cryptocurrency

Lightning Network, New Payments systems, and crypto markets

Author: Trade Pro Skills

Friday, 22 April 2022 Number of words: 249 Study time: 2 Minutes Views: 496

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Pay for your purchases with Bitcoin & Shopify 

Market analyst – IFC Markets

Payment systems have always been part of cryptocurrencies. There are two reasons, the commissions that payment systems gain make the creation of the payment system one of the most exciting areas. And another reason is to get rid of the current banking system, which did not see any revolution or innovation for decades. Banks control our payments, and they are the ones who are making decisions for us on when and how to spend or transfer our money. 

One of the latest companies that recently entered this payments system world is Shopify. The Strike's partnership with Shopify, Blackhawk Network, and NCR brought this opportunity to pay with BTC. It will make this system much more mainstream while also decreasing the monopolization of the traditional payment system. 

And now the question again that we can ask. Should this mainstream increase the price or decrease it? It can be both of them. Probably in the short term, it will not help the bulls in the market because more people involved means more social wisdom and less colossal volatility. And in a long time, demand will increase with limited BTC supply, which is positive for the crypto market. 

Yesterday, Bitcoin had a short-lived bull-run before returning sharply under 40K, which seems like a more technical movement than any fundamental changes. As you can see in the below BTC H4 chart, 40,000 became a pivot point with 38,400 and 37,200 as the first and second support and 42,200 and 45,000 as the first and second resistance. 

Lightning Network, New Payments systems, and crypto markets

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