Bitcoin Price Drops $1,000 In 12 Hours After Amazon Dispels Bitcoin Integration Rumors

Bitcoin price promptly lost $1,000 in 12 hours after an Amazon spokesperson confirmed that the company was not planning to add bitcoin to its platform. The price which had seen a major uptick in the price in the day following the news of the company accepting bitcoin has now started to correct back down. Amazon rumors circulated the market, contributing to major gains in the crypto market. Coins like Bitcoin and Dogecoin saw over 10% gains added to their prices in just 24 hours. The crypto market recorded significant gains as the market saw hundreds of millions of shorts liquidated in a short period of time. Related Reading | Over $800 Million Bitcoin Shorts Liquidated As Price Surges 12% In 24 Hours As news spreads around the market of the denials, prices continue to fall across the board. Cryptocurrencies like Bitcoin and Ethereum have recorded dips in their prices in the last 12 hours following this. Amazon Interested In Cryptocurrencies A spokesperson for the company denied all rumors of Amazon integrating bitcoin on their platform and making its own native token. But this doesn’t mean that the company has no interest in the cryptocurrency industry. According to the spokesperson, Amazon will continue to explore the space and see what it holds for its customers. “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We rem...