Bitcoin
BTC$18 954.19

-0.85%

Ethereum
ETH$1 296.86

-3.33%

Tether
USDT$1.000054

0%

USD Coin
USDC$1.000099

0.02%

Binance Coin
BNB$275.55

-0.88%

XRP
XRP$0.502289

0.18%

Bitcoin rally puts $40,000 in view as Amazon steps up crypto push


26 Jul 2021

#Bitcoin

The price of Bitcoin was approaching $40,000 early on Monday morning after a weekend rally saw the world’s largest cryptocurrency jump around 20%.

Amazon (NASDAQ:AMZN) to accept crypto payments?

One of the catalysts for the move higher appears to be stemming from a job advertisement placed by internet giant Amazon for a Digital Currency and Blockchain Product Lead. The advert says Amazon is looking for an “experienced product leader to develop Amazon’s digital currency and blockchain strategy and product roadmap”.

The advert caused great excitement in the industry on hopes that Amazon might soon begin accepting cryptocurrencies, including Bitcoin, as payment on its e-commerce site.

London-based newspaper City AM appeared to confirm the news on Monday morning. According to an "insider", this is not a first step into setting up cryptocurrency payments at “some point in the future” but is a “full-on, well-discussed, integral part of the future mechanism of how Amazon will work”.

“The entire project is ready to roll,” the "insider" told City AM.

And it is not just Bitcoin that Amazon is reportedly looking to accept as payment. The source said that Ethereum, Cardano and Bitcoin Cash will be next, before the bring “about eight of the most popular cryptocurrencies online”.

Technical Picture

On a technical basis, Bitcoin has broken back above the 21DMA (around $33,000) and the 50DMA (around $34,350). The next key level of resistance is the psychological $40,000 level before the 100DMA which comes in around $40,800. Above that, the 200DMA could also act as resistance at around $44,700. The technical chart pattern has led some analysts to call for further gains, with $50,000 potentially coming back into focus.

“Bitcoin has broken out of its three-month descending triangle at $34,300 and suggests we could have another $17,000 of gains, taking us to $51,000, or thereabouts,” said OANDA Senior Market Analyst Jeffrey Halley.

However, Halley does pinpoint the aforementioned 100 and 200DMAs as levels to get through first before a big push higher. At 08:55BST Bitcoin was trading around $38,225, up 13.0% in the last 24 hours. Other major cryptocurrencies were also trading higher. Ethereum was up by around 8% at around $2,330, Cardano was up 11% at around $1.35 and Dogecoin was up 13% at $0.22.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 84% 26 $18 954.19 -0.85% -3.69% $363 170 326 097 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 71.6% 54 $1 296.86 -3.33% -5.90% $158 895 113 066 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $1.000054 0% 0% $67 958 370 744 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000099 0.02% 0% $49 598 147 661 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 88% 15 $275.55 -0.88% 0.94% $44 457 076 668 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 62.4% 74 $0.502289 0.18% 27.23% $25 038 488 617 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999580 -0.04% -0.15% $20 508 638 534 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 80.4% 33 $0.451128 -2.03% -3.38% $15 442 614 963 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 80.8% 28 $32.92 -2.14% 1.78% $11 674 869 153 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 91.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 88.8% 14 $0.062123 -3.39% 3.63% $8 241 886 870 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 76.4% 41 $6.25 -3.26% -7.59% $6 998 238 426 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92.4% 1 $0.999822 0.01% 0.01% $6 929 280 255 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 72% 55 $0.752062 -2.34% -5.51% $6 568 747 961 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 79.2% 42 $0.000011 -4.59% -2.47% $6 136 754 331 SHIB 7 days price change

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