In my opinion I think the price of Bitcoin plays an important factor to how the crypto gambling industry will do. You need to understand that a crypto bear market is not good for any industry. In 2018 look what happened. Many companies had to shut their doors or claim bankruptcy, many more had to lay off massive amounts of people. People began to call the crypto industry nothing more than a pump and dump scam or Ponzi scheme. People were leaving gambling sites and users were falling. I remember how lowtraffic the gambling category had at the beginning of 2019 compared to now.
If BTC breaks $20K then I expect another rush of new adoption and more people being introduced to crypto gambling. When BTC broke $10K a few months ago, many celebrities who gamble like that guy Norm McDonald tweeted if it's possible to play Poker with crypto. That is called adoption and it only happened because BTC was rallying. When BTC was falling and falling, it would scare adoption away.
I think those people you claim that left only happened because it was a dump and not a pump, there was a ton of people who got into bitcoin and lost money which is of course causing them to leave the crypto as a whole and not just gambling, they weren't leaving gambling and continue trading or something, they left because they were leaving the crypto scene all together.
Now, if we are talking about that kind of HUGE movements then yeah you could be totally right but on regular days like this when bitcoin could be 8 thousand or 12 thousand not much would change since not that many people would leave the crypto scene, maybe a few but they would be small enough to not matter. That is why I think it is totally correct that changes like 10%-20% up or down wouldn't affect it that much.
I wasn't talking about the micro term but more of the macro term, I am talking about months and years instead of days and weeks. I am pretty sure if someone joined Crypto at the beginning of the year they are not packing their bags because its trading at $10K now instead of the $13.8K yearly high.
When BTC went to $20K there were crazy amounts of people getting into Crypto and all services couldn't keep up with the demand. I am talking about Bitcoin ATMs, exchanges, Gambling sites, Reddit, Twitter, etc. It was massive adoption for anything that was related to Crypto. It was very good for Crypto gambling.
But in the Summer and Fall of 2018, things started to look bleak and people assumed BTC and Crypto was a scam and got out and exchanges had to lay off people and there was low traffic to all bitcoin services and exchanges. There was less and less posts in this category and people just moved on to stocks or other trading instruments.
