Why BTC Price Falls Again: Amazon Denied Rumors

Yesterday, the Bitcoin rate rose by 17% and, as a result, exceeded $40,000 for the first time since mid-June. Lastweek, the price of the cryptocurrency dropped below the $ 30,000 level, after which it moved to growth.

Along with this movement, the increase in the price of Bitcoin since the beginning of the year has reached 38%, which is twice as high as the S&P 500 stock index.

“Bitcoin is still showing strength, althoughmoods become euphoric again as they approach the end of the range. The trend reversed as the market made a higher high. I am still looking forward to a higher low around $ 34,500 - 36,000 in the coming weeks unless the $ 41,000 level is passed. "- wrote earlier analyst Michael van de Popp.

Bitcoin price jump at least overnightwas partly caused by the liquidation of short positions, the holders of which were forced to buy cryptocurrency and thus pushed the market up. Over the past hour, liquidation volume has increased again, albeit on a smaller scale, indicating that traders have tried again to go short ahead of a psychologically significant level.

Another growth factor was nameda message that Amazon is preparing to start accepting bitcoin before the end of this year. According to Zero Hedge, the company denied this information and stated that it does not intend to release its own cryptocurrency in 2022, as stated in the publication City A.M., but promised to continue exploring the digital asset space. After that, the bitcoin price lost about 5% and is now trading around $ 37,000.

“We are interested in this technology, but the rumors surrounding our plans to use cryptocurrencies are wrong. So far, we are only exploring the possibilities of this technology for buyers on Amazon "- said a spokesman for Amazon in an email.

At the same time, the retailer acknowledged that cryptocurrencies attract young and tech-savvy buyers, and new technologies can make payments cheaper and faster.

“We are inspired by the innovations that take place incryptocurrency industry and we are thinking about how to use them at Amazon. The future will be built on new technologies that make payments faster and cheaper, and we hope that for Amazon customers this future is coming very soon. ", The company said in a statement.

In addition, the financial statements for the secondquarter yesterday presented by Tesla. Contrary to optimistic expectations, the company did not increase its position in bitcoin, but did not cut it either. Tesla continues to hold about $ 1.3 billion in crypto after liquidating a portion of the position in the first quarter.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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