After new confirmed, BTC is pumping so hard. Now, BTC is almost 12800$/BTC. How do you think about this price increase? Is it uptrend?
Probably it is. Since PayPal is a huge network, it could also be influencial to other networks and also people to trust cryptocurrencies. This may then build a rapport with this thing called
trust but that does not guarantee things. There's still no assurance that mass adaptation would occur but let's just hope that next year will be something positive for this market.
the news printed in severae major newspapers, the price of BTC instantly skyrocketed to $ 12,700. Not only bitcoin, but some of the top altcoins have also skyrocketed
As what I have read from the article, the implementation would be next year but it did already make an impact because that is quite something unexpected. PayPal is widely being used across countries while Bitcoin still is working with the adaptation.
Quite an instant effect on the bitcoin market after the announcement from PayPal that they will offer cryptocurrency support to customers.
Since PayPal has a big market around the world which could boost the adoption of cryptocurrencies among customers and online merchants, hence daily trader and institutional investors take advantage by pushing the price to gain profits. Now, bitcoin price corrected after reaching $13,100 back to $12,800 as expected when the RSI rise above 70% indicates overbought asset.