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Bitcoin [BTC], Bitcoin Cash [BCH] accepted as payments by Corporate Traveller following tie-up with BitPay

Biraajmaan Tamuly

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Bitcoin [BTC] and Bitcoin Cash [BCH] accepted as payments by Corporate Traveller as company tie-up with BitPay
Source: Pixabay

The future of cryptocurrency had always been speculative and constantly clouded with doubts as crypto-assets were highly unregulated. The silver lining for the industry remains in terms of worldwide adoption, which has the potential to promote the use of virtual currencies.

According to reports, Corporate Traveller, the premier company for business traveling services based out of the UK, entered an alliance with BitPay, which is the largest global blockchain payment service.

The newly announced partnership would now allow Corporate Traveller to accept Bitcoin [BTC] and Bitcoin Cash [BCH] for travel bookings from its Small to Medium sized enterprises [SME] customers.

Corporate Traveller made the announcement on Twitter and stated,

Source: Twitter

According to the announcement, there would be no price deviation for the company as the users would send the payments via Bitcoin or Bitcoin Cash directly to Corporate Traveller’s bank account via Bitpay. BitPay would charge the users only 1% to approve the transaction, unlike the high cost levied by bank credit cards.

This new-formed partnership is monumental for the crypto community and further solidifies the convenient usage of cryptocurrencies.

Andy Hegley, the UK General Manager of Corporate Traveller, said,



“We identified an increasing demand from our clients for the option to pay in bitcoin for business travel bookings made by our travel consultants. We chose BitPay to manage our merchant processing because they make it easy and handle the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into our account.”

Sonny Singh, Chief Commercial Officer of Bitpay, had recently claimed that countries like Russia, China and India could play a major and significant role in the next Bitcoin Bull Run.

He believed that the crypto realms were pretty steady in places like the US and Europe, but for digital assets to grow and for price valuations to rise up, regulations had to undergo changes in places like Russia and India; where cryptocurrencies were being blatantly opposed.





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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

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XRP

Has XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?

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Hash XRP decoupled from Bitcoin? Is it due to immense pressure from manipulators?
Source: Unsplash

Opinion: Bitcoin, the first cryptocurrency, has had over ten years to grow. However, other altcoins did not have the liberty, due to which Bitcoin exerts its dominance over almost all altcoins in the ecosystem, be it Ethereum, XRP, or Cardano. The price of altcoins generally tends to rise if Bitcoin’s price surges rapidly. The same can be said about the downtrend as well, which is why altcoins are said to be coupled with Bitcoin.

However, the recent buzz on crypto-twitter is that XRP is on the verge of decoupling from Bitcoin. A Twitter user @XRPMOONSHINE tweeted:

“DO ME A FAVOR OPEN UP A BTC/USD CHART AND AN XRP/USD CHART. THEY HAVE DECOUPLED AND ARE MOVING DIFFERENTLY.”

In a very general sense, the comparison of the price change of XRP and BTC gives a crude understanding of whether the prices have actually decoupled or not. Hence, the daily chart attached below shows the price of BTC and XRP against the US Dollar and extends from August 2018 to April 2019. The price of XRP seems to be following a lag from the price of BTC and do not necessarily mean that it has decoupled.

However, there are timeframes where the price of XRP has moved completely unrelated to that of Bitcoin. For example, the meteoric rise of XRP from September 18 to 22 was far higher than the price pump of BTC over the similar timeframe; but the drop of XRP from November 18 to December 16 was exactly the same as that of BTC’s.

Furthermore, XRPMOONSHINE suggested that XRP price was being manipulated. He tweeted:

“It is being manipulated to keep it from rising. For example look at XRP/BTC pair. Keeping it under the down sloping resistance from .80 in September. Thats what I mean by Suppressed, Although im expecting a fairly large move to the upside before 4/24/19.”

The “idea” of the price of XRP being manipulated is not unpopular within the XRP ecosystem as Peter Brandt, a famed trader, suggested the same in one of his tweets.

Brandt tweeted:



Conclusion

XRP may have started to decouple from Bitcoin, but it surely hasn’t decoupled completely. The notion that XRP is being manipulated to keep its price below certain levels can also not be confirmed without proof.





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