One may think that the bitcoin is mostly used for transactions. Or well, shady transactions. This was, perhaps, true a few years ago. In the modern times, most of the bitcoin volumes have nothing to do with the transactions. Unlike the Forex market, where most of the volumes are purely transactions, cryptocurrencies are mostly used for two main purposes – speculation and gambling. While the first purpose can hardly surprise anyone, many would be amazed to find out that the bitcoin powers up the gambling industry. And it might have been the main contributing factor towards the growth of BTC price in early 2017.