The cryptocurrency market continues to garner interest, especially from traditional companies.

NCR to acquire LibertyX

LibertyX, one of the leading Bitcoin ATM operators in the world, is set to be acquired by NCR, a Fortune 500 company. NCR announced yesterday that it had signed an agreement to acquire LibertyX.

In a blog post yesterday, NCR, an enterprise software company, stated that the agreement is at $39 per share. The blog post said the two companies “have entered into a definitive agreement under which NCR will acquire all outstanding shares of Cardtronics for $39.00 per share in an all-cash transaction with an enterprise value of approximately $2.5 billion, including debt.”

The deal is expected to be concluded later this year. However, it is still subject to customary closing conditions, including regulatory approvals. LibertyX co-founder and CEO Chris Yim are excited with this latest development, and he stated that this is the first acquisition by any company, public or private, of a bitcoin ATM operator.

NCR looking to establish a presence in the cryptocurrency space

The acquisition of LibertyX is expected to expand NCR’s presence in the crypto space. NCR’s chief technology officer Tim Vanderham noted that LibertyX’s acquisition is designed to help the company’s customers provide cryptocurrency solutions, including the ability to purchase and sell cryptos, process cross-border remittances and accept cryptocurrency payments via digital and physical channels.

LibertyX operates more than 10,000 Bitcoin ATMs across the United States. It also operates kiosks and point-of-sale systems.

Calls for a doubled-up Bitcoin price rise as the cryptocurrency paints ten green candles in a row.

While Bitcoin’s (BTC) price has slipped by more than 8.2% after rising to $42,230, the 43.5% rally included 10 consecutive days of gains. But despite BTC currently trading at around $39,700 as of Aug. 2, some analysts anticipate that it can rise by another 100%.

Nunya Bizniz, an independent market analyst, posted the bullish setup on Sunday, noting that each of the cryptocurrency’s previous 10-day bull runs has ended up doubling its prices at a later stage.

Therefore, if the history repeats or rhymes, Bitcoin price can go up by more than 100% in the next 30-60 days.

Bizniz noted that the next Bitcoin peak could form on Sep. 21, 2021, citing the cryptocurrency’s performances before and after its previous two halving events. The halving is a pre-programmed phenomenon written into Bitcoin’s source code that automatically reduces its new supply rate by half every four years.

After the first halving in 2013, it took Bitcoin prices approximately 326 days to establish a new record high. Meanwhile, following the next halving in 2016, Bitcoin rose to a new peak 526 days later. That shifts the date of Bitcoin’s cycle peak to Sep. 21, 2021, coinciding with the 10-day bullish fractal mentioned above and based on its previous halving in May 2020.

Bitcoin could hit six figures in Q4

Meanwhile, Seeking Alpha financial markets contributor, Ariel Santos-Alborna noted that the current Bitcoin cycle is more similar to 2013 than 2016. Back then, the BTC/USD exchange rate topped out at $255 in April, bottomed in July at $66, and then rose to a peak of $1,150 in December.

Similarly, the pair reached almost $65,000 in April, later plunged to around $29,000 in July, and, as Santos-Alborna believed, was heading for a new peak in the next 2021 fiscal quarter.But the analyst warned traders against setting up their upside targets based on previous price rallies. For instance, a run-up from $66 to $1,150 in 2013 does not mean Bitcoin would rise from $29,000 to, say, $256,000 in 2021.

“Both tops occurred in November and December, respectively, which could insinuate that the trigger for bear markets has more to do with taxes,” explained Santos-Alborna, adding that $88,000-$150,000 is a “more realistic” upside target for Bitcoin in 2021.

The statements come at a time when regulators and governments have increased their scrutiny of the cryptocurrency industry. That includes a recent push by U.S. lawmakers to impose more taxes on the profits made by cryptocurrency investors. 

LibertyX currently services 20,000 retail stores in the U.S. with 9,500 crypto ATMs.

Enterprise technology provider NCR Corporation has announced an agreement to buy LibertyX, the company that launched one of the first retail Bitcoin ATMs.

In a Monday announcement, NCR said it expected to purchase LibertyX later this year depending on regulatory licensing consents and approvals. The firm said it planned to offer LibertyX’s capabilities as part of its solutions for banks, retailers and restaurants, implying NCR clients could see crypto withdrawals, purchasing and payment features after the deal is finalized.

“Our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” said NCR chief technology officer Tim Vanderham.

Li LibertyX has allowed users to make purchases with crypto at a variety of retailers in the United States using its mobile app or through its network of Bitcoin (BTC) ATMs. According to the firm, it currently services 20,000 retail stores in the United States with 9,500 crypto ATMs.

According to data from CoinATMRadar, there are more than 24,481 crypto ATMs in the world at the time of publication, with the market experiencing exponential growth in 2021. Bitcoin Depot, one of the largest holders of the Bitcoin ATM network, recently announced a partnership with convenience store Circle K, resulting in the installation of more than 700 Bitcoin ATMs in the U.S. and Canada.