BTC has surged upward over the previous 24 hours following months of stagnation. For the very first moment since the 16th of June, BTC’s price sped beyond $39k in the dawn of Monday. The spike is said to be a response to fresh unsubstantiated claims that Amazon is planning to welcome the BTC payment option before the curtains close for 2021.
BTC is causing a stir
On the 26th of July 2021, the pricing of the biggest cryptocurrency temporarily surged over $39k before reversing somewhat. At the time of writing, BTC had gained 11.25 percent and was trading close to $38.4k. As a result, BTC is among the greatest performing top ten digital currencies in terms of market capitalization.
A flawless short squeeze happened as prices went up, with the positive trend building since the price skyrocketed from $34K to more than $39K in 3 hours.
Several metrics have flashed positive indications as a result of the rapid rise. For example, digital currency expert Lark noted that the BTC price has now returned to more than the fifty-day moving average.
Amazon Will Accept BTC Payments in 2021
Details regarding Amazon’s prospective digital currency initiative have emerged following the publication of a job post connected to cryptocurrencies over the weekend.
On the 25th of July 2021, City AM claimed Amazon is planning to incorporate the bitcoin payment method in the latter half of 2021, citing an individual with knowledge of the matter.
The source explained this is not simply going with the flow of setting up digital currency payment options at some time in the future what it is a comprehensive, discussed, fundamental element of how will one of the largest online retail stores function in the foreseeable future.
According to the unnamed insider, BTC is the 1st massive milestone in this digital currency journey, and the command is originating from the founder, referring to Jeff Bezos. The insider even stated that the plan is ready to launch.
Amazon officials are seeking to include additional, prominent digital currencies for later on, in addition to the largest digital currency, Bitcoin.
ETH, ADA, and BCH will become the next digital currencies to go live until they bring roughly eight among the most prominent digital currencies online. This will not take that long since the proposals are already in place and the working ever since 2019.
According to the insider, The online retailer is also considering circulating its cryptocurrency as soon as next year. Although this news of online retail behemoth accepting BTC as a payment option is not yet confirmed, the BTC market has gone wild as it appears to be the price in the said possibility.