
Retail leader Amazon took to the media to deny all rumours suggesting that the e-commerce leader could start accepting Bitcoin payments before the end of the year.
This rumour was brought to the media’s attention from City AM newspaper, who cited an unnamed source, and it ended up taking Bitcoin up as high as 14.5 per cent before it dropped in gains to last trade of 6 per cent at $37,684.04 this week.
Regarding the rumour, a spokesperson from Amazon said to the media on Monday: “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.”
Earlier this month, the e-commerce giant was reported to have posted a job opening for a digital currency and blockchain product lead, and usplayercheck.com was a witness to this. On Monday, this new job posting from the retail giant had stirred several rumours among even analysts over whether this could potentially lead to the company entering into the cryptocurrency world and accepting Bitcoin as a form of payment.
However, Amazon’s swift denial saw the world’s biggest cryptocurrency tumbling below $37,000 and this also affected Litecoin and Ether as well.
Bitcoin saw a more than 17% rise on Monday to $40,545, which is its highest since June 15. Over $950m of crypto shorts were liquidated on the same day, this is also the highest since May 19, according to Bybt.com and real money casino.
Head of Asia Pacific with crypto exchange Luno, Vijay Ayyar, said to the media: “Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board. But 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.”
“Bitcoin’s current price volatility is part of a wider multi-wave correction since hitting a record in April,” Ayyar added. “The price could rebound to as much as $45,000 in the near-term before another potential drop to complete the correction.
“We’re still seeing the correction play out,” he concluded.
There has been a continuous growth in companies that started accepting cryptocurrencies as a method of payment, but due to the recent fluctuation of the market, some financial institutions closer to the mainstream could be said to be avoiding it.
Tesla CEO Elon Musk claimed to the media that the electric-car company will likely continue accepting Bitcoin as payment once more when they finalize the amount of renewable energy that will be used to mine the crypto.
