This pump is not caused by Paypal or halving. Who TF takes care about paypal? We have 100000000 ways to buy crypto. Paypal is only another one. Pump is caused by panicked investors searching for good place to hide from inflation.
Though you have a very good point enumerated just above this quoted message of yours, but in contrary to this, the halving also had a big contribution in this bullrun.
Remember how Btc tends to pump and reach new heights just after a few months of Bitcoin halving. There was no excessive printing of money that time, thus people aren't looking for a place to hide due to the danger of inflation.
But then again, we are in a different situation than the last two halving and what you have pointed out as some reasons for the pump is combined by the halving hype.
All this excitement is mostly caused by the ongoing pandemic, which forced the Central banks of various countries to print even more unsecured money to help economic entities, because what kind of money security can we talk about when the state's economy is shrinking due to quarantine, and the money supply on the contrary continues to increase. Such a mass of money is looking for a way out, and it turns out that bitcoin is also perfectly suitable for this. And the halving that occurred and PayPal add their own contribution to the hype process.