it was only november but the revelation of paypal are just last month . you call that long enough ? long supposed to be a year or over than than but payal is different . when we say paypal joins crypto , that wasnt just a hype that can die for some time but the effect is stapled .
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PayPal is no doubt has a large market across the US, since they allow users to buy and sell cryptocurrency on the platform, this had the predictable effect of instilling a lot of bullish sentiment among market participants, the result was an increase in the price of bitcoin from $11K to $13K and currently above $15K. Furthermore, it's not over yet, bitcoin should rise even higher when Paypal users will be able to shop at the 26 million merchants on its network using cryptocurrency in 2021.
Moreover, PayPal is exploring acquisitions of cryptocurrency companies. Nevertheless, it's not only PayPal which greatly affect the market, but the adoption from institutional investors that have been revealed purchasing bitcoin every quarter of 2020, not only in trust form but many investors accumulating physical bitcoin as well.
There is no official news that PayPal will let users use their bitcoin to shop over its system. FOMO is being created by a nonsense adoption from PayPal. I do like PayPal but I do not like the way people think that PayPal will treat bitcoin appropriately. The company does not let you send or receive bitcoin within its network or even outside its network. You can not keep your private key. The only thing you can do with Paypal-Bitcoin is to hold and wait. I just hope that they will soon make a clear statement about this issue. If they ameliorate in the current system such as let people receive bitcoin outside the network, I can ensure that it will create a big move in the price of bitcoin
Institutional investors certainly make a lot of changes in the price of bitcoin. By purchasing bitcoin occasionally, they have been accumulated bitcoin over time and this means that they have put their fate on bitcoin. I believe that these firms are the main influence to the current bull run