Stripe’s Revives Crypto Payments with Stablecoin Integration
President Jack Collison announced its re-entry in the crypto sphere, where Stripe users will be able to pay with USDC beginning this...
Bitcoin price has been threatening a further drop, trading near the $30,000 USD support level early this week. To make matters more volatile, experts and analysts in the field are predicting that the token will possibly be looking at a bearish trajectory.
With a nearly 11% price drop over the past 24 hours of trading, Bitcoin is showing little to no signs of a short-term uptrend. After tagging an all-time high of $64,863 USD in April, Bitcoin has struggled to retain any strength in the market. At the time of writing, the cryptocurrency is looking at a $32,759 USD price tag.
According to Janet Yellen, United States Treasury Secretary, has voiced that she foresees higher inflation – an indicator that would usually promote the price of Bitcoin. Instead, Bitcoin dropped a further nearly $1000 USD after a minor rebound back to $33,000 USD.
Crypto Ed, one of the industry’s prominent traders, noted that he sees Bitcoin bouncing down before taking a step back up:
#BTC update
It did the white ABC I posted before the weekend. Now in green box but I’d expect 1 more leg down today, followed by a bounce to ~35k
From there down again, sub 30k, or “up only” again, but the latter feels more like a miracle tbh. pic.twitter.com/WuLcdzbcnY— Crypto_Ed_NL (@Crypto_Ed_NL) June 8, 2021
While it is still early days, analysts believe this might be beginning of another cryptocurrency winter heading out of a significant bull run. As Timothy Peters, of Cane Island Alternative Advisors investment, put it, this drop has lasted 17 days consecutively with no signs of a rally. He noted that historically, this has signalled the end of a bull run.
#Bitcoin price has dropped below 200-SMA for 17 consecutive days and counting. This metic has *always* marked the end of a bull run and the start of a bear market. pic.twitter.com/6dpiFbUI7A
— Timothy Peterson (@nsquaredcrypto) June 7, 2021
President Jack Collison announced its re-entry in the crypto sphere, where Stripe users will be able to pay with USDC beginning this...
S&P Global shared a research proposal introduced to the Senate outlining Payment Stablecoin Act that could encourage banks in the US.
Finland has integrated two Bitcoin mines with district heating facilities enabling heating homes while mining BTC.
According to PayPal’s Blockchain Research Group, it wants to designate green miners and reward them with additional Bitcoin.