Apple Allowing Bitcoin Applications Increases Bitcoin Value

It is no news to anyone that the Bitcoin is very volatile by nature and that smaller events can trigger the value to up or down significantly. So when bigger news arrives, it is only natural that does swings become even bigger or that the traders have more confident in the currency and thus stabilizes its value.

With the announcement that Apple would allow back in applications who are virtual currency related or who would allow transactions to be made, the Bitcoin value rose once again. But it didn’t really rise a lot compared to the natural rise it has had over the past couple of weeks, which made people wonder why?

The reason for the small jump in the value of the Bitcoin is probably mainly caused by the fact that no one is really sure what Apple’s statement really meant. It was vague and they didn’t wish to talk into details about if they would in general allow for Bitcoin wallets and services to integrate their applications again.

So until we see that more than a couple of Bitcoin, or other cryptocurrency applications for that matter, are being allowed back into the App Store and until we see what Apple is trying to gain from their move, the value will not rise much more based on their statement. It does however look overall positive for the Bitcoin and cryptocurrencies compared to just a few months ago, as the negative stories are becoming fewer and more companies are getting their eyes up for the value of accepting Bitcoins through companies like Coinbase and BitPay.

Daniel Allermand

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.  

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