- Bitpay, the global Bitcoin payment service provider, reports soaring payments volume this year
- Bitcoin (BTCUSD on xStation5 platform) could be susceptible to a decline
- Government head of IT fired for mining Bitcoin using state-owned hardware in Crimea
Bitcoin has yet to recover since the beginning of October as the Chinese crackdown has kicked in. The price of the most famous digital currency failed to break a resistance close to $4400 and therefore it may head south. Even as the price has remained quite sluggish lately, it’s worth noting an interesting story from Bitpay which is the global Bitcoin payment service provider.
The web of Bitpay’s activity concentrates in the US and Europe. Source: bitcoin.com
The company has released a report pointing to the firm’s payment volume has growth exponentially this year as much as 328%. The Atlanta-based company founded in 2011 it’s steadily approaching $1 billion in Bitcoin payments processed annually. According to the statement a marked increase in Bitcoin spending has been seen thus far this year. Let’s add that the business was created six years ago and since then the company has become the largest Bitcoin payment provider globally.
Bitcoin is heading lower after the price has failed to break its local resistance at $4340. Source: xStation5
Technically, the price of Bitcoin has rejected two pivotal resistance lines at $4400 and $4340 respectively. As a result, the price is heading south and could approach a lower limit of a channel. Even as sellers are able to break its nearest support, $4066 could be the last resort for them.
Let’s also pay attention to Crimea where government head of the IT Department was fired for mining Bitcoin using state-owned computers. He reportedly installed malicious software on the government’s server and programmed over a dozen computers to do so.