PayPal has announced a significant update for its business account holders in the U.S., enabling them to buy, hold, and sell cryptocurrencies directly from their PayPal business accounts. This expansion aims to provide businesses with the same cryptocurrency capabilities that have been available to individual consumers since 2020. Business owners can now engage with digital currencies, enhancing their payment flexibility.
Additionally, PayPal business accounts can transfer supported cryptocurrencies to external blockchain addresses. However, this feature is currently not available in New York State.
This move is part of PayPal’s broader strategy to increase the utility of cryptocurrencies for its users. In previous years, PayPal introduced features such as the ability to buy, hold, and sell digital currencies for personal accounts, and even launched a U.S. dollar-backed stablecoin called PayPal USD (PYUSD). The company has been steadily expanding its crypto services, aiming to integrate digital assets into mainstream business operations and offer a wider array of financial tools to its users.
With this update, PayPal aims to meet the growing demand from business owners to incorporate cryptocurrency into their financial strategies, providing them with a seamless way to transact and manage digital assets.
This development marks a pivotal moment for PayPal’s role in the adoption of cryptocurrencies in everyday business activities, potentially paving the way for broader acceptance of digital currencies in commercial transactions.
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Three Main Reasons Why Bitcoin Price is Setting Up For a New Bull Rally | BTC News Today
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There is nothing like a good BTC halving to send the Bitcoin price to the moon again.
It has happened twice before and there is nothing indicating that history will not rhyme again.
With just 146 days to go now the FOMO should start to build soon, more so as we enter 2020.
As the block reward and inflation rate gets halved, the stock to flow doubles which is very important to investors in terms of relative scarcity and demand.
There is no end of charts and Bitcoin predictions out there for BTC price next year and most signal a larger run after the halving.
The new bull market could be around the corner, all Bitcoin (BTC) has to do is stay above $6,500 for the rest of this year to confirm it.
The week is drawing to a close with the Bitcoin price back above $7,000 which keeps it consolidating as the bulls and bears battle it out.
Long term trend lines are holding as is strong support but those are not the only reasons why the next bull run could be imminent.
In other BTC news today, Bitcoin is more likely to hit $10,000 in 2020, than dip to $5,000 because we’re in a consolidating bull market, shows the 2020 Bitcoin prediction of Mike McGlone, senior commodity strategist at Bloomberg Intelligence.
He tweeted on Crypto Twitter:
“Bitcoin in 2020: $10,000 Appears to Be More Likely Than $5,000 – Bitcoin should continue to advance in a consolidating bull market, in our view, with maturation of the first-born crypto in the next decade the primary distinction vs. the current one.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Bitcoin in 2020: $10,000 Appears to Be More Likely Than $5,000 —#Bitcoin should continue to advance in a consolidating bull market, in our view, with maturation of the first-born crypto in the next decade the primary distinction vs. the current one. pic.twitter.com/JxEAhArwTf
— Mike McGlone (@mikemcglone11) December 19, 2019
Yesterday we set a new volume record:
6,226 physically delivered Bakkt Bitcoin Futures contracts traded at ICE Futures U.S.
— Bakkt (@Bakkt) December 19, 2019
Three Main Reasons Why Bitcoin is Setting Up For a New Bull Rally
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MARKET STUDY: There’s a 77% Chance Bitcoin Trades At ,000 This Week | BTC Halving 2020 TODAY!
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With the next Bitcoin Halving now less than 7 hours away, these are very exciting times for the Crypto market.
Just 72 hours ago, BTC was trading at $10,100, but the cryptocurrency has since sustained a strong drop leading into the BTC halving.
This culminated on Saturday evening and Sunday morning, when the Bitcoin price crashed from the $10,000 highs to $8,100 within the span of a few hours.
It was a strong drop that liquidated over $200 million worth of long positions on BitMEX. Bitcoin’s stark reversal from the highs has convinced many of a bearish case.
One prominent trader that last year predicted BTC’s 2019 bottom of $6,400 said that he expects yet another move to $6,400.
Though a market study by Market Science, a cryptocurrency data analytics and market research firm, has confirmed that such a drop may not happen.
Their study indicates that there’s a 77% chance Bitcoin trades at $10,000 within the next week. Because the Chicago Mercantile Exchange’s Bitcoin futures don’t trade on weekends, there are normally “gaps” formed on the charts on every Monday morning.
The crypto market is 24/7, meaning that from the CME close on Friday to the open on Monday morning, there can be volatility that creates such gaps.
Just today, Bitcoin formed a record $1,265 gap, as a top trader noted. This was formed because the Friday price action on the exchange closed at ~$10,000 while the Monday price action opened at $8,785.
It’s a potentially bullish sign for the Bitcoin market, a market study has suggested. Published on December 30th of last year, crypto research firm Market Science found that 77% of CME gaps fill, meaning price touches each portion of the gap, “in the subsequent week” after the gap forms.
The gap isn’t the only sign indicating Bitcoin will undergo a bullish reversal, analysts suggest.
