There are media reports that e-commerce giant Amazon intends to accept Bitcoin as a means of payment before the end of this year, but Amazon denies this.
The London business newspaper "City AM" quoted an "insider" who did not want to be named to report the above news, which pushed the world's largest cryptocurrency to rise 14.5%, and then closed up 6% to 37684.04 US dollars.
An Amazon spokesperson said on the 26th, "Although we are interested in this area, the speculation surrounding our specific plan to use cryptocurrency is untrue." What will it look like to a shopping customer."
On July 22, the company announced a vacancy for the head of digital currency and blockchain products.
Earlier on the 26th, the recruitment information released by the retail giant raised questions from analysts, who questioned whether the move would eventually lead to Amazon accepting Bitcoin as its payment method.
The company's denial of this news caused Bitcoin to fall below $37,000. At the same time, the prices of competing currencies such as Ethereum and Litecoin also fell.
Investors were eager to cover their positions to bet short positions, which pushed Bitcoin to soar earlier in the day. It rose by more than 17% on the 26th to $40,545, the highest level since June 15. According to data provided by the "Bybt.com" website, a total of more than US$950 million in cryptocurrency short positions were liquidated on the 26th, the highest level since May 19th.
Vijay Ayar, the head of the Asia-Pacific region of the cryptocurrency exchange "Luno", said, "When our price moves downward, short positions are also accumulating. Assuming our lowest expected price is 25,000 US dollars, this will be "All market expectations", "but then there was a lot of accumulation in the range of 29,000 US dollars to 30,000 US dollars, which caught many shorts by surprise and caused their prices to rise in the spring."
Ayar also stated that Bitcoin's current price volatility is one of the broader volatility corrections since the record set in April this year. He also said that its price may rebound to 45,000 US dollars in the near future, after which it may fall again to complete the adjustment process.
He also added, "We see that adjustments are still going on."
More and more companies are accepting virtual currency as a means of payment, bringing this asset class that until recently has been avoided by major financial institutions closer to the mainstream.
Last week, Elon Musk, CEO of electric car manufacturer Tesla stated that once his company completes a responsible investigation of the amount of renewable energy used for Bitcoin mining, it is likely Will re-accept Bitcoin as a means of payment.
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