The price of the leading cryptocurrency Bitcoin (BTC) entered a positive mood yesterday with news from PayPal. As you know, BTC has been alternating between 9 thousand 300 – 9 thousand 600 dollars bands recently. Currently, many analysts disagree about what direction is in BTC. However, as we reported last night, this recession ended with the news that PayPal will soon add Bitcoin to its structure.
According to Bitfinex data, after the news of PayPal, Bitcoin has reached up to 9,800 dollars. In this way, investors made a good profit during the day. According to CoinMarketCap data, the leading cryptocurrency was trading at $ 9,612 at the time of writing.
Crypto Michael, who made a statement on the subject, said the following:
“It feels like we were at the beginning of 2016 with this cycle.”
As it is known, BTC gained serious value in 2016. Between 2016 and 2017, it increased from $ 268 to $ 2,525 in a year following the Bitcoin halving event.
Speaking about the subject, local analyst Kripto Levent shared the news of PayPal and said, “If at least one of these kinds of news started to operate, we would not listen to 10,500 resistances today.”
With PayPal launching this project, we continue to hear good news for Bitcoin. With the addition of Bitcoin to the structure of the company, a positive step will be taken for the adaptation process of cryptocurrencies and especially Bitcoin.