurrencies created life-changing gains for those who got into the project early enough, and the big question for many is what the subsequent narrative will be going into any future bull run.
The Casino Narrative
Cryptocurrency casinos have created significant headlines in the gambling world over the last few years. By offering a more convenient and secure way to play your chosen game, many cryptocurrency casinos that operate within the space have witnessed substantial gains and more significant numbers of gamblers signing up for their services. Blockchain security and direct, frictionless digital asset payments make up part of a sizeable market for casino gamers to explore, and this year has already witnessed several crypto casino-backed coins soar in value before any significant bull run has even taken place.
Traditional casinos have established themselves as highly successful facets of the gambling market. However, cryptocurrency casinos are ready to take the baton and stake their claim as the next generation of online casino gaming. Ignition Crypto casino implements high-quality blockchain gaming, where you can play poker, roulette, or slot machine games using your digital assets. As the blockchain verifies your payment and ensures that it is secure and unamendable, there are zero requirements for a bank to facilitate your transaction. Once you have sent your Bitcoin to Ignition, you can select your game, stake, and play immediately.
Components To Consider
Casino gaming coins could be one of the big success stories of the next bull run. Many cryptocurrency analysts and traders believe the next bull run will occur at some point in 2024, some point after the halving occurs. However, the truth is nobody actually knows when it will happen or if it will happen. Outlandish price predictions are part of the territory in cryptocurrency trading. While coins doing 100x isn’t impossible, it’s essential to stay grounded when you read up on any news regarding price action or potential bull runs on the horizon.
Regulation is critical and will need to work in favor of cryptocurrency casinos for them to fully benefit from any narrative in the next year or two. Although American states have been rapidly getting on board with the idea of digital casino gaming, with many states legalizing it for the first time, this is primarily for traditional casinos.
The regulatory environment surrounding cryptocurrency as a whole in the United States has been turbulent, to put it lightly. Any impactful regulation that stifles growth within cryptocurrency tokens or casinos will suppress any potential meteoric price action in any prospective bull run. The industry itself will be fine, as many countries are more than happy to cultivate and harness the ingenuity of crypto casinos. Still, it needs favorable momentum to become the next big crypto narrative.
For a bull run to really take off, there needs to be a catalyst that brings in tens of billions of dollars worth of investment. This could be from a large influx of retail or institutions like Blackrock who have recently applied for an ETF, something monumental needs to occur to bring back the positive rhetoric that could see Bitcoin smash through its previous all-time high of $74,000.
Other Big Narratives
It’s hard to look past other huge narratives like gaming and AI. Both will play a vital role in any significant price action. Some may argue that casino gaming falls into a smaller section of gaming. Still, when we say gaming, we’re referring to play-to-earn games and projects focusing specifically on utilizing blockchain.
Sam Altman, the brains behind the groundbreaking and now globally recognizable ChatGPT, has entered cryptocurrency recently. Despite his stark warnings that AI has the potential to cause significant damage to humanity, his cryptocurrency project Worldcoin which is valued in the several billions of dollars is the latest AI coin to make substantial waves in the industry.
Although it’s had its honeymoon period and appears to be languishing somewhat, the cryptocurrency market is still a bear market. Historically, projects that launch during bear markets tend to do well once significant money flows in, but with so many AI projects in the market, it’s hard to tell which ones will truly take off – because it won’t be all of them.
These markets don’t really overlap, nor are they challenging each other. So if a bull run does take off, there’s a possibility that all of these markets will benefit. However, out of AI, gaming, and crypto casinos, one will come out on top, and that will be the one with the strongest narrative.
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