Bitcoin Bulls Smash Through Key Resistance
BitStamp exchange data shows that BTC surged to about $48,635 today. Despite declining to about $42,800 yesterday, the king coin has still gained over 11% in the past 48 hours.
BTC To Attempt Next Key Resistance
BTC would now attempt to surge past the key $48K resistance range, preventing it from moving and sustaining the over $50K price range. The bears would be confident that BTC might not move past the $50K range because it failed to do so in its few attempts.
BTC/USD chart. Source: TradingView
However, BTC’s strong bullishness in recent days might help push it past the $50K. It is remarkable to note that altcoins are also rallying, with ADA leading the way as Cardano‘s Alonzo upgrade moves closer.
Resilient Bitcoin Is Impressive
A top-level executive at a crypto custody firm, Jurrien Timmer, was so impressed by the recent price actions of the tokens in the crypto space that he shared his feelings on Twitter.
Jurrien Timmer Tweet. Source: Twitter
Bitcoin has been struggling with various lows after Tesla stopped accepting Bitcoin payments for its cars and Chinese authorities made its region a harsh environment for crypto mining activities.
Now that Bitcoin bulls are back; the BTC rally is impressive to people like Timmer. He even took a jab at those he tagged tourists, saying they belong to the bottom 18% of the market.
World Line Partners With Bitcoin Suisse
Worldline has announced a collaboration with Bitcoin Suisse that will enable Swiss merchants to complete their transactions in cryptocurrency. This payment solution is named WL crypto payment and will enable all Worldline merchants in Switzerland to complete their transactions using worldline’s offline and online platforms.
Switzerland’s blockchain and cryptocurrency adoption rate is the highest among any European country. A side benefit of this new partnership is that more customers will gain greater exposure to the world of digital currencies.
Also, it presents various opportunities for digital currency firms and payment solution providers. Worldline’s CEO expressed happiness at the company’s efforts in simplifying crypto payments acceptance by merchants in the country.
Integrating Bitcoin On E-Commerce Platforms
The main factor fueling wider Bitcoin adoption in recent times has been through e-commerce platforms. Even though most investors use Bitcoin as a safe-haven asset, it has now found usefulness in e-commerce and other payment alternatives.
However, the COVID-19 pandemic has contributed to a faster rate of cryptocurrency adoption in the last 12 months. For instance, a healthcare tech company called progressive care revealed today that those who require coronavirus tests could make payment with cryptocurrency. They did this to help foreigners access their service fast and easily without needing access to fiat currency.
Several wall street companies have now incorporated crypto-related features or services in their arsenal despite Amazon denying rumors of its plan to start accepting Bitcoin payments. The actions of these tech companies and other service providers show that they have accepted the reality about cryptocurrency, especially Bitcoin, to remain with us forever. While there will always be certain persons or groups using digital currencies for illicit purposes, their overall purpose remains for the good of society.
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