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Leading European Tire Retreader Vaculug To Accept Crypto Payments

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Leading European Tire Retreader Vaculug To Accept Crypto Payments

Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now accept cryptocurrencies for its products and services. Its management says the business must move with the times and offer customers more options than pounds and pence.

Vaculug to Take Major Coins, Offer Contracts in Cryptocurrency

U.K.-based tire retreading firm Vaculug has announced it will accept two leading cryptocurrencies, bitcoin (BTC) and ethereum (ETH) as a means of payment for tires and related services. The company claims it’s the first in the industry to do that.

In a press release, Vaculug also revealed it intends to sign fixed price contracts in ‘crypto per kilometer’ and ‘crypto per vehicle’ formats, if customers would like to fix or link them to the prices of the two supported cryptocurrencies.

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Blockchain is not the future but the now, says Vaculug’s IT manager Jason Humphries. “We believe that all companies will have to accept cryptocurrencies in the near future and we are proud to be the first retreader to do so,” he commented.

Humphries thinks the company, which he describes as customer-centric, must move with the times and offer clients “more options than just pounds and pence.” He also insists that crypto payments will lower transaction costs for both sides while providing more value to the buyer.

“We are proud to have partnered with Vaculug to develop the modules required for their industry leading VMS management system to be able to receive secure payments through the blockchain,” said Sam Dunross, the CEO of Dunross and Chan Ltd. which will process the crypto transactions. He added that its platform has been developed with cybersecurity firms from Israel to ensure it’s secure.

Despite the latest crypto market downturn, the number of businesses introducing bitcoin payments has continued to grow. For example, Swiss luxury watchmaker TAG Heuer announced earlier this year that it accepts a dozen coins in the U.S. through an integration with Bitpay. And a survey conducted by financial services firm Deloitte and payment processor Paypal showed that 85% of merchants consider enabling this payment method a high priority.

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Bitcoin, BTC, Crypto, crypto payments, Cryptocurrencies, Cryptocurrency, Cryptocurrency Payments, ETH, ether, Ethereum, Europe, Payments, retreader, tire, tire retreader, tires, uk, Vaculug

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Do you expect increased adoption of crypto payments after this month’s relatively positive developments in the markets of major coins like bitcoin and ether? Tell us in the comments section.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, celio messias silva

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

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Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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Bitcoin briefly trades above $20k as traders ape into futures

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Bitcoin briefly trades above $20k as traders ape into futures

Bitcoin briefly trades above $20k as traders ape into futures Oluwapelumi Adejumo · 5 hours ago · 2 min read

Macroeconomic concerns like Credit Suisse’s possible insolvency and the further escalation of the crisis in Ukraine also appear not to be affecting Bitcoin’s performance presently.

2 min read

Updated: October 5, 2022 at 5:16 pm

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Cover art/illustration via CryptoSlate

Bitcoin (BTC) briefly bounced above the $20,000 mark earlier today for the first time since Sept. 28 after gaining 4.6% in the past week. However, the euphoria was shortlived as it was rejected around the $20,400 level, dropping to $19,991 as of press time.

Bitcoin/USD Chart (Source: Tradingview.com)

The price-performance is coming at a time when the US dollar index reached a 20-year high of 114.78 before declining to 111 today. The Fed’s hawkish policy has negatively affected Bitcoin and stocks but has helped strengthen the dollar.

The recent drop has helped the crypto and stocks market briefly rebound. Nasdaq, S&P 500, and Dow gained a few points to trade up for the first time in a while.

Macroeconomic concerns like Credit Suisse’s possible insolvency and the further escalation of the crisis in Ukraine also appear not to be affecting Bitcoin’s performance presently.

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Traders flock futures

Glassnode data, as analyzed by CryptoSlate, showed that most traders were apeing into BTC futures trading, which is currently at an all-time high.

Bitcoin Open Interest Dominance (Source: Glassnode)

Traders are taking on leverage using USD/stablecoins in futures open contracts and non-expiring futures contracts with very little spot activity trading occurring.

Traders are using stablecoins as leverage to pump BTC price, which is not sustainable considering there is little spot BTC trading. It also means that there is the possibility of BTC price falling once investors begin to take profits.

Meanwhile, with traders using stablecoins as the underlying asset, BTC will likely see less volatility. It should be added that there is a potential for a liquidation cascade on either short or long positions as open interest keeps building.

Should traders be bullish?

Popular crypto trader il Capo Of Crypto told his followers not to be “too bullish” if the price of Bitcoin get to the $20,500-$21,000 level because it is a sell zone.

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20500-21000 is a sell zone. If price gets there, which should, don’t be too bullish.

— il Capo Of Crypto (@CryptoCapo_) October 4, 2022

Meanwhile, more people are buying the asset despite BTC’s performance and volatility. IntoTheBlock data showed that the BTC  holders reached 42 million on Sept. 27, increasing by 4.5 million since last year.

The number of #Bitcoin holders has been growing in the bear market 📈

Over 42M addresses are currently holding $BTC, 4.5M more than a year ago pic.twitter.com/BEx4HjVCeW

— IntoTheBlock (@intotheblock) September 27, 2022

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Analysis

Bitcoin, Ethereum Technical Analysis: BTC Climbs To 2-Week High

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Bitcoin, Ethereum Technical Analysis: BTC Climbs To 2-Week High

Bitcoin continued to trade above $20,000 on Wednesday, as the token remained near a two-week high. Bullish momentum in cryptocurrency markets has been higher this week, with prices surging after a recent downward spell. Ethereum, on the other hand, was largely unchanged in today’s session.

Bitcoin

Bitcoin (BTC) was once again trading above $20,000, as the token continued to trade near a two-week high.

BTC/USD surged to a peak of $20,479 late in Tuesday’s session, which was its highest point since September 13.

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On Wednesday, prices remained near this level, however slipped marginally after failing to extend a breakout of a key resistance point.

BTC/USD – Daily Chart

The token slipped below this ceiling of $20,350 earlier today, and as of writing, is trading at $20,024.63, which remains higher than yesterday’s low of $19,917.91.

As can be seen from the chart, the 14-day relative strength index (RSI) has also declined today, with the indicator now tracking at 52.45.

This mark is marginally under a support level of 53.00, and should the reading continue to depreciate, we will likely see BTC back below $20,000.

Ethereum

Ethereum (ETH) was mostly consolidating on Wednesday, as the token fell back towards a support point of its own.

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Following a high of $1,364.97 during yesterday’s session, ETH/USD dropped to an intraday low of $1,335.89 earlier in the day.

As a result of this slippage, the world’s second largest cryptocurrency moved back towards its floor of $1,330, a level which it broke out of less than 24 hours ago.

ETH/USD – Daily Chart

Looking at the chart, the decline appears to have come once the RSI failed to move beyond yesterday’s resistance of 44.90.

Currently price strength is tracking at 43.67, and seems to be heading for a floor close to the 42.00 level.

Should it arrive at its destination, then there is a strong likelihood that ethereum will be under $1,300.

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Do you anticipate ethereum falling below $1,300 this week? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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