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Bitcoin Falls Under $5,300 Again as Top Altcoins See Losses

Bitcoin falls under $5,300 again as top altcoins see losses

Bitcoin Falls Under $5,300 Again as Top Altcoins See Losses

Bitcoin falls under $5,300 again as top altcoins see losses

Sunday, April 21 — most of the top 20 cryptocurrencies are reporting slight to moderate losses on the day to press time. Bitcoin (BTC) has fallen below the $5,300 mark again, according to data from Coin360.

Market visualization courtesy of Coin360

Bitcoin is down just under 1% on the day, trading at $5,291 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 3.7%.

Bitcoin 7-day price chart. Source: CoinMarketCap

As Cointelegraph reported earlier today, Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company’s bitcoin sentiment indicator Bitcoin Misery Index has never been seen in a bear market.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which is nearly $17.9 billion. The second-largest altcoin, XRP, has a market cap of $13.4 billion at press time.

CoinMarketCap data shows that ETH is down over 2.5% over the last 24 hours. At press time, ETH is trading around $169. On the week, the coin has also seen its value increase by nearly 3%.

Ether 7-day price chart. Source: CoinMarketCap

XRP is conversely down 2.7% over the last 24 hours, and is currently trading at around $0.321. On the week, the coin is up nearly one percent. Furthermore, the coin’s current price is also over 6.85% lower than the mid-week high that it reported on Thursday.

 

XRP 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies by market cap, the coins reporting the most notable price action are litecoin (LTC), ethereum classic (ETC) and ontology (ONT), all over 6% down.

At press time, the total market capitalization of all cryptocurrencies is $176.9 billion, over 2.25% percent lower than the value it reported a week ago.

Total market capitalization seven-day chart. Source: CoinMarketCap

World famous tennis player Serena Jameka Williams recently revealed that her investment business Serena Ventures has silently invested in over 30 companies, including major cryptocurrency exchange Coinbase.

Published at Sun, 21 Apr 2019 16:46:08 +0000

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Japan: Bitcoin Payments Could See 260,000 Stores by Summer

bitcoin payments may be accepted at over 260,000 stores in Japan by this summer following partnerships between the country’s bitcoin exchanges and major retailers.


Bic Camera to Trial bitcoin Payments

Japanese electronics chain Bic Camera has partnered with Tokyo-based bitFlyer, which runs the country’s largest bitcoin exchange that currently comprises about 10% of the bitcoin market.

This Friday, Bic Camera’s flagship shop in Tokyo’s Yurakucho district along with Bicqlo Bic Camera, a hybrid outlet with Uniqlo, will begin a trial run using bitFlyer’s bitcoin payment system, according to the official release.

Customers will be able to pay up to 100,000 yen (~$900 USD) with bitcoin, which will also include reward points at the same rate as for cash payments. The trial will determine if Bic Camera will expand bitcoin payments to its other 39 nationwide locations.

260,000 Merchants Can Now Accept bitcoin

Meanwhile, another Tokyo bitcoin exchange, Coincheck, has partnered with Recruit Lifestyle, the retail support arm of human resources conglomerate Recruit Holdings.

Coincheck, which currently holds 99% of the bitcoin payment market share in Japan, will bring bitcoin payments to shops that use AirRegi, a point-of-sale app developed by Recruit Lifestyle, by this summer.

To pay with bitcoin, customers can simply scan the barcode displayed on the app. Coincheck will process the transaction, converting the bitcoin into yen for the merchant.

Additionally, the app also supports Alipay, China’s leading third-party payment solution. However, Chinese tourists visiting Japan will be able to finally spend their bitcoin, something they cannot do in their home country.

Today, the most popular electronic payment options in Japan include Suica and Rakuten’s Edy, which are accepted at 380,000 and 470,000 locations, respectively. But with these recent moves, virtual currency could soon enter their ranks as AirRegi terminals are already used at 260,000 eateries and other retail locations nationwide.

Japan: Land of the Rising Bits

bitcoin transaction volume in Japan began to increase significantly since 2016, and in January 2017 its volume exceeded 541.1 billion yen (about 20 times compared to the same period last year).

Just recently, on April 1, 2017, Japan’s Payment Services Act for virtual currencies went into effect, recognizing bitcoin as a legal payment option while forcing cryptocurrency exchanges to register with the government. Starting in July, purchases of virtual currency will be exempt from the consumption tax.

Overall, the new regulations and tax incentives are expected to boost consumer confidence and growth of the domestic virtual currency market, which already had over 4,000 locations accepting bitcoin.

Will these new partnership make bitcoin a mainstream payment method in the country? Share your thoughts below! 


Images courtesy of Shutterstock, air-regi.com, 

The post Japan: Bitcoin Payments Could See 260,000 Stores by Summer appeared first on Bitcoinist.com.

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