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Twitter, Tesla and Amazon all reportedly looking at Bitcoin, but is it too good to be true? 🧐



A busy week for Bitcoin saw the price recover from $30,000 last week to more than $40,000 on Monday evening, where it’s still changing hands this morning. It was the first time since mid-June that the bitcoin price has exceeded $40k, which is becoming an increasingly stubborn point of resistance for the world’s largest cryptocurrency.

 

The price action meant that the mood among crypto fans has been positively jubilant after a difficult run that last week saw many questioning whether the price could actually drop below $30,000.

 

It’s hard to pinpoint one exact cause for the reversal in momentum, but we were positively overwhelmed with bullish news this week. Twitter CEO Jack Dorsey committed personally to integrating bitcoin payments into the social media platform, while Tesla founder Elon Musk reaffirmed his commitment to bitcoin and suggested improvements to its renewable energy mix meant the electric car giant could soon start accepting it as payment again.

 

There were also reports in UK national newspapers that retail giant Amazon could enable purchases in cryptocurrency and even introduce one of their own, though they have since offered a denial of sorts. Though that seems to have made little difference to the price, which seems to be holding strong. Will this be the week it finally breaks out of the $30-40k range?

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