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Crypto gambling — how does the future of secure gambling look?

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Online gambling is a huge part of the casino world, but there is a small percentage of players who worry about its security — welcome, cryptocurrency casinos. It’s 2024, and although crypto casinos are nothing new, there is a wide range of some of the huge household names now utilizing this form of payment to stay ahead. It used to be that security processes were a major block for many players online, as when you gamble online you are putting your data, funds, and personal information in the hands of the online casino. Luckily, we’re in a new era of technology and the security methods that these brands now use are second to none. 

 If we were to look at the history of online casinos, we would see that traditional platforms struggled to build robust security methods, which left players susceptible to fraud and hackers. However, that fear is one of the past, as all online casinos that are worth playing on have to be regulated and in turn, adopt a fortress-like level of security. It not only puts you as the player in safe hands but offers up a new way of using decentralized funds, that are transparent and completely controlled by you. We’re going to be taking a look at how one of the safest forms of online gambling is evolving, and what measures shape where it’s got to today. Ever worried about online casinos before? Well, you won’t now! 

 Blockchain — what is it?

 

If you were looking for one advancement to thank in this evolving secure digital landscape, then it would most definitely be blockchain. Although to many it sounds unmeasurably confusing, it’s a piece of technology that works wonders in online gambling. Blockchain is a decentralized digital piece of technology that acts as a record sheet for transactions. It is a secure, transparent piece of tech that, in summary, is a digital ledger/database. It stores the transactions in things called blocks, which are then linked by a chain… sounds obvious, right?

 Each and every block that is formed on this digital ledger then contains an individual yet unique cryptographic node that cannot be modified as the chain goes on. Therefore, in summary, as the chain progresses, it becomes inevitably stronger and unable to be hacked or tampered with. It’s also getting more valuable all the time.

 It is the undisputed heavyweight in all security processes and stands as the backbone of anything cryptocurrency-related. 

But how does it keep your information safe in gambling?

 

  1. Immutability — This means that it is unable to be changed, ever. When a piece of data has been recorded on the ledger (blockchain), it is then unable to be altered. This creates a transparent record in a casino, showing that all bets have been safely placed and will never be tampered with.
  2. Decentralization — Like everything with crypto, when using crypto in a casino, it becomes completely decentralized. This cuts out any third parties such as banks, and therefore reduces potential threats. Although you may think your funds are safe with the central banks, they are far more susceptible to hackers than if they were placed in a virtual crypto wallet — hence why they’re the future of online gambling.
  3. Fairer — Above all else, when you’re gambling online, one of the most important requests is fairness. Blockchain makes sure that all the algorithms in a casino’s interface are fully leveled out, meaning that crypto pokies are guaranteed to be treated equally with all their pay-ins, pay-outs, and hand/slot automation. 

 

The future of privacy and transparency

 

Online gambling is only growing exponentially because both crypto and blockchain are putting support in place for its players. Crypto gives the player a whole new level of anonymity, while blockchain dishes up transparent records for safeguarding their data. This opposes the older methods of online casinos, as pre-crypto users would use traditional payment methods that resulted in your data being shared, and potentially hacked. Before crypto was utilized by online casinos, players would have to input a lot more personal data — which would put them at risk of identity fraud. Now, the online player uses a virtual wallet that is decentralized and secure from all threats. 

 The role of cryptocurrency is growing and the future of it is only getting more resilient against security worries. As of early 2024, there are 13,217 cryptocurrencies in existence, with new ones appearing all the time — and this is expected to grow by the end of the year. We’re in an era where technological changes are inevitable, and to stay ahead as a business, you need to adopt change. This makes customers in online gambling feel safe, and encourages them to utilize the platforms that prioritize their safety above all else. 

 With every bet you place being recorded on the blockchain and every payout you receive being fully untraceable — secure gambling is not just the future, it’s the now. 

 



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Bitcoin Price Nears $80,000; Fuels Death Cross Potential

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Bitcoin’s recent price action has shown some concerning signs. The crypto king has failed to break through key resistance levels, leaving it vulnerable to further declines. 

As Bitcoin inches closer to testing the $80,000 support level, the potential for a Death Cross looms, increasing bearish sentiment in the market.

