Gwyneth Paltrow – one of the most influential people in modern culture, is bullish on Bitcoin. The Gwynnie Bee founder took to her blog this morning to lavish praise upon bitcoin and its potential for giving consumers more choice than ever before when it comes to spending their money,.
Gwyneth Paltrow is bullish on Bitcoin, but the top cryptocurrency in?.
Gwyneth Paltrow, an actress, has come out in favour of Bitcoin, stating that she wants people to “understand how simple it is.”
Paltrow quickly followed up with an announcement that she is partnering up with payment service Cash App to give away $500,000 in Bitcoin to her social media fans.
Paltrow is more recognized as a supporter of health and wellness than as a crypto evangelist, having been working with Abra Wallet since 2017 and more recently invested in Bitcoin mining business TeraWulf.
With that in mind, should we be worried that Paltrow seems to be interested in cryptocurrency?
Paltrow and Cash App have teamed together to give away Bitcoin.
Paltrow claimed she wants to democratize membership in the restrictive crypto realm in a tweet on Monday.
Following @cashapp and responding with a cash tag and hashtag for a chance to win, this message turned into her Cash App contest. Prizes of $20 and $100 will be awarded at random to the winners.
“Buying cryptocurrency has a reputation for being exclusive. @CashApp has made it simple to give Bitcoin in order to democratize who may participate. For the holidays, I’m giving away $500k in Bitcoin. To participate, follow @cashapp and include the hashtag #CashAppGifting in your $cashtag below.”
Paltrow advocated for more women in crypto in an interview with Elle, claiming that the field doesn’t have to be “macho.” Especially when women make the majority of financial decisions in their homes.
A-listers and cryptocurrency don’t always get along.
Bitcoin has been establishing a succession of lower highs since the December 4 sell-off, which saw $BTC fall 20% to $42,300 before rebounding to end the day at $49,200.
The $45,600 level provided strong support, but a series of false breakouts since the 4th have pushed market sentiment to severe panic.
Bitcoin is on the verge of breaking out of its downtrend after a 5% rise today, but with the rest of Tuesday still ahead, bears might win. Nonetheless, on the strength of this gain, market mood has improved for Tuesday, going from fear to greed.
BTCUSD on TradingView.com is a good source of information.
With uncertainty reigning supreme at the moment, the prospect of a return to the bear market is on everyone’s mind.
Many people are reminded of Katy Perry’s January 2018 Instagram post about “crypto claws.” This was followed by a 34-month bear market, during which Bitcoin reached a low of $3,700.
Instagram.com is the source of this image.
While logic implies that the bear market and Katy Perry’s crypto claws post are unrelated, a-listers and crypto remain an unattractive combo in present conditions.
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