The price of Bitcoin has been on the rise in the last few days, and there is a good reason why. News has been circulating around the social media sphere that Amazon has plans to start accepting Bitcoin payments in the near future. This is not the first time a financial giant has launched a direct cryptocurrency payment system either, and it won’t be the last either.
The bitcoin price surged to a four-month high this morning, as news of the possibility of Amazon accepting cryptocurrency payments for its products broke out. Amazon has a history of accepting payment from various companies, including bitcoin, for its Prime subscription service. The news sent the price of bitcoin up to $2,646, the highest since June 2018, according to data from CoinMarketCap.
The price of Bitcoin rose dramatically today, and the reasons for this are still unknown. Early reports suggested that Amazon was set to begin accepting payments in the cryptocurrency rather than dollars and cents, but Amazon has not yet commented on these claims.. Read more about amazon cryptocurrency announcement and let us know what you think.
TL;DR Summary
• Bitcoin regains ground today, reaching a value of $38000. • Amazon plans to use cryptocurrency by the end of 2023.
On Monday, cryptocurrency prices rose after a rumor claimed that Amazon will accept cryptocurrency payments. With Amazon’s decision to accept cryptocurrencies, the price of Bitcoin seems to have skyrocketed. By the end of 2023, the world’s most popular online retailer will allegedly try to accept bitcoin payments.
Following the news, Bitcoin’s price soared over $38000, breaking a weeks-long downward trend. The cryptocurrency’s market capitalization grew by 12%, and its value may hit $40000 in a matter of hours.
Amazon is said to be increasing the price of Bitcoin (BTC).
Cryptocurrencies saw a substantial rise in value when Amazon advertised a crypto-related position. In the statement, Amazon said that it intends to use cryptocurrency and Blockchain technologies. This little internet remark sparked conjecture, which seems to have resulted in a rise in cryptocurrency prices.
The reports also include Jeff Bezos and his permission to take cryptocurrency. In the near future, these alleged crypto payments may be made using Ethereum, Bitcoin Cash, or Cardano.
This approach is anticipated to deliver millions of dollars in earnings to both the crypto market and Amazon.
Cryptocurrencies have resumed their upward trajectory.
The crypto market has been in a negative trend since May, with Bitcoin not exceeding $34000. However, after the Amazon announcement, the price of Bitcoin and many other cryptocurrencies skyrocketed. On the one hand, according to CoinMarketCap, Bitcoin Cash increased by 8% in value to $502.07.
Cardano also takes advantage of the upswing, rising 10.32 percent to trade over $1.33. The price of Ethereum is now $2340, with a 6-percentage-point high. Dogecoin gained 10% today, hitting a value of $0.218 as anticipated.
Cryptocurrencies have been turbulent lately, and this statement seems to have provided some relief. After losing 50% of its value at the end of May, Bitcoin was one of the most impacted coins. BTC was trading below $30000 only a few days ago, after the latest announcement of Chinese restrictions.
After the Amazon announcement and the JPMorgan revelation, the Bitcoin environment may alter. The American firm will be the first to accept cryptocurrency and enable unrestricted trading. Bitcoin may reach new all-time highs in the next months as a result of both statements, regardless of the Asian country’s laws.
Bitcoin prices rose sharply this morning after reports surfaced that the online retail giant, Amazon, is set to accept Bitcoin. The news came as a shock to the market as bitcoin prices soared by more than 15% and pushed into the $US4,000 range. Although Amazon has refused to comment on the reports, the news is said to be the result of a decentralized project called Lightning Labs, which has been developing a software system that enables bitcoin payments through the likes of Amazon and others.. Read more about amazon crypto payments and let us know what you think.
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