Further gains in Wednesday’s talks come with a stream of mixed reactions to PayPal’s decision to support four cryptomites in 2021.
Bitcoin rises to $12,900 as PayPal proves cryptomeda ready for allMERKETS
Bitcoin (BTC) reached a high of US$12,865 during Oct. 21 negotiations, with news that PayPal would support cryptomeda while continuing to boost markets.
It is official: Bitcoin reaches an historic high in Brazil and is traded at R$70,000
Overview of the daily market for cryptomorphs. Source: Coin360
BTC price nears 2019 highs
Data from Cointelegraph Markets, Coin360 and TradingView confirmed Bitcoin’s best day in over a year, with 24 hour earnings reaching 7%.
PayPal will offer payments in Cryptomoedas from 2021
At the time of writing this article, hours after rising to US$12,400, the BTC/USD crossed the US$12,500 to see resistance just under US$13,000.
As reported by the Cointelegraph, PayPal plans to support Bitcoin and three altcoins – Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) from next year.
Reactions continue to surface and are mixed, with Bitcoin Billionaire scam some analysts criticizing the company for not giving potential investors the freedoms associated with standard cryptomime portfolios.
PayPal aims to provide de facto cryptomime custody services, but will place restrictions on how funds can enter and exit its products.
„So all this is a big hamburger of nothing from PayPal, just entries in a central PayPal database, nothing to do with Bitcoin,“ PlanB data analyst said.
However, the impact on market sentiment was immediately apparent after Reuters reported, Litecoin leading the altcoins‘ earnings with an advance of 11.1% to $52.30.