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Bitcoin.com Accelerates Cryptocurrency Adoption With Racer Endorsement

Luke Vanna and the Bitcoin.com car are competing for top honors in the Australian Toyota 86 Racing Series. Sports partnerships like this can introduce cryptocurrency to new audiences as well as attract more businesses to join the ranks of the many merchants already accepting bitcoin cash across the country.

Also Read: Bitcoin.com to Launch $200 Million BCH Ecosystem Investment Fund

Bitcoin.com in Australian Toyota 86 Racing Series

This weekend, Luke Vanna will be competing in a car exclusively branded with Bitcoin.com’s logo and colors in the final round of the Australian Toyota 86 Racing Series at Newport. The Australian racer currently sits fifth in the championship rankings, and could potentially move into the top three this weekend with 300 points up for grabs. He continually places high in Australian racing ranks, and maintains a steady social media following. These factors present him as a great ambassador for Bitcoin.com’s effort to advertise to new markets.

Over the course of 2019, Luke has been helping build the Bitcoin.com brand across Australia at various race events on the Gold Coast and in Melbourne. He has participated in on the ground promotions where he meets people at public events, and promotes Bitcoin.com through his 16,000+ Instagram fanbase. Additionally, the racer has recently secured the services of the Norwell motorplex to offer attendees the chance to win a prize of a day’s training session at the world class motorway, with Luke being the trainer for the session.

Bitcoin.com Accelerates Cryptocurrency Adoption With Racer Endorsement

“What a privilege it is to be partnered with a global brand like Bitcoin.com. I am looking forward to helping reach the brand across the millions of motorsport race fans here in Australia and throughout Asia,” said Luke Vanna.

The Australian racer has organized events where he interacts with racing fans and introduces them to the world of crypto. At these events, Luke helps fans install the Bitcoin.com Wallet app, and shows them how to add bitcoin cash and begin using it. He has also worked with Bitcoin.com marketing officials to promote BCH to the vendors at the track, encouraging them to accept the cryptocurrency as payment. He’s helped introduce the company to hundreds of thousands of television viewers who watched him during the races with his Bitcoin.com branded car.

Bitcoin Cash Is Skyrocketing in the Land Down Under

Australia is one of the top global hotspots in terms of bitcoin cash adoption. A recent report showed that the number of BCH Australian retail transactions throughout the months of September and October 2019 outpaced every other digital asset by a wide margin. One reason for that is the high concentration of businesses accepting bitcoin cash payments compared to most places around the world. Another cause for the successful BCH adoption rate is the strong and active local community, as evident by hosting what was probably the world’s biggest Bitcoin Cash conference yet in Townsville, North Queensland in September.

Bitcoin.com Accelerates Cryptocurrency Adoption With Racer Endorsement

“Bitcoin.com is excited to expand our marketing in Australia in this partnership with Luke Vanna. Seeing the interest among new customers we are looking to innovative means to reach them, and meeting them wherever they are,” explained Bitcoin.com CEO Stefan Rust. “Bitcoin cash adoption is skyrocketing in Australia, with 92% of all cryptocurrency retail transactions. Bitcoin.com is committed to expanding the vendor reach for bitcoin cash, and partnerships like this one with athletes and racers in non-traditional locations will only attract new merchants to join the existing 200 BCH accepting merchants across Australia, not to mention users looking to spend their BCH with those merchants seeing value in this trustworthy, reputable payment source.”

What do do you think about Bitcoin.com’s endorsement of an Australian racing car driver? Share your thoughts in the comments section below.


Images courtesy of Rhys Vandersyde – Insyde Media.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.

Avi Mizrahi , 2019-11-22 19:40:30 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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