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Bitcoin and cryptocurrency prices suddenly surged after a tumultuous week for crypto traders.
The price of bitcoin has risen by around 7% in the past 24 hours, while Ethereum, Binance’s BNB, Ripple’s XRP and dogecoin have climbed 5% to 10%, pushing up the combined value of the $ 200 billion crypto market since Wednesday.
Boom in bitcoin and crypto market comes after tech giants Twitter
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AMZN
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The price of bitcoin has rebounded from its recent lows but remains far from its recent all-time high over the course of … [+]
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Thursday, Twitter and Square
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Bitcoin can help the social media giant accelerate product expansion and is the “best candidate” to become the internet’s “native currency”, said Dorsey, speaking on the second earnings call. Twitter quarter.
“If the internet has a native currency, a global currency, we can go much faster with products like Super Follows, Commerce, Subscriptions, Tip Jar and we can reach every person on the planet because of that instead of adopt a market-by-market-by-market approach. “
Meanwhile, online retailer Amazon is looking to hire a digital currency and blockchain expert, according to a recent job posting.
“You will leverage your expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency to develop the case for the capabilities that should be developed, drive the overall vision and product strategy, and gaining leadership buy-in and investment for new capabilities, ”the post, first reported by Initiated, read.
An Amazon spokesperson said Initiated Amazon wants to eventually accept cryptocurrency from its customers.
“We are inspired by the innovation happening in the cryptocurrency space and explore what that might look like on Amazon,” the spokesperson said. “We believe the future will be built on new technologies that enable modern, fast and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”
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The price of bitcoin has climbed this week after losing ground, along with ethereum, Binance’s BNB, cardano, … [+]
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Earlier this week, the cryptocurrency community was gripped by an online chat between Dorsey, Tesla
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“I can pump but I don’t empty,” Musk said, revealing that his rocket company SpaceX had joined Tesla in holding bitcoins while he personally holds some of Ethereum’s ether tokens. The memes-based dogecoin, adopted by Musk as a pet project in recent months, soared with ethereum at the highly anticipated event after Musk came up with ideas he previously pitched to combine dogecoin with ethereum in order to “maximize transaction rates and reduce transactions”. costs.”
Bitcoin and cryptocurrency prices have struggled since a massive selloff in April and May that wiped out more than $ 1,000 billion from the combined value of the crypto market.
All ten most valuable cryptocurrencies, including ethereum, Binance’s BNB, Cardano, and XRP, are down more than 50% from their recent highs, with dogecoin down more than 70% since its peak early May.
Bitcoin and crypto market watchers applauded the rebound in bitcoin prices, with investors encouraged by the $ 30,000 per bitcoin more or less supporting holding.
“Bitcoin started the week on a gloomy note but managed to climb back above the $ 32,000 mark,” said Pankaj Balani, managing director of Singapore-based crypto-derivative Delta Exchange, in comments sent by email.
“Over the past two weeks, we’ve seen a lot of negative news flow and strong selling pressure on bitcoin. Despite weak sentiment and weakness in global markets, bitcoin has maintained the $ 30,000 support. bitcoin slipped below $ 30,000 but bears we failed to push it lower and we are seeing a healthy rebound thereafter. For the first time in many weeks we are seeing bullish signs here and we expect bitcoin to move towards the higher end of the $ 30,000 to $ 40,000 range. “
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