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AMC Entertainment Holdings Inc CEO Adam Aron said that by the end of 2021, AMC-owned movie theaters will have IT systems in place to accept Bitcoin as payment, CNBC reported. Shares of AMC rose more than 4% in extended trading on Monday following a better-than-feared earnings report. The company announced a narrower-than-expected loss during the second quarter, along with revenue that topped analysts’ estimates.
The Bitcoin market has seen another strong boom, with price rallying from lows of $42,778 up to a high of $46,712. The market briefly traded above the $45,000 key support line. As a well observed technical indicator, the market’s response to a rejection or breach of $50,000 is likely to be an important signal over the coming weeks. The recovery is almost parabolic and the golden cross also shows a clear bullish sentiment in the short term. However, the crypto market is still a very volatile and new arena. A clear break above the $47,200 resistance zone might cause another increase. If bitcoin fails to break above the $47,200 resistance level, it could start a downside correction. An initial support on the downside is near the $45,000 level.