The Financial Markets

Hours after news about PayPal allowing its users to buy Bitcoin broke out, the cryptocurrency has skyrocketed to a new 2020 high. Meanwhile, altcoins are getting crushed against BTC.

The new found bullish momentum is said to be omnipresent with Bitcoin’s price throughout the last few days. The cryptocurrency has increased by more than $2,000 since October 6th, and it shows no signs of slowing down.

Throughout the entire month of September, Bitcoin’s price was somewhat stagnant, with a few minor exceptions. This became a cause for increasing worries among cryptocurrency analysts and traders, many of whom were worried that the price would head lower and fill the (still) unfilled CME gap down at $9,600.

All of this changed on October 6th when BTC started its ascend. Since then, the price has increased by more than $2,000, with the momentum culminating today on some major news coming from PayPal.

The world’s largest online payment processor announced that it would enable its customers to buy, sell, and store Bitcoin and other cryptocurrencies as soon as the “coming weeks” for US-based accounts and the first half of 2021 for other countries.

Naturally, the market reacted in a positive way. Today, Bitcoin’s price has surged from a low of around $11,910 to a high of $13,016 on Binance Futures, before retracing to where it’s currently trading at $12,985. With this sudden move, Bitcoin broke the previous 2020 high marked on August 17th when the price reached almost $12,500.

The leading Cryptocurrency is speculated to hit the 15,000 USD price mark before the year runs out keeping traders anticipating and daring to holding a little longer.

Do we sell or hold 🤔?
Is it fair to say Cryptocurrency is here ti stay?

Lets know your thoughts in the comment section 👇

😀

From about 9400usd to 11400usd in 2 weeks, BTC surprisingly breaks resistance and surges up its highest.

After a longgggggg hold, some Bitcoin investors are finally smiling to their banks while others anticipate a higher rate of 15,000usd.

We continue to watch😉

Is this a good time to jump in and grab a piece of the pie? 🤔

💲A million dollar question 💲

Bitcoin on Track for Highest July Price Gain in 8 Years - CoinDesk Bitcoin appears on track to register its best July price performance for eight years and confirm a major bullish breakout in the process.