There is a rumor going around that has driven all cryptocurrency prices up.
Bitcoin and the cryptocurrency market have recovered from recent lows. Over the past two days, the price of Bitcoin has risen by 10%, leading other cryptocurrencies to follow the uptrend. Over the past week, Bitcoin has spiked 20% and Ethereum has caught up and increased its value by 22%.
What is the reason for this surge? Reports have emerged in the market that Ecommerce and tech giant Amazon plans to consider cryptocurrencies for payments. According to the company, cryptocurrencies will allow modern, fast and inexpensive payments. These statements from Amazon result from the fact that other market influencers like Elon Musk have expressed their support for this technology.
At a crypto convention held earlier this month in the United States, Elon Musk said in a debate with Twitter’s Jack Dorsey that SpaceX still owns Bitcoin with its own investments and that of Tesla while sparking speculation that Tesla would soon start accepting crypto payments as well as.
Until last week, the price of Bitcoin hovered around US $ 30,000. A lot of talk and criticism about the future and potential of Bitcoin has started to occur and be discussed. the crypto giant falling out of favor was becoming more obvious. In a turn of events, Bitcoin is now hitting the US $ 40,000 mark. At the time of writing this article, Bitcoin is now trading at US $ 36,966.
Overall, the cryptocurrency market is peaking as major coins are up 10% and above. Dogecoin is also up 12%. This increase may be the result of Amazon’s hype, but investors in the crypto market expect the company to make those payments soon and don’t want to miss the bull run.