Amazon Rumours Push Bitcoin Price to Record Highs

What’s bigger than bitcoin right now?

How about bitcoin PLUS Amazon!

As bitcoin reached record highs last week, analysts were busy scurrying around trying to find a reason for the unrelenting surge.

Some stated the potential coming hard fork event might be the catalyst, as last time this occurred in August bitcoin (BTC) holders picked up ‘free’ bitcoin cash (BCH) after the split.

These free tokens turned out to have real value.

Perhaps history will repeat itself, speculated some analysts.

Amazon to Accept Bitcoin?

A bigger rumour that just came out yesterday was that the world’s biggest online retailer Amazon [NASDAQ:AMZN] could be set to accept bitcoin as a means of payments on its website.

Retailers have done this in the past to little effect. But someone as big as Amazon, in the current red hot environment of cryptos, could put an even bigger rocket under the price.

A third rumour was that China is set to reverse its recent bitcoin ban.

No matter what the cause, however, Bitcoin is surging again.

And if the mere rumuor of Amazon accepting cryptocurrency can cause value to rise by thousands of dollars in mere weeks, imagine what the outlook would be if it turned out to be true.

Let’s take a look at prices on the key cryptos over the last 24 hours (priced in AU$, 10am. Source: coingecko.com)

Bitcoin Price: $7,210, +0.91%

Ripple Price: $0.33, +0.286

Ethereum Price: $426, -1.56%

Zcash Price: $295, -2.74%

MaidSafeCoin Price: $0.49, +0.34%

With interest growing around the world, there has never been a better time to learn more about cryptocurrency’s incredible potential.

But there’s some very real risks for investors. Read this free report to find out more about the secret world of cryptocurrencies.

Regards,

Ryan Dinse,
Editor, Money Morning


Ryan Dinse is an Editor at Money Morning.

He has worked in finance and investing for the past two decades as a financial planner, senior credit analyst, equity trader and fintech entrepreneur.

With an academic background in economics, he believes that the key to making good investments is investing appropriately at each stage of the economic cycle.

Different market conditions provide different opportunities. Ryan combines fundamental, technical and economic analysis with the goal of making sure you are in the right investments at the right time.

Ryan's premium publications include:


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