Amazon Currently has No Plans to Accept Bitcoin Payments

Bitcoin mania is on the rise as bullish signals approach; Bitcoin had seen some very hard days, especially in the past few months when Elon Musk and China were cracking at it, and most of the investors lost their faith in the cryptocurrency. Bitcoin stayed closer and then below the $30K price range and was not able to bounce out of it due to immense pressure on the cryptocurrency over the use of natural resources such as coal for mining. While it is true that Bitcoin mining impeaches our environment and is bad for it in every way, but it is a necessary evil at the moment and must continue until we find adaptable green energy for bitcoin mining and have completely laid out the process.

Coming back to the topic, there were rumors revolving in the crypto space that Amazon has given a green signal to the crypto adoption and the coins that would be incorporated into their payment solution are Bitcoin, Ethereum, Litecoin, and many other altcoins. The rumors didn’t have much credibility but managed to increase bitcoin’s price. This was the first time Bitcoin managed to spike up to $40K, and it was believed that finally, things would start to show up for Bitcoin; once again, Amazon has adopted Bitcoin.

Bitcoin has Remained Bullish Even After Amazon Rejected the Adoption Rumors

But soon enough official statement from Amazon came through, and it clearly portrayed that the e-commerce giant has no intention of incorporating Bitcoin or any other cryptocurrency into their payment solution anytime soon. However, Amazon has posted a job on the official website that demands the need for a professional blockchain expert who can help Amazon explore the decentralized finance (Defi) and possibly minting their own token in the future.

This has clearly affected bitcoin’s price, and the cryptocurrency is now trading at $38K, but the stable support is there for Bitcoin with little to no resistance ahead. Another classic event that has occurred in this short time is that the whales have once again raided the crypto market and are now purchasing Bitcoin as it dips from $40K to $38K. They are confident for a bullish trend for Bitcoin as it approaches stable support even if Amazon is not willing to work with it at the moment.

Leave a Reply

Your email address will not be published.

Related

Crypto.com Removes Cryptocurrencies from Earn Program

The current turmoil in the cryptocurrency market has forced a number of companies in the space to shift their strategy and come up with new approaches that can help them pull through the downtrend. Crypto.com is also doing the same as it announced that they are making changes to their rewards program called Crypto Earn. […]

A Particular Even May Help Recover Shiba Inu’s Price

The trading price of Shiba Inu (SHIB) experienced a gigantic plunge that was triggered due to the recent bloodbath of cryptocurrency. SHIB Bleeds Badly As the cryptocurrency industry suffered a bloodbath, the trading price of Shiba Inu experienced an even worse situation. SHIB’s trading price reportedly suffered double-digit losses. Despite suffering huge losses, the analysts […]

Price of Bitcoin Suffered another Dip Due to Cypherpunk Holdings

The price of Bitcoin (BTC) ended up experiencing a dip and it came down to $20,200. Bitcoin’s price dipped due to a strong selling that was nothing less than a bloodbath. A great sell-off activity was recorded for Bitcoin that was triggered by multiple institutions. Even the investment firms ended up selling Bitcoin on a […]

Stocks Slip and Yields Ease in Light of Powell’s Comments

On Wednesday, global indexes saw stocks edge lower for the most part, while Treasury yields eased, as investors were taking in the comments of Jerome Powell, the Chairman of the US Federal Reserve. He said that while there was certainly a risk of the economy slowing down too much because of aggressive hikes in interest […]

Asia-Pacific Stocks Gain with Investors Weighing Economic Concerns

On Tuesday, shares in the Asia-Pacific region climbed higher, as investors were weighing the economic concerns. Most indexes record gains The Hang Seng index in Hong Kong had been trading at a loss but rose 0.7% in the last hour of trading. There was also a 0.73% gain in the Hang Seng Tech index. On […]