Bitcoin

Bitcoin leaps to highest since July 2019 after PayPal opens service to cryptocurrencies | Currency News | Financial and Business News

Reuters Bitcoin spiked as much as 8% higher on Wednesday after PayPal revealed it will soon allow users to buy, sell, and hold the popular cryptocurrency. The leap pushed bitcoin to an intraday peak of $12,817.17, its highest level since July 2019. PayPal’s Wednesday announcement marks the latest move by a financial-services giant to accept cryptocurrencies. Billionaire investor and bitcoin bull Michael Novogratz deemed PayPal’s move “the biggest news of the year in crypto.” Source link

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Bitcoin soars to $12.9K as PayPal proves crypto is ready for everyone

Bitcoin (BTC) hit highs of $12,865 during trading on Oct. 21 as news that PayPal would support cryptocurrency continued to boost markets. Cryptocurrency daily market overview. Source: Coin360 BTC price closes in on 2019 highs Data from Cointelegraph Markets, Coin360 and TradingView confirmed Bitcoin’s best day in over a year as 24-hour gains topped 7%. At press time, hours after rising to $12,400, BTC/USD crossed $12,500 to only see resistance at just below $13,000. BTC/USD 1-hour price chart…. Source link

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First Mover: PayPal Rushes In and Bitcoin Breaches $12K, While USDC Gains on Tether

Bitcoin blew past $12,000 to its highest price in two months, bringing into view the prospect of a fresh 2020 high. The largest cryptocurrency was changing hands Wednesday around $12,200, within striking distance of the year’s high around $12,500. And that was even before the news emerged that electronic consumer payments giant PayPal had been granted a conditional New York state license for a partnership to buy and sell cryptocurrencies.  “Coupled with a seemingly constant flow of… Source link

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Bitcoin breaks above $12.3K after PayPal says Venmo will become a BTC wallet

Bitcoin (BTC) gained almost 5% on Oct. 21 as bullish price action combined with fresh corporate adoption news to boost gains. Cryptocurrency market daily performance overview from Coin360 PayPal takes BTC price to $12,400 Data from Cointelegraph Markets and Coin360 showed a strong 24 hours for bulls on Wednesday, with BTC/USD topping out at $12,400. At press time, $12,300 formed the focal point, around an hour after Reuters reported that payment giant PayPal plans to support Bitcoin and other… Source link

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Bitcoin trader shares 7 reasons to be bullish on BTC beyond $12K

Bitcoin (BTC) abandoning correlation with traditional markets will be its “biggest story” if it continues, one popular analyst says. In a series of tweets on Oct. 21, Cole Garner highlighted Bitcoin’s market decoupling among bullish price factors. Garner: Decoupling will be crypto’s “biggest story” Garner retweeted a chart of Bitcoin, gold, the S&P 500 and Ether (ETH), which shows Bitcoin striking out on its own, delivering positive returns while other assets floundered. The chart Source link

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Bitcoin average transaction value increases 500% since July

The average value of Bitcoin (BTC) transactions has increased dramatically since July this year.  The average transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct 20 at $151,000 per transfer — representing an increase of more than 500%. Average Bitcoin transaction value. Source: BitInfoCharts The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost… Source link

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Bitcoin price rally to $12K is meaningless until bulls flip it to support

On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1.  Cryptocurrency daily market performance snapshot. Source: Coin360 The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038. BTC futures volume by exchange. Source: Digital Assets Data The rally to $12K was also… Source link

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Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery. The firm concluded that “CME Bitcoin futures contribute more to price discovery than its related spot markets.” And the researchers also suggested that: “CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price… Source link

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Breakout or fakeout? Top traders react to Bitcoin price rally to $12K

Within the past few hours, Bitcoin price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities. The general sentiment around Bitcoin (BTC) among analysts and traders remains positive, and multiple on-chain analysts say that Bitcoin has been behaving like a safe-haven asset…. Source link

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