Bitcoin falls below $37,000 after Amazon’s denial; Ether, Litecoin tumble

Bitcoin fell below $37,000 after briefly surpassing $40,000 following Amazon.com’s denial that its job posting for a digital currency executive meant that it will accept the token for payments this year. It later recovered to over $38,000.

Earlier Monday, the job posting from the retail giant seeking an executive to develop the company’s “digital currency and blockchain strategy” had stirred questions among analysts over whether the move could eventually lead to Amazon accepting Bitcoin as a method of payment. Shortly before 4.00 pm in New York, an Amazon spokesperson’s denial that the company will accept the token for payments this year caused its price to plunge to $37,598. Rival coins including Ether and Litecoin also tumbled.