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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TOP TRADER PREDICTS BITCOIN WILL HIT $250K BY JULY!! KEY INDICATORS POINT TO A BTC ‘SUPERCYCLE’!!
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A prominent crypto trader and analyst says it is not yet too late for investors to jump into Bitcoin (BTC).
Based on Kaleo’s chart, Bitcoin is taking a page out of its 2017 bull market where it consolidated below $2,000 before surging to its previous all-time high of $20,000.
This time, the trader believes Bitcoin is setting the stage for a meteoric ascent that would catapult BTC to $250,000 by July 2021.
As for altcoins, the pseudonymous trader shares three alts that he says have the potential to spark major rallies.
Crypto Kaleo says fellow traders are underestimating Litecoin (LTC). He believes the coin often dubbed as digital silver is poised to follow its 2017 bull rally and generate gains of over 1,000% from its current price of $203.
“LTC 2017 fractal. If this plays out, there’s still time to accumulate, but you see why it’s worth it to slowly stack…
Now is the time to stack LTC. Litecoin has vertical moves, usually from points of max pain vs. BTC. When it finally goes off, it’ll move faster than you have time to FOMO into it. Buy a little each day now. Thank yourself later.”
Another coin on Kaleo’s radar is Chainlink (LINK).
The trader believes the decentralized oracle network will follow the footsteps of Solana (SOL), which more than doubled its value in a span of a few weeks.
“LINK SOL.”
The third coin on Kaleo’s list is Algorand (ALGO), a project that aims to develop a blockchain that’s scalable, secure, and decentralized.
He says the crypto asset is gearing up to pull off a 242% rally to $6.00 from its current price of $1.75.
“Remember the big picture. ALGO is only just getting warmed up.”
Kaleo is also invested in Stellar Lumens (XLM), Balancer (BAL), and Band Protocol (BAND).
In other trending Bitcoin News today:
Bitcoin ‘Supercycle’ May Emerge In 2021 As Fed Balance Sheet Hits New Record High
Bitcoin (BTC) is looking increasingly like it is in a “supercycle,” not just a bull cycle, statistician Willy Woo suggests.
In a Twitter exchange on Feb. 12, the popular analyst joined Dan Held, growth lead at U.S. exchange Kraken, calling the current BTC market a bull run like no other.
Held had previously explained his theory about the state of Bitcoin in 2021 — that price gains cannot be compared to past bull phases, and do not even match the end of 2017 when BTC/USD neared $20,000.
Instead, this year is looking like a bull run on a wholly different magnitude — a “supercycle” in the making for Bitcoin.
In his own observations, Woo confirmed that data pointed to retail investors returning to Bitcoin in January.
“Retail has arrived. The last 4 weeks. Welcome to the middle phase of the bull market. This one is like no other,” he wrote.
When Held suggested that the supercycle had arrived with them, he responded that 2021 would provide confirmation.
“Can answer that with more confidence in Q4. Right now it’s only fundamental narrative, need to see if the capital flows validate it,” he continued.
“The setup has me leaning towards it.”
In an update this week, Rafael Schultze-Kraft, CTO of on-chain analytics resource Glassnode, estimated that should Thermocap repeat its 2017 performance, BTC/USD could hit $110,000.
“Last bull market, $BTC was at ~$8,500 when Marketcap to Thermocap was at the current levels – and surged another 135% to the top in just a month. Things can go fast,” he tweeted.
“Yea this time’s different, but just in case: 135% from here is ~$110k.”
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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.
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#Fed balance sheet has hit a fresh ATH of $7.44tn last week, equivalent to 34.7% of US GDP. Fed’s balance sheet is smaller than #ECB’s, at 70.7% of GDP, and much smaller than those of SNB or BoJ where total assets are >100% of GDP. pic.twitter.com/bTQCsmTGYL
— Holger Zschaepitz (@Schuldensuehner) February 12, 2021
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ASSET GIANT FIDELITY VALIDATES BITCOIN MODEL THAT PREDICTS BTC PRICE RISE TO ASSET GIANT FIDELITY VALIDATES BITCOIN MODEL THAT PREDICTS BTC PRICE RISE TO $1,000,000!!,000,000!!