One popular trader shared the chart below, indicating that there are remarkable similarities between Bitcoin’s price action for all of 2020 and that of the past three days: both periods have a four-phase distribution top, a capitulation crash, then a rapid recovery from the lows.
The fractal playing out in full, the trader suggested, will result in BTC returning to $10,000 in the coming two to three days.
In other trending Bitcoin News today:
Why Satoshi Nakamoto Created the Bitcoin Halving
The dwindling Bitcoin mining rewards are a central piece of Satoshi’s method for allowing new BTC to enter the supply and ensuring that supply doesn’t outpace demand, all the while carefully controlling and mitigating the effects of inflation.
He addressed the topic in an exchange with the late bitcoin pioneer Hal Finney via email back in 2008.
“The fact that new coins are produced means the money supply increases by a planned amount, but this does not necessarily result in inflation. If the supply of money increases at the same rate that the number of people using it increases, prices remain stable.
If it does not increase as fast as demand, there will be deflation and early holders of money will see its value increase. Coins have to get initially distributed somehow, and a constant rate seems like the best formula.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
While price moves more sideways, this creates an environment where large leverage traders have an easier time strategically liquidating the bulk of traders from their positions. Like the cascading 4k->14k short squeeze of 2019. Equals more volatility.https://t.co/cBaDPzmZjQ
— Willy Woo (@woonomic) May 9, 2020
Market Study: There’s a 77% Chance Bitcoin Trades At $10,000 This Week
https://marketsscience.com/gap_study.html
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TOP CRYPTO ANALYST PINS DATE ON BITCOIN PRICE SURGE TO K!! BTC BULL MARKET EUPHORIA INCHES AWAY!!
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DataDash founder and crypto analyst Nicholas Merten says he believes Bitcoin (BTC) is now firmly in the early stages of a long-term bull cycle.
In a new video, Merten says that the Bitcoin correction, which started in mid-August, is now over as BTC has managed to stay above $10,000.
“I really think we’ve set in the relative bottom here, the higher low here, as we’ve been holding on this line of support and as we’ve clearly broken away from the line of resistance.”
With the local bottom in place, Merten now believes that Bitcoin will make its slow upward journey, during which the leading cryptocurrency will take its time to convert key resistances into supports.
According to Merten’s chart, Bitcoin is poised to print a new all-time high of at least $30,000 before the end of 2021.
“We’re going to break above our relative highs here from August. Come back up here. Retest $14,000. Get rejected. Make this range here support (roughly $12,000). This previous range of resistance, this is going to become new support.
We’re going to kick back up. Break above those June 2019 highs at $14,000. We’re going to come up here, test these slightly lower highs from the all-time high peak at around $17,000. Come down. Make $14,000 to $15,000 our new support.
Come up here towards around $20,000. Get rejected. Come down to $17,000 and then we’re going to slowly break above to $23,000, $22,000 and then start to make $20,000 support. Then after that, the sky’s the limit. The cycle has started.”
In other trending Bitcoin News today:
Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017
Bitcoin has undergone a strong rally over the past few months. From the March lows, the cryptocurrency has gained over 200%, rallying from $3,500 to $11,700 now.
While already impressive, the coin is about to form a pivotal buying signal that may suggest more upside is likely.
The signal in question last formed when the cryptocurrency was trading under $1,000 at the end of 2016, prior to the 2017 exponential rally.
According to data from Crypto Quant shared by a crypto-asset analyst, Bitcoin is about to form a long-term buying signal.
The signal is the Miners Reserve, which tracks the BTC reserves of entities tied to mining pools.
According to the chart, the indicator is poised to undergo a positive crossover, with the short-term moving average crossing below the long-term moving average.
This signal is important as it was last seen at the end of 2016, prior to Bitcoin’s 2,000% rally in 2017.
This signal also preceded two other macro rallies that brought BTC exponentially higher.
The same trader pointed to a swath of other on-chain trends showing that the long-term trend is favoring bulls.
Fundamental trends favor Bitcoin bulls, analysts say.
Macro investor Raoul Pal recently said in an interview with publication Stansberry Research that Bitcoin is likely to reach a price of $1 million in the coming five years.
He thinks that investment by institutional players will drive the cryptocurrency this far to the upside:
“Just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It’s an enormous wall of money — just the pipes aren’t there to allow people to do it yet, and that’s coming. But it’s on everybody’s radar, and there’s a lot of smart people working on it.”
Pal has said that he thinks Bitcoin may be the best investment in existence right now due to macro trends.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
OK, so @cryptoquant_com is doing a closed beta and I’m lucky enough to be able to test it.
Let’s make a Big thread right here to connect Onchain Analysis & Technical Analysis
Is $btc in a bull market or what ?
1/x
— Coiner-Yadox (@Yodaskk) October 17, 2020
Bitcoin to Soon Form Signal Last Seen Prior to 2,000% Rally in 2017
https://cointelegraph.com/news/bitcoin-price-nears-final-hurdle-at-12k-before-bull-market-euphoria
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