After Amazon (AMZN) denied a report that it was considering accepting cryptocurrencies as payment, Bitcoin (BTC-USD) has fallen from recent highs.
On Monday, bitcoin and other cryptos rose on reports that Amazon was planning to accept digital currency.
A job listing for a "Digital Currency and Blockchain Product Lead" was recently placed on Amazon. On Sunday night, the London newspaper CityAM reported that Amazon was planning to accept bitcoin, ethereum, Cardarno, and BitcoinCash.
Amazon issued a statement late Monday denying the CityAM storey.
"Despite our interest in the space," an Amazon spokeswoman told Yahoo Finance UK, "the speculation that has ensued surrounding our specific plans for cryptocurrencies is not genuine." "We're continuing to look at what this could mean for Amazon customers shopping."
On Monday, bitcoin reached a high of $40,000 (£28,954) before falling after Amazon's announcement. By 8.15 a.m. in London, the world's largest digital currency had risen 4.3 percent to $37,087.
The bitcoin market as a whole was also in decline. Ethereum (ETH-USD) was down 6.8% to $2,200, while Cardarno (ADA-USD) was down 8.5 percent to $1.25 and BitcoinCash (BCH-USD) was down 6% to $476. According to statistics aggregator CoinMarketCap, the cryptocurrency market has lost 5.2 percent of its value in the last 24 hours.
While bitcoin and other cryptocurrencies were down from their highs on Monday, they were still trading above where they were on Sunday night. According to analysts, the Monday increase spurred a wave of purchasing from traders who had been shorting bitcoin and were now looking to liquidate their positions.
Leave a Comment :
We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders. We're also a community of traders that support each other on our daily trading journey.
Trading CFDs on leverage involves significant risk of loss to your capital.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. DrForexOfficial, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Read our full legal disclaimer.