Great Industry News Push Bitcoin Towards $8,000
The cryptocurrency industry today has been flooded with positive news, but some of them seem to have made a real impact on the price of Bitcoin. The news of Bakkt launching a user acceptance testing in July and the unconfirmed reports that eBay might start accepting crypto payments are the possible contributors to the incredible green move Bitcoin is making.
After spending some time at $7,000, Bitcoin has since taken off again and now pushing hard towards the $8,000 mark just around the time that these headlines hit the net. Although Bitcoin has been soaring alone, this time it has carried altcoins along as Ethereum has crossed $200 with a gain of 8.34% and XRP is catching up with 5.38% in the last 24 hours.
Microsoft has also broken the news of the launch of its decentralized identity tool on the Bitcoin blockchain which is the first of such project to launch on the Bitcoin blockchain. As Microsoft is a major computer software company with users all over the globe, this information is bound to have a profound effect on the price of the number one cryptocurrency.
A major retail store like eBay accepting Bitcoin is another reason why the price is sure to rise. Not just that. Gemini has also made it possible for customers to pay for goods from major retailers using Bitcoin, Ethereum, Bitcoin Cash and Gemini USD with the help of its mobile app SPEDN which will work in collaboration with payment startup Flexa.
Meanwhile, XRP and LTC also have some good news which could potentially lift their prices. The two assets have been listed on German exchange Boerse Stuttgart as Exchange-traded Notes. German and Swedish customers of the exchange now have access to monitor the future of the two assets which are already listed on the exchange since April.
As the bullish movements continue, crypto analyst Tone Vays says he sees the asset going above $9,000 in no time. If the trend continues, probably due to more good news, Bitcoin may be hitting the $20,000 all-time high sooner than expected.