Bitcoin breaks $7900 after Bakkt and Gemini news and eBay rumors

13 May, 2019
by Jelmer van der Dussen
Price Action
Bitcoin breaks $7900 after Bakkt and Gemini news and eBay rumors

Bitcoin is on another rally today, as a result of a lot of positive news coming in. The most recent news, Bitcoin futures exchange Bakkt starting to open up testing in July, has pushed the price of BTC over $7900 for a short moment.

Bitcoin is up over 10% in the last 24 hours, after cooling down from last week's rally and taking a breath around the $7000 level on Sunday. Now, Bitcoin is trading above $7800 on various exchanges, with the price briefly hitting $7960 on the BTC/USD market on Coinbase.

The latest Bitcoin push started this morning and received an extra boost at the moment Bakkt announced it will open up testing for its futures platform in July. This means two types of Bitcoin futures are coming very soon.

BTC/USD Chart provided by Tradingview

It's not the only bullish news coming from the space today, with Microsoft announcing it will launch a decentralized identity tool on the Bitcoin blockchain. Next to that, there are rumors eBay will start accepting cryptocurrency payments, with the company present on Consensus2019. On billboards, the company says that 'virtual currency is happening on eBay'.

Big retailers accepting cryptocurrencies
And at the same time, Gemini partnered up with payment startup Flexa to enable major retailers to accept cryptocurrency payments in store. The SPEDN mobile wallet app already launched today, and lets you pay with Bitcoin, Ethereum, Bitcoin Cash and Gemini USD. Big companies are involved, with Crate and Barrel, Nordstrom, Starbucks and Whole Foods now accepting four different cryptocurrencies.

With Consensus 2019 happening until Wednesday, a lot more positive news is expected for the cryptocurrency space.

Bitcoin dominance
With Bitcoin rallying again, BTC is leaving altcoins behind. The dominance of Bitcoin is now 60%, the highest level since December 2017.

Earlier today, Bitcoin trader Tone Vays said that he expects BTC to go all the way up to $9400 if it would break $7500, which it did. 'There is nothing in between there', Vays said

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