Bitcoin Investors Are Skeptical

Short-Term Holders (STHs), who buy at higher prices, are primarily responsible for the ongoing losses. These investors have been actively noting losses in response to Bitcoin’s volatile market conditions, reflecting the unpredictable environment that has made it difficult for new investors to navigate.

Meanwhile, Long-Term Holders (LTHs) continue to realize profits, benefiting from their extended market presence. However, the current market conditions show stagnation in new capital inflows, with LTH profits offset by STH losses. This creates weaker demand and resistance, signaling a potential slowdown in price momentum.

Maintaining bullishness in the market typically requires consistent capital inflows, but the market now seems to be lacking that crucial support. The overall sentiment reflects a neutral stance, with both profit-taking and loss-realization balancing out.

Bitcoin Realized Profit/Loss
Bitcoin Realized Profit/Loss. Source: Glassnode

The crypto king’s macro momentum is showing additional signs of bearish pressure, particularly with the Exponential Moving Averages (EMAs). The 200-day EMA is less than 3% away from crossing the 50-day EMA, which would result in a Death Cross. This technical pattern has historically signaled significant corrections in price, marking a potential end to Bitcoin’s 18-month-long Golden Cross.

As the EMAs approach this critical point, traders and investors are closely watching for any signs of a correction. The fear of a Death Cross brings further concern to Bitcoin’s price stability. If the 50-day EMA crosses below the 200-day EMA, it could trigger more sell-offs, intensifying the bearish sentiment in the market.

Bitcoin Death Cross Nears
Bitcoin Death Cross Nears. Source: TradingView

Is BTC Price Primed For Further Decline?

Bitcoin is currently trading at $82,248, nearing the key psychological support level of $80,000. Despite attempts at a breakout, Bitcoin has failed to move beyond the two-month-long broadening descending wedge pattern. This pattern suggests that Bitcoin could be on the brink of further decline.

If the downward momentum persists, Bitcoin is likely to fall through the $80,000 support level and approach $76,741. This scenario would reinforce the bearish outlook, especially considering the technical indicators and the lack of strong buying support. A breakdown below these levels could signal a deeper correction, with the potential for further declines.

Bitcoin Price Analysis.
Bitcoin Price Analysis. Source: TradingView

However, this short-term bearish thesis can be invalidated if Bitcoin’s price manages to reclaim $82,761 as support. If Bitcoin breaks through the $85,000 barrier, it could break out of the current pattern, signaling a potential reversal. A strong rally above $86,822 would suggest a resumption of the bullish trend, invalidating the bearish momentum that currently dominates the market.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Dogecoin (DOGE) Bulls In Trouble—Can They Prevent a Drop Below $0.15?

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Dogecoin started a fresh decline from the $0.1880 zone against the US Dollar. DOGE is declining and might test the $0.150 support zone.

  • DOGE price started a fresh decline below the $0.1850 and $0.1750 levels.
  • The price is trading below the $0.1750 level and the 100-hourly simple moving average.
  • There is a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair (data source from Kraken).
  • The price could extend losses if it breaks the $0.1620 support zone.

Dogecoin Price Dips Further

Dogecoin price started a fresh decline after it failed to clear $0.200, like Bitcoin and Ethereum. DOGE dipped below the $0.1880 and $0.1820 support levels.

The bears were able to push the price below the $0.1750 support level. It even traded close to the $0.1620 support. A low was formed at $0.1628 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low.

Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.170 level. There is also a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair.

The first major resistance for the bulls could be near the $0.1730 level. The next major resistance is near the $0.1770 level. A close above the $0.1770 resistance might send the price toward the $0.1850 resistance.

Dogecoin Price

The 50% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low is also near the $0.1850 zone. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.

More Losses In DOGE?

If DOGE’s price fails to climb above the $0.1770 level, it could start another decline. Initial support on the downside is near the $0.1635 level. The next major support is near the $0.1620 level.

The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.120 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.1620 and $0.1550.

Major Resistance Levels – $0.1720 and $0.1770.



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XRP Price Fate Hangs on $2.00—Major Move Incoming?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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