Bitcoin Settles at $39K After Stripe Onboards Crypto

Bitcoin Settles at $39K After Stripe Onboards Crypto
  • Stripe announced that it will now be providing support to crypto-based businesses.
  • Bitcoin appears stable at the $39,000 price range. 
  • On the other hand, Bitcoin price has been finding it difficult to hold the $40,000 line in the last couple of months.

Despite an overnight dump, Bitcoin has now settled at $39,000 amid new developments in the crypto space. This time, global payments platform Stripe announced that it will now support businesses that accept crypto payments.

As explained by Co-Founder John Collison, the new update will enable the company to support all types of businesses that dabble in cryptocurrencies. These include exchanges, wallets, NFT marketplaces, and more.

Partner businesses are also entitled to Know-Your-Customer (KYC) and other infrastructure from Stripe. What is more, FTX, said that it has partnered with Stripe to use the latter’s automated ID verification system to the former’s platform.

Many in the crypto space came alive with the recent announcement.

Meanwhile, the price of Bitcoin appears to have settled at $39,000 despite an overnight selloff.

BTC/USDT 4-hr chart (source: TradingView)

As seen on the chart above, Bitcoin price has recovered from the bloody dip at $38,000. It looks poised to return to the $40,000 territory once more. However, this price level appears to be unstable ground. Specifically, Bitcoin has lost its $40,000 support many times over in the last couple of months.

At the time of writing, Bitcoin price is at $39,416.53, according to CoinGecko. It also slashed $52 billion from its market capitalization in the last 24 hours. In other news, a dormant address that held 429 bitcoins moved his or her asset after slumbering for more than 10 years.

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