Bitcoin (BTC) Price Falls 8% as Amazon Denies Bitcoin Payment Plans

Bitcoin’s price hit $ 40,000 to lock in a new monthly high of $ 40,499, before falling 8% today to a daily low of $ 36,441. The top cryptocurrency is currently trading at 37 $ 141. The 8% drop following yesterday’s price rise is due to news about Amazon’s bitcoin payments.

Yesterday, most media reported that Amazon plans to add the ability to pay with bitcoins to the platform by the end of the year, based on confirmation from an unknown insider. The news was first published by Cityam and later supported by almost everyone, including Bloomberg and The Wall Street Journal. So the BTC price was thought to have jumped more than 15% yesterday, rising from $ 35 287 to $ 40 499.

Rumors have been circulating since Amazon revealed they are looking for the business, crypto and blockchain executive to join the team. However, an Amazon spokesman denied such reports and said:,

“Despite our interest in space, the assumptions that have arisen around our specific plans for cryptocurrencies are not true, we continue to focus on learning what it might look like to customers who shop on Amazon.”

The revelation was an opportunity to make jokes on crypto-Twitter, as many speculated that Amazon was an insider. Many joked about Apple’s crypto debut.

It doesn’t matter, my sources have discovered that Steve died ten years ago, so he probably doesn’t use Ethereum validator either

– Kobe (@CryptoCobain), July 27, 2021

Crypto community falls victim to fake news again
This was not the first time the crypto community has fallen victim to fake news, a recurring theme in a decentralized ecosystem. Earlier this month, another fake news story about an Israeli sovereign fund investing $ 2.3 billion in bitcoin hit the headlines before it was dismissed. The fake news was even shared by the Israeli consulate in China, which was later removed.

The main reason for such fake news is fake profiles on Twitter.

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