{"id":16034,"date":"2021-07-27T06:57:57","date_gmt":"2021-07-27T06:57:57","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=16034"},"modified":"2021-07-27T06:57:59","modified_gmt":"2021-07-27T06:57:59","slug":"news-commentary-1420-bitcoin-and-amazon-speculation","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=16034","title":{"rendered":"News Commentary #1,420 \u2013 Bitcoin And Amazon Speculation..?"},"content":{"rendered":"

How manipulative our world is today. It is difficult enough to find the true source of information when even the world’s media are included in the game called “speculation<\/strong>“. The crypto market is no exception, where these are the rules of the game, at least for today. <\/span><\/span><\/p>\n

Just a day ago, there was news from amazons regarding accepting payments in bitcoin (cryptocurrencies) as all prices for crypto assets rose. And just a few hours ago, the Amazon denied these statements. ) … we all see what is happening with the price now.. Well .. let’s see what happens next \ud83d\ude42<\/span><\/span><\/p>\n

\n

Amazon.com Inc is denying a media report saying the e-commerce giant is looking to accept Bitcoin payments by the end of the year.<\/p>\n

The report from London\u2019s City AM newspaper, citing an unnamed \u201cinsider\u201d, sent the world\u2019s biggest cryptocurrency up as much as 14.5 percent before it trimmed gains to last trade 6 percent higher at $37,684.04.<\/p>\n

\u201cNotwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,\u201d said a spokesperson from Amazon on Monday. \u201cWe remain focused on exploring what this could look like for customers shopping on Amazon.\u201d<\/p>\n

The company on July 22 posted a job opening for a digital currency and blockchain product lead.<\/p>\n

Earlier on Monday, the job posting from the retail giant had stirred questions among analysts over whether the move could eventually lead to Amazon accepting Bitcoin as a method of payment.<\/p>\n

The company\u2019s denial sent Bitcoin tumbling below $37,000 while rival coins including Ether and Litecoin also fell.<\/p>\n

<\/p>\n

Investors rushing to cover bearish bets had fuelled the earlier rally that drove the coin at one point up more than 17 percent on Monday to $40,545, its highest since June 15. More than $950m of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.<\/p>\n

\u201cShorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,\u201d said Vijay Ayyar, head of Asia Pacific with crypto exchange Luno. \u201cBut then there was heavy accumulation in the $29,000 to $30,000 region which caught a lot of those shorts unaware and hence led to the spring upwards.\u201d<\/p>\n

Bitcoin\u2019s current price volatility is part of a wider multi-wave correction since hitting a record in April, Ayyar said. The price could rebound to as much as $45,000 in the near-term before another potential drop to complete the correction, he said.<\/p>\n

\u201cWe\u2019re still seeing the correction play out,\u201d he added.<\/p>\n

A growing number of companies have started to accept virtual currencies for payment, bringing an asset class until recently shunned by major financial institutions closer to the mainstream.<\/p>\n

Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting Bitcoin as payment once it conducts due diligence on the amount of renewable energy used to mine the currency.<\/p>\n<\/blockquote>\n

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How manipulative our world is today. It is difficult enough to find the true source of information when even the world’s media are included in the game called “speculation“. 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