Bitcoin Price Drops $1,000 In 12 Hours After Amazon Dispels Bitcoin Integration Rumors<\/a><\/strong><\/em><\/p>\nThe rate at which the Fed prints fiat money continues to be a concern for investors. This could lead to inflation if the amount of paper money being printed is not controlled. To this end, Bitcoin becomes an attractive asset for investors who are worried about inflation. Given the limited supply of the asset, there is simply no way for an individual or government to print or make more coins. Hence, fighting inflation.<\/p>\n
Bitcoin continues to see bullish movement. At the time of this writing, the asset price has now broken $40,000 and continues to trend upward.<\/p>\n
Featured image from NBC News, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"Fast Money trader Brian Kelly was on the show recently to talk about Bitcoin\u2019s recent price surge. The surge which had happened at the end of the weekend had seen the price of Bitcoin rise over 10% to surpass $39,000, gaining over $4,000 within a day. Brian Kelly agreed with show host Melissa Lee saying that the short-covering contributed to the price surge. Kelly explained that a high number of short coverings around the asset saw the price shooting up as the weekend drew to a close. A lot of factors have been speculated to have given rise to the price spike. Related Reading |\u00a0Bitcoin To Reach New All-Time Highs, Market Strategist Rumors of Amazon integrating Bitcoin on its platform had been the front-running theory behind the price spike. But Kelly explained that the rumors were only part of the reason that the digital asset had seen significant movement. Outlining other factors that contributed to the rally. Catalyst For Price Spike Brian Kelly addressed the speculations of the Amazon news being the main catalyst for Bitcoin\u2019s price surge. Kelly explained that the Amazon news had been out in the market about a week before the momentum picked up. According to Kelly, the high amount of shorts coupled with the news of Amazon and Tether\u2019s news led to a \u201cbig short squeeze\u201d as the weekend drew to a close, which is when the market is usually less liquid than usual. BTC price breaks $40,000 for the first time in over a month | Source: BTCUSD on TradingView.com The short squeeze had seen over $1 trillion shorts liquidated in a matter of 24 hours as the price surged. With Bitcoin contributing over 70% of this amount, seeing over $800 million shorts liquidated in the same period of time. Following the short squeeze has been a bounce-back of the trading volume and volatility levels of Bitcoin, which had been trending at yearly lows for about a month. The digital asset has since picked up momentum and the market seems determined to ride out this wave for as long as possible. Still Bullish On Bitcoin Kelly responded to a question regarding the price of the asset bouncing back before reaching $40,000. Saying that the bounce had come as no surprise. Kelly personally remains bullish on bitcoin. \u201cThe real game here is whether or not it is going to be adopted as an institutional asset,\u201d Kelly said. \u201cAnd I don\u2019t see anything that has changed my mind on that.\u201d Continuing on, Kelly added the decision of the federal bank and federal reserve to keep printing money could be a determining factor. To which Kelly said, \u201cBy my score, I don\u2019t see how they cannot continue to print.\u201d Related Reading |\u00a0Bitcoin Price Drops $1,000 In 12 Hours After Amazon Dispels Bitcoin Integration Rumors The rate at which the Fed prints fiat money continues to be a concern for investors. This could lead to inflation if the amount of paper money being printed is not controlled. To this end, Bitcoin becomes an attractive asset for investors who are worried about inflation. Given the limited supply of the asset, there is simply no way for an individual or government to print or make more coins. Hence, fighting inflation. Bitcoin continues to see bullish movement. At the time of this writing, the asset price has now broken $40,000 and continues to trend upward. Featured image from NBC News, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":468283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11924,1119,1144,78790,15129,79520],"class_list":["post-468282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-brian-kelly","tag-btc","tag-btcusd","tag-btcusdt","tag-fast-money","tag-xbtcusd"],"acf":[],"yoast_head":"\n
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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fast Money\u2019s Brian Kelly Remains Bullish On Bitcoin, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/brian-kelly-bullish-on-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/brian-kelly-bullish-on-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/bitcoin-3.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/bitcoin-3.jpeg?fit=2500%2C1736"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","brian kelly","btc","btcusd","btcusdt","fast money","xbtcusd"],"dateCreated":"2021-07-28T23:00:52Z","datePublished":"2021-07-28T23:00:52Z","dateModified":"2024-06-11T08:17:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fast Money\\u2019s Brian Kelly Remains Bullish On Bitcoin, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/brian-kelly-bullish-on-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/brian-kelly-bullish-on-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/bitcoin-3.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/bitcoin-3.jpeg?fit=2500%2C1736\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"brian kelly\",\"btc\",\"btcusd\",\"btcusdt\",\"fast money\",\"xbtcusd\"],\"dateCreated\":\"2021-07-28T23:00:52Z\",\"datePublished\":\"2021-07-28T23:00:52Z\",\"dateModified\":\"2024-06-11T08:17:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/bitcoin-3.jpeg?fit=2500%2C1736","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/468282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=468282"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/468282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/468283"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=468282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=468282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=468282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}