Following PayPal information, Venmo allows payment of its services in BTC, ETH and a few other tokens, the price of BTC has increased sharply, sometimes surpassing $ 13,000 and is still holding at $ 12900. But why is the market reacting so positively? BTC can reach $ 20000 after PayPal, Venmo accept payments in BTC, ETH?
For sure, btc is going to reach over 20k usd in midterm. It is something expected. And it is also good news that paypal is accepting bitcoin as a payment method. So bitcoin is going to be more popular now.
Obviously, the price will go up for the long term but for the short term the dump is expected due to the speculative reasons. The market makers will not look at the newbies who blindly jump to the bandwagon, the HYPE has to slow down. After eliminating weak hands, the BTC price will climb to $20000 shortly.