Amazon Denies Crypto Acceptance Rumors! A Huge Catalyst For The Overall Market
Bitcoin and Dogecoin have seen a bit of a correction after aggressively pushing up. But wee did have some news that temporarily acted as a negative catalyst. We nearly hit what we did, end up making highs of 23 cents. After that, we consolidated a low points. And we’re now kind of hanging around the general 20 cent area. And this came after we had some news regarding the fact that Amazon came out and denied the Bitcoin acceptance rumors.
A huge catalyst for the overall market
The fact that it seemed like Amazon was putting some steps in the right direction to begin to accept Bitcoin and potentially other crypto currencies as a form of payment. So they came out officially and said that this isn’t in the works yet. Nothing official. They did say that they’re looking into it. They’re looking into crypto currencies and the blockchain. But they just emphasized the fact that there wasn’t anything official. So this catalyst shouldn’t have been right, given that it wasn’t official information. It was more so just speculation in a rumor.
Dogecoin price up now 6% on the day, Bitcoin up 8% still with a high level of volume in buying pressure. People still want to buy Bitcoin and Dogecoin. Dogecoin sitting at 4.9 billion when it comes out to total trading volume. But we had to correct ourselves so we can continue to push up in the long term.
So it wasn’t like this news was catastrophic or game changing or anything like that. It was simply a correction after pushing up so much within a short period of time. Do not be worry, Bitcoin will rise, Dogecoin will rise and other cryptocurrencies too.