Apple approaching Cryptocurrency Market with an Open Mind
Cryptocurrency, according to Apple, has a lot of potentials. And, it is very likely to become a part of our payments in the future.
Jennifer Bailey, vice president of Apple Pay, stated, “We’re watching cryptocurrency,” she further said, “We think it’s interesting. We think it has interesting long-term potential.”
It is good to see that the tech giant is approaching the cryptocurrency market with an open mind. Bailey stated,“Interesting long-term potential,” thus leaving the doors open for Apple to dabble in crypto itself or they might choose to slam shut in the future.
The price of the Bitcoin and cryptocurrencies are related to the public interest and the media outlook, and this might be changing in the future.
The price of the Bitcoin has been increasing by more than 200%, and the price recently plateaued near $10,000 after achieving $12,000.
To move the price of the Bitcoin, Google searches could probably be manipulated. There has been a massive increase in Google searches for Bitcoin this week.
Kryptografen’s Bendik Norheim Schei stated, “It is reasonable to assume that someone is behind these radical changes.” He further opined that “similar pattern would be seen across the world indicating VPN services have been used to distribute searches across the world, therefore, achieving a global trend. Google Trends points out that changes have been relatively greater in Romania. Whether this is the source or is because there have been fewer searches for BTC previously? Whatever the answer is–something strange has happened to the interest in the keyword ‘BTC’ over the past week.”
Glen Goodman, recently stated, “Somebody’s trying to game the trading algorithms.”
Several programs are written to code algorithms to look into Google trends and to identify the correlation between the several keywords for “BTC” and as well for the price of the Bitcoin.
The Bitcoin price action has been working sideways and the growth stalled at the critical support level near $10,500. With Asian traders coming to the market, the price started to move higher.
“The bottom line is there is a whole generation of people who have faith in the internet; they have faith in these cryptocurrencies…the degree to which a cryptocurrency can enable you to buy something, and you believe that to be the case, then that’s fine.”
There are still many investors who are sceptical about cryptocurrency; however, the trend is expected to change.
By DAN SAADA