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The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.
A recent report from Fidelity Digital Assets analyzes the BTC stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.
Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that the BTC price will soar to $1 million by 2029.
Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets.
The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.
“Commodities with a stock that is difficult to double due to a low rate of production relative to existing supply have historically served as superior stores of value.
Such commodities are largely used for investment purposes, and occasionally industrial uses.
On the other hand, consumable commodities that are susceptible to large increases in supply, are less effective in storing value.
In the Bitcoin Standard, Saifedean Ammous adapted stock-to-flow to compare bitcoin to commodities used for investment and consumption and the use of the metric has since expanded and even given rise to models based on the ratio.
Gold, the most resilient store of value through the ages, has the highest stock-to-flow ratio, followed by Bitcoin (today) and silver.
Following the recent halving (May 2020), the gap between the gold and Bitcoin ratio compressed.
Bitcoin’s stock-to-flow will eclipse that of gold following the next halving (2024).”
Grayscale echoes Fidelity’s assessment that commodities with high S2F ratios are typically sought after by investors.
The investment giant looks at Bitcoin to illustrate the positive correlation between an asset’s price and its S2F ratio.
“Commodities with high stock-to-flow ratios such as Bitcoin, gold, and silver have historically been utilized as stores of value.”
However, Grayscale cautions that the S2F price model does not guarantee an increase in the asset’s value.
“While it’s true that price has followed this stock-to-flow model with high correlation, the relationship may be spurious and does not take into account the requisite demand for price appreciation.”
In other trending Bitcoin News today:
BLOOMBERG PREDICTS GOLD AT $3K, BITCOIN AT $20K IN CURRENT BULL RUN!
A bullish comment on gold by a top Bloomberg Intelligence analyst could leave Bitcoin in a similar upside spell.
“Central banks essentially printing money to spur inflation is a solid foundation for the benchmark store of value,” McGlone said.
“Gold bottomed at about $700 in 2008 and peaked near $1,900 in 2011. A similar-velocity 2.7x advance from this year’s low-close near $1,470 would approach $4,000 by 2023.”
The analyst said in its June update that the cryptocurrency could hit $20,000 by the end of this year, citing increasingly favorable fundamental and technical factors.
They included its maturity as an asset, followed by its rising futures open interest and more buy-and-hold strategy among institutional investors.
“Bitcoin ended 2019 at about $7,000, near the bottom of its range, favoring a shift toward the peak. Last year, the high was about $14,000, which would translate into almost double in 2020 if rotating within the recent band,” Mr. McGlone explained.
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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 Asymmetric ReturnLast 10 years (2011-2020):– 2 years negative return (2014, 2018)– 3 years [+25% -> +100%] return (2015, 2019, 2020)
– 5 years >100% return (of which 3 yrs >1000% return!) pic.twitter.com/WFatEzbG5Z
— PlanB (@100trillionUSD) August 26, 2020
The Fed, under the leadership of Jerome Powell, continues to be #Bitcoin‘s biggest booster. On Thursday, he will deliver a speech about how the Fed will begin targeting higher inflation. 🧙♂️🙏🚀https://t.co/MUXB2MRTp3
— Tyler Winklevoss (@tylerwinklevoss) August 25, 2020
Bloomberg Predicts Gold at $3K, Bitcoin at $20K in Current Bull Run
https://cointelegraph.com/news/tyler-winklevoss-says-us-fed-is-the-biggest-booster-of-bitcoin-price
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MAX KEISER SAYS SEVERE BITCOIN SHORTAGES CAN TRIGGER A GAP BETWEEN K AND 0K TO OVERTHROW FIAT!
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
Bitcoin pioneer Max Keiser, RT host of the Keiser Report went on an epic Twitter rant about BTC having enough interest right now to overthrow government, fiat currency and the central banking system.
