Amazon will begin accepting payments via bitcoins and cryptocurrencies in late 2021, according to the official, who did not want his name to be disclosed by Amazon executives. According to the same source, Amazon will release its own cryptocurrency in 2022.
Following the news of Amazon and a series of discoveries, needles were raised in the Bitcoin and cryptocurrency markets, which were in a downtrend. Bitcoin tested $ 40K during the day. At the time of writing, prices range from $ 37,000 to $ 38,000. However, the most profitable cryptocurrency of the day was AMP.
Rumors that Amazon was working with AMP and new best free crypto training bot made AMP pump up to 50% over the course of the day – say the analyst of SafeTrading. While there is no official announcement from Amazon yet, the rumors have sparked a 50% pump. Similar claims are made against Algorand.
AMP, this is a fairly new project, made 10 cents in a day. At the time of writing, it is trading in the 6-7 cents range.
- AMP is listed at # 33 on CoinMarketCap, with a total market cap of $ 2.88 billion.
- On June 16, AMP broke an all-time high, earning 12 cents.
- Today it is very close to the ATH value.
It transfers data and funds securely and quickly through the AMP blockchain. It offers an alternative blockchain-based method to the traditional payment system. Thanks to smart contracts, financial risks are largely minimized, as funds are transferred against certain collateral. AMP’s collateral payment system can fill an important gap in online trading and usage of the best free crypto training bot.
How Amazon and Tesla News Affected Bitcoin Price
Bitcoin price hit $ 40,500 yesterday and is in the $ 37,000 range at the time of publication. One of the reasons behind the rise of the leading cryptocurrency was rumors that Amazon would accept payments in bitcoins and launch its own cryptocurrency. However, the denial of this news caused a slight pullback in the price of BTC – specialist of SafeTrading team.
So this decline has completely completed the upward movement?
Should you be scared?
The bitcoin price began to decline after the news about Amazon was heard and the price dropped to $ 36,300. However, for now, the fact that the BTC price has not dropped below the $ 36,000 support and has been struggling to overcome the $ 37,000 resistance for a while suggests that there is no cause for concern.
However, while Elon Musk stated that Tesla did not sell BTC at the Bitcoin Word event, the released Q2 report confirmed this situation. So even though there were no new purchases, the fact that Tesla still holds bitcoins was also a big deal.
In fact, SafeTrading said that it can be stated here that the two news cancel each other out, so that the decline does not become deeper.
On the other hand, according to analysts, after that, the price of bitcoin may fluctuate for a while in the range from $ 36,000 to $ 38,000, and then new highs can be seen. In addition, analysts also believe that the impact of negative news on the BTC price is gradually decreasing.
“Rumors about the Amazons are exaggerated”
Ismail Hakki Polat, who founded Turkey’s first New Media Faculty at Kadir Has University and is one of the important names in the Turkish cryptocurrency ecosystem, also commented on the topic on Twitter, stating that straws and straws are intertwined between:
- Amazon FOMO;
- Tether FUD.
He warned investors who are trying to trade on a daily basis with only tweets that he read in the cryptocurrency market in which he participated.
In addition, Polat said that he does not consider the rumors about Amazon completely false, they are simply exaggerated, but they believe that 2021 is not the right time for such a move.
The influence of Elon Musk and Michael Saylor on cryptocurrencies!
If we were to ask who are the two most important names influencing the cryptocurrency markets this year, each would undoubtedly name:
- Elon Musk;
- Michael Saylor.
Market analysis by TIE and eToro USA highlights the extent of this impact in detail.
The most influential names of cryptocurrency markets.
Elon Musk and Michael Sailor made a huge impact on the cryptocurrency markets in the second quarter. These two names are one of the important reasons why crypto assets are increasingly being talked about in the mainstream community. Sentiment analysis from TIE and eToro USA analyzed how Elon Musk and Sailor affected the markets.
The results are presented in a quarterly report by eToro USA entitled “The True Value of Impact”.
The name that influenced investor sentiment the most, Elon Musk, confirmed this in a recent analysis. Elon Musk’s shares, which in general triggered investor sentiment towards cryptocurrency, sometimes also triggered declines.
For example, his post on the centralization of mining on May 16 caused the price of bitcoin (BTC) to drop 7% in 24 hours. A few days before this post, on May 12, Elon Musk provoked a 9% drop in the price of bitcoins (BTC) with his posts on fossil fuels. The last action that caused the price of bitcoin to fall took place on May 20. By comparing energy consumption in some countries with the energy consumed by bitcoin miners, Musk caused the price to drop by 11%.
Tesla’s abandonment of bitcoins due to environmental concerns was a complete disaster. These stocks, which led to a significant decrease in market volume, triggered a strong decline that continues to this day.
However, Elon Musk took those words back into the program he attended last week. Thinking that bitcoin miners have switched to + 50% renewable energy, Elon Musk announced that they will soon start accepting bitcoins again. Finally, after a few days, the price of bitcoins rose 25% to $ 39,600.
Elon Musk is expected to stop attacking Bitcoin and only after last week left positive messages about cryptocurrencies.
The positions of MicroStrategy CEO Michael Saylor were aimed at constantly increasing the price. During the hardest days of Bitcoin (BTC) in the second quarter, Sailor has always been an ardent supporter. The Bitcoin (BTC) purchases he announced during the days when the price continues to fall continuously are extremely important.
Saylor stock did not slow as Bitcoin’s journey from $ 11,000 to $ 60,000 continued. Saylor, who has consistently promoted Bitcoin in a positive way, has never been able to bring down the price.
Of course, Sailor, who could not be as effective as Musk, could not cause big jumps in price. Sailor, who considers Bitcoin to be the greatest achievement of humanity, continued to buy Bitcoin by selling bonds, putting his company at enormous risk. MicroStraregy has always been a market maker, accumulating 111,000 bitcoins (BTC) over the past year. eToro USA believes that this process will continue and Sailor will strongly support Bitcoin.