Bitcoin Reverses After Amazon Denies Acceptance

Reading Time: 2 minutes Amazon yesterday denied that it plans to accept Bitcoin, causing the price to drop after a six-day run Bitcoin had rallied from $29,000 to $40,600 in the past week, effectively on multiple short squeezes Bitcoin remains in the same two-month old channel Bitcoin retraced over $4,000 yesterday after Amazon denied reports that it was considering accepting the cryptocurrency by the end of the year. Bitcoin had been enjoying a stellar week having bounced from $29,000 to $40,600 over six days, but the rebuttal of the news by Amazon, which had seemed to have prompted the final 10% spurt yesterday morning,
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