[Daily Discussion] - Wednesday, July 14, 2021 Bitcoin Markets |
- [Daily Discussion] - Wednesday, July 14, 2021
- U.S. Online Retailer Accepts Bitcoin and Other Cryptocurrencies Payments
- Why I'm Setting Buy Orders at $21K (Weekly BTC Forecast)
| [Daily Discussion] - Wednesday, July 14, 2021 Posted: 13 Jul 2021 09:00 PM PDT Thread topics include, but are not limited to:
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| U.S. Online Retailer Accepts Bitcoin and Other Cryptocurrencies Payments Posted: 13 Jul 2021 02:35 PM PDT Wellbots, a major smart products e-retailer in the United States, has become the latest company to add the cryptocurrency payment option on their platforms, as the online retailer is now accepting bitcoin, ether, and other cryptocurrency assets. Wellbots Enables Purchase With Crypto The e-retailer made the announcement in a press release on Monday (July 12, 2021). According to the platform, customers can pay for smart products with six cryptocurrencies. They accepted crypto assets include bitcoin (BTC), ether (ETH), litecoin (LTC), bitcoin cash (BCH), DAI, and USD coin (USDC). Before adding the crypto payment option, Wellbots could only purchase items using Google Pay, Amazon Pay, Credit Card, Shop Pay, Affirm, and PayPal Meanwhile, the addition of cryptocurrencies brings the total number of payment methods to 12 on the online platform. According to the announcement, the expansion of payment options makes it easier for customers to shop on the online retailer's website. Commenting on the latest development, Phil Berdugo, Wellbots' CEO, said:
The use of cryptocurrency as a payment method continues to see increased adoption, despite the volatile nature of bitcoin and other crypto-assets. With the emerging technology becoming popular, more companies are adding cryptocurrency into their payment options in order to attract more customers. As reported by BTCManager back in April, WeWork announced that it was accepting payment in BTC, DAI, USDC, and ETH. Convenience store chain, Sheetz, revealed in May that it would soon start accepting bitcoin and other crypto assets. Other companies that have integrated crypto as a payment means include HGreg and the Kessler Collection. Meanwhile, the crypto payment option is also gaining ground in the e-commerce sector. Apart from Wellbots, online retail platforms like Newegg also accept crypto. The e-commerce giant eBay revealed back in May that it was mulling accepting cryptocurrency as payment. Earlier in July, global payment giant Visa revealed that its crypto debit and credit cards processed $1 billion in transactions in the first half of 2021. https://btcmanager.com/us-online-retailer-bitcoin-cryptocurrencies-payments/ [link] [comments]  |
| Why I'm Setting Buy Orders at $21K (Weekly BTC Forecast) Posted: 13 Jul 2021 05:34 PM PDT Bitcoin pulled back to start the week, getting rejected by the 50 Week EMA and falling to about $32K on Tuesday. Bitcoin has been forming a bit of a sideways consolidation pattern for the past 2+ months, and based on this week's bearish start, it looks like Bitcoin's bound to resolve this sideways pattern to the downside in the near-term. (July 13, 2021 8:30PM EST) Short-Term (chart here)Bitcoin's short-term prospects look bearish as the 2-month sideways consolidation appears to be leaning towards breaking lower. This almost assuredly means Bitcoin will retest support at $30K. If there's more pain to come, then we could see a drop down to the 78.6% fib retracement of the Sept '20 - May '21 rally around $21,679 which would assuredly get bought up as it hovers just above the 2017 highs which should provide massive support. This has now become my primary view. If this happens, I still expect a massive capitulation candle that results in a violent bounce back up to $30K or higher, which should kickstart the next leg of the bull market rally. Dip-buyers will be rewarded, as they historically always have been with Bitcoin. However, by nearly every measure, Bitcoin is still in a long-term bull market cycle. From a probability perspective, sellers are simply chasing the trade at this point; the point of least resistance over the med-long term is up, not down. For nearly all investors/traders, bull markets are when you BTFD, not fade the rally (small subset of active investors). BTC DominanceBitcoin Dominance has been pretty quiet lately, treading water around the 35-40% area as we wait for Bitcoin to resolve a sideways consolidation pattern on the weekly chart. While the triangle points lower, BTC.D may not suffer, as alts are faring worse than BTC. As a matter of fact, this may be a boon for BTC.D as more capital rotates out of alts down 60-70% and into BTC which typically leads the entire crypto market in recoveries. Long-TermBTFD. Fundamentals have not changed. Daily and even weekly charts will show relatively large corrections; this is standard bull market behavior. Now that another altseason has been spectacularly squashed, this sets us up for another Bitcoin leg up to new highs. By nearly every measure, we are nowhere near a top; in fact, we are maybe halfway through this bull market. What do you do during bull markets? Buy. The. Dip. Support: $30K, then 78.6% fib retracement around $21,679.Resistance: $35K, $40K, then $45K.[link] [comments]  |
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