Week’s Highlights: Google Accepts Crypto, BTC & ETH Rise

Adoption is a key variant in the crypto growth story. The number of people in crypto has reached about 320 million in total, according to triple A.  With a fleet of brands accepting cryptocurrency payment options, the number will only go up. Most recent and important one to be added to the group is Google Inc. which has now started accepting crypto for its cloud services. Now that Google accepts crypto, its cloud service users will be able to pay for cloud computing services with cryptocurrencies, starting from 2023. 

According to Bitrate, the assets that could be accepted include Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Litecoin, USDCoin, Tether’s USDT, Shiba Inu, and DAI.

In other news, Bitcoin and Ether have started the week on a greener note. On Monday, Bitcoin topped to $19,610.8, higher than the last few days. Bitcoin had topped its performance last week at about $19,826 on 14th of October. This came as a welcome relief for those who are wishing for the top cryptocurrency to maintain $20,000 psychological levels. However, some are saying that the good bounce on Monday is related to a corresponding gain in equity markets.

On Monday, Craig Erlam, Senior Marketing Analyst at Oanda, commented, “The gains today mirror those in equity markets, with risk assets more broadly getting the week off to a good start.” 

Source: coinmarketcap.com, at 12:30 PM on 18th of October, 2022. 

Moreover, the fall in US Dollar Index values have recently shown a downward trend falling to about 111 on the 18th of October. FX Street  has reported that investors’ bias towards the riskier assets puts the dollar to test. It has also triggered a corrective move in the index while not much has changed in the macro situation.

Talking about Ether, the coin has maintained its momentum above $1,300.  While it fell into a steep low at $1,221 on the 13th of October, Ether has since recovered quickly and rose to a sharp high at $1,337 on the 14th of October. At the time of writing, it is trading at $1,323.2. 

Source: coinmarketcap.com, at 12:30 PM on 18th of October, 2022. 

Wrapping up coin performances last week, here is the heat map of performances. Among the top performers, Polygon’s MATIC recorded a ride of more than 5% over the last seven days. Top coins Ether and Bitcoin have maintained a greener chart while popular altcoins Solana, Avalanche, XRP and Dai have all been in the red zone. 

source: coin360.com, 12:40 PM, 18/10/2022


Please note that this is not trading advice. We recommend you to carry out your own research before making any trading decisions. This article is for informational purposes only.

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