“We have enough interest in Bitcoin now to overthrow fiat and central banks. We don’t need any new Bitcoiners. If you’re not aboard, there’s still time, but not much. Severe shortages are developing and we may see a gap between $20,000 and $200,000 before any liquidity again.”
“I spent ten years educating people about Bitcoin. Now it’s time to pull up the drawbridge ($20,000) and overthrow fiat money and central bankers and watch panic-buying by HNWI gap the price to $200,000.”
“Bitcoiners should avoid regulators. They are poison. Just focus on getting large funds and HNWI to panic-buy BTC to trigger a gap to $200,000, then we can overthrow government as well as fiat money and central bankers. (Yellen combining Treas. Dept. with Fed makes it easier).”
In other trending Bitcoin News today:
On-Chain Analyst Says Bitcoin Hodlers Are Only Getting Stronger
According to on-chain analyst Willy Woo, the price of Bitcoin (BTC) could achieve a “conservative” target of $200,000 in 2021. The prediction revolves around the fact that long-time investors seem more confident in the recent rally.
There are two key data points that suggest Bitcoin’s ongoing rally could explode higher. First, “HODLers,” or long-time BTC holders, aren’t moving their funds for longer than in previous rallies. Second, BTC held on exchanges continues to decrease, which reduces selling pressure.
The re-accumulation of Bitcoin has remained a consistently bullish trend throughout 2020. It has continuously decreased the selling pressure on BTC, allowing a more stable rally without major 30%-40% corrections as frequently seen in 2017.
Woo noted that he is bullish for 2021 because Bitcoin’s re-accumulation phase means the amount of BTC that could be sold is much lower compared to the previous bull cycle. He said:
“I’ve never been so bullish for 2021. This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.”
Atop the declining Bitcoin reserve on exchanges, Woo found that HODLers are “holding stronger.” In 2017, the amount of gain per the amount of capital invested in Bitcoin hovered at around $0.25. This figure increased to $0.35 in 2020, which means more investors expect event bigger profits in the future.
Based on the combination of the two optimistic on-chain trends, Woo said that Bitcoin could achieve a “conservative price” of $200,000 by the end of 2021. He explained:
“My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question. The current market on average paid $7456 for their coins. You all are geniuses.”
As reported in May, Bitcoin HODL wave data also supports the argument the HODLers from the 2017-2018 bull cycle aren’t selling at these relatively high prices, including high-net worth individuals or “whales.”
However, this data also suggests that some earlier HODLers from three to seven years ago are taking profit after a prolonged BTC rally, heightening the chances of a correction in the short term.
Willy Woo has been calling for an extended Bitcoin bull run since March 2020.
On Mar. 4, Woo told Max Keiser, the host of RT’s Keiser Report, that Bitcoin could hit $135,000 in the bull run. He said at the time:
“You go could 35 times the cumulative average of the price — and that’s actually picked every single top in the ten-year history of Bitcoin — right now that’s sitting above $50,000, but it keeps climbing the longer it runs for.”
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Trezor: ► http://trezor.cryptonewsalerts.net
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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:
We have enough interest in #Bitcoin now to overthrow fiat and central banks. We don’t need any new Bitcoiners. If you’re not aboard, there’s still time, but not much.
Severe shortages are developing and we may see a gap between $20,000 and $200,000 before any liquidity again.
— Max Keiser (@maxkeiser) December 5, 2020
#bitcoin and central bank balance sheets (money ‘printing’) have gone hand in hand last 10 years .. but now BTC is lagging behind .. about two orders of magnitude (100X). Room for growth? pic.twitter.com/zAXN93qlTJ
— PlanB (@100trillionUSD) December 6, 2020
Views on 2021 (THREAD):My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.
The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b
— Willy Woo (@woonomic) December 1, 2020
https://cointelegraph.com/news/3-key-metrics-to-watch-as-bitcoin-price-tries-to-top-20-000
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