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Amazon rumors about Bitcoin sent the crypto market on a rollercoaster

Updated: Aug 1, 2021

The insider's post about Amazon's plan to accept Bitcoin as payment as well as Amazon's later announcement that this was fake news, were detected by Crowdsense before the spikes in Bitcoin's price.

An anonymous insider reported to London business newspaper City A.M. that Amazon is planning to start accepting Bitcoin payments by the end of 2021. They also said that "It begins with Bitcoin”, showing that the giant also has plans for other coins.

Crowdsense detected this event on 25/07/2021 at 05:49 (EST), 12 hours before the beginning of the Bitcoin price spike. The price jumped 13.1% during the next 2 hours, reaching almost $39,000.

On the day after, the price continued to climb to $40,000, but this happiness didn't last for long. Once Amazon announced that this information wasn't true, it broke the expectations of crypto traders about the potential partnership and sent the price down.

Crowdsense also detected this second event on 26/07/2021 at 15:59 (EST), 7 hours before the end of the Bitcoin price drop of 6.6%.

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Amazon rumors about Bitcoin sent the crypto market on a rollercoaster



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