The most recent Bitcoin price: Amazon causes digital coin volatility – but how much is bitcoin?
BITCOIN is the most popular cryptocurrency in the digital coin market, but what is its current price considering the market’s volatility?
The price volatility of bitcoin has been a hot topic among analysts in recent months. As a rising number of businesses begin to accept cryptocurrency as payment, prices have risen.
Amazon has dismissed claims that the e-commerce behemoth is considering accepting bitcoin as payment before the end of 2021.
According to City AM newspaper, the shop plans to accept cryptocurrencies as a form of payment by the end of the year, according to an unnamed insider.
The revelation caused a 14.5 percent increase in bitcoin’s price.
These rises, however, were stifled by the denial.
“Notwithstanding our interest in the space, the conjecture that has erupted surrounding our specific plans for cryptocurrencies is not true,” an Amazon spokeswoman stated on Monday after the news broke.
“We are continuing to investigate what this might entail for Amazon customers.” On July 22, Amazon posted a job posting for a digital currency and blockchain product lead, in addition to the report in City AM.
Analysts were divided on whether the move will lead to Amazon accepting Bitcoin as a payment method as a result of the job.
Following a sharp drop in prices earlier this week, the cryptocurrency market appears to be quickly recovering.
Bitcoin gained as much as 15% on Monday.
On Tuesday, however, values for all digital currency fell, with many reversing Monday’s gains.
On Wednesday, the price of bitcoin increased by more than X percent in a single day.
According to CoinMarketCap, the global cryptocurrency market valuation is now $1.55 trillion (£1.12 trillion), up 4.85 percent in the last day.
The overall crypto market is now valued $98.50 billion pounds (£71 billion), down 8.66 percent in the last 24 hours.
However, each of the major digital currency has experienced significant price drops in the last 24 hours.
As of 11:10 a.m. on May 17, Bitcoin is up 7.31 percent, Ethereum is up 3.53 percent, and Dogecoin is up 4.15 percent in the last 24 hours.
Furthermore, numerous digital currency have enjoyed persistent gains in the last seven days, with bitcoin up 27.2 percent, ethereum up 20.97 percent, and Dggecoin up 12.3 percent.
Even cardano, which is self-promotional. “Brinkwire News in Condensed Form.”