Bitcoin Updates Today: Gemini Introduces Bitcoin Card: Incentivizing Users to Connect Cryptocurrency with Everyday Purchases
- Gemini launches Bitcoin credit card with referral rewards and cashback to bridge crypto and traditional finance. - Market analysis shows mid-cycle holders driving Bitcoin's 12% selloff below $90,000 amid oversold futures conditions. - Crypto cards differ from traditional offerings by enabling direct Bitcoin spending without fiat conversion, addressing user accessibility challenges. - Experts like Saylor and Winklevoss highlight Bitcoin's reduced volatility and potential for recovery, positioning crypto a
Gemini, a prominent name in the cryptocurrency sector, has revealed its new
The debut of the Bitcoin credit card comes at a time when the crypto market is both unstable and resilient. Even after a recent 12% drop that sent Bitcoin below $90,000, market analysts remain hopeful.
Gemini’s card aims to take advantage of this market turbulence by providing users with an easy way to use crypto for purchases while earning incentives. Its referral program, similar to BitMart’s two-level system, encourages users to bring in new members, potentially speeding up adoption through network effects. Cashback rewards, linked to spending, are intended to make crypto payments as attractive as those from traditional cards. This mirrors BitMart’s strategy, which
Key industry figures are also sharing their perspectives on Bitcoin’s outlook. Michael Saylor, MicroStrategy’s CEO, pointed out that Bitcoin’s volatility has decreased, dropping from 80% in 2020 to 50% now. He described Bitcoin as “more robust than ever,” and noted its ability to withstand significant downturns
The launch of this card also signals a broader evolution in fintech. Traditional banks are also innovating, as shown by
Technical signals indicate that Bitcoin may remain in a range between $88,000 and $93,000 until a more decisive event occurs
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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