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German Luxury Brand Philipp Plein Starts Accepting Bitcoin, Dogecoin, Ethereum and Other Cryptocurrencies

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Scandalous German fashion designer Philipp Plein claims that he personally holds crypto

German luxury fashion house Philipp Plein, which is known for its flamboyant and garish style, has begun accepting a slew of digital assets in an apparent attempt to lure in the crypto nouveau riche following a recent bull run.

Those who want to splurge their crypto holdings on $6,500 sneakers now have an excellent opportunity to do so. Bitcoin, Ethereum, Dogecoin, Litecoin and Tether are among the supported cryptocurrencies.

It partnered with crypto payments company Coinfy, which was recently acquired by crypto broker Voyager Digital for $84 million.

Buyers will be required to provide their know-your-customer (KYC) information if their orders exceed a total of 10,000 euros.

The “king of bling” turns to crypto

Philipp Plein, the controversial designer behind one of the biggest fashion brands, recently took to Instagram to share the news with his 2.2 million followers and crown himself the “crypto king.”

Not exactly known for his humility, Plein emerged as the anti-hero of the fashion world with his in-your-face attitude and extravagant antics that tend to match his outfits.

Despite attracting plenty of rebuke for his rude behavior and tacky outfits, his polarizing fashion business ended up being a resounding success. The extensive list of celebrities who have worked with Plein includes Paris Hilton, Floyd Mayweather, Naomi Campbell and others.

The “king of bling” now claims that he is a cryptocurrency investor himself and, of course, he believes that crypto is the future.

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While Philipp Plein is the first major luxury brand to accept cryptocurrencies, its much bigger competitor has already dipped its toes into the industry.

In May, Italian fashion behemoth Gucci started selling non-fungible tokens (NFTs) based on its spring collection.

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Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today?

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  • Bitcoin price analysis is bullish.
  • BTC/USD set a new all-time high at $67,000 yesterday.
  • Slight retracement to retest $65,000 as support overnight.

Bitcoin price analysis is bullish today as a higher low has been set after a retest of $65,000 as support. Therefore, we expect BTC/USD to continue higher over the next 24 hours.

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded with strong bullish momentum over the last 24 hours. Bitcoin gained 3.12 percent, while Ethereum gained 12.35 percent. Meanwhile, Solana (SOL) continues to dominate the market, with a gain of 20 percent.

Bitcoin price movement in the last 24 hours: Bitcoin sets new all-time high at $67,000

BTC/USD traded in a range of $63,807.96 – $66,930.39, indicating substantial volatility over the last 24 hours. Trading volume has increased by 34.33 percent and totals $49.2 billion, while the total market cap trades around $1.24 trillion, resulting in the market dominance of 46.29 percent.

BTC/USD 4-hour chart: BTC to reach $68,000 today?

On the 4-hour chart, we can see Bitcoin price slightly retracing overnight as bulls prepare for another push higher today.

Bitcoin Price Analysis: BTC breaks above $65,000 all-time high, further upside to follow today?
BTC/USD 4-hour chart. Source: TradingView

Bitcoin price action has seen steady growth so far in October. After a several-week consolidation above $41,000 at the end of September, a strong push higher was seen on the 1st of October.

Since then, BTC/USD has seen steady growth with several higher highs and lows set. From the previous major swing low of $41,000 to the current swing high of $67,000, BTC has gained around 63 percent.

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Yesterday, the previous all-time high of $65.000 was broken clearly, further indicating strength for the momentum. Overnight a slight retracement back to the $65,000 mark was seen as bears looked to retest it as support, likely before further upside is seen today.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bullish as a slightly higher low has been set after a retest of $65,000 previous resistance as support. Therefore, we expect BTC/USD to continue higher over the next 24 hours.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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PayPal co-founder suggests he’s underinvested in Bitcoin while it records new ATH

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Bitcoin [BTC] did it once again. The asset broke its own record and caught the attention of the entire globe. Amidst this, PayPal’s co-founder, Peter Thiel expressed his angst over being “underinvested” in the world’s largest cryptocurrency.

The crypto industry as a whole garnered immense popularity over the last couple of years. From being closely regarded as an instrument that carries out illicit activities, to being adopted by governments across the globe, Bitcoin has certainly come a long way. Now, with a market cap of $1.2 trillion, Bitcoin stands as one of the most prominent currencies in the world.

Earlier today, BTC pushed past its previous all-time high of $64,899 and managed to hit a new high of $66,930.39. While BTC HODLers rejoiced this surge, an array of people were rather disappointed that they hadn’t poured in their money into the king coin. One of them was PayPal’s co-founder Peter Thiel.

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PayPal’s co-founder talks crypto

During a recent interview, PayPal’s Thiel revealed why he felt underinvested in the asset. He added,

“You’re supposed to just buy Bitcoin. I feel like I’ve been underinvested in it.”

The latest move of Bitcoin was lauded by the entire market. Speaking about the effects of BTC’s ongoing rally, the PayPal co-founder suggested that “we are at a complete bankruptcy moment for the central banks.”

An array of people took to Twitter and made their own predictions about Bitcoin. While some suggested that BTC was slated to endure a major fall, a few others noted that the coin could be aiming for $70K. Tesla’s Elon Musk had a rather bizarre prediction for the coin.

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The Tesla CEO’s latest tweet read,

Bitcoin’s rally certainly paved the way for several altcoins hitting new highs. Ethereum PETH], the second-largest cryptocurrency followed the footsteps of BTC and managed to hit an all-time high of $4,366.

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PayPal has played a major role in the crypto-verse in the last year. From opening doors to crypto and constantly remaining bullish about it, has pushed several assets to a new level.

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This Catalyst Could Trigger Long-Term Bitcoin Rally

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Bitcoin is surrounded by all kinds of optimistic predictions these days especially since the king coin managed to smash through all-time highs the other day.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $65,933.90.

This trigger could boost Bitcoin

Popular analyst Benjamin Cowen just said that one overlooked catalyst could ignite a big long-term rally for Bitcoin (BTC).

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During a new strategy session, the analyst analyzes the dollar index (DXY), which compares the US dollar against a basket of other major fiat currencies.

As the online publication the Daily Hodl highlighted, a weaker dollar can often imply higher prices in many assets.

He also said that one thing that could put extra bullish energy behind Bitcoin is the DXY beginning a macro trend downward.

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Cowen explained that the DXY is potentially on the edge of a bearish trend as it gets rejected from its 100-week simple moving average (SMA).

“Ideally speaking, in order to really be the best conditions for Bitcoin, we’d like to see this keep coming on down. This would be the best condition for Bitcoin and here’s the crazy thing when you talk about the US dollar currency index… Look at the actual macro range.”

He said that despite a rising DXY during the majority of Bitcoin’s lifetime, the king has still managed to maintain a long-term bullish structure.

The analyst is also analyzing what could happen if the DXY eventually entered a more considerable downtrend.

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“The dollar has more or less moved up during that time. It’s moved up, but there were a couple of key times when the dollar was moving down and that corresponded to Bitcoin bull markets.”

He continued and said the following:

“Imagine what Bitcoin could do if the dollar ended up coming back down… I think that would be incredibly bullish for Bitcoin.”

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