Bitcoin is one of the most popular digital currencies in the world today, and it has risen over $13,000 which is 87% more than what it was in 2017. The coin has received good news as PayPal stated that the users of Bitcoin will now be able to pay using this digital currency.
As per JP Morgan, Bitcoin has several benefits that could be seen in the long-term and that this currency can be a competitor of gold. The demand for Bitcoin has been increasing rapidly in the market, and so is the currency’s price. One of the largest banks of the United States also suggested that Bitcoin might become the perfect alternative to gold. For more information visit bitcoin billionaire.
A few days ago, Bitcoin just touched the barrier of $14,000, and later it then went on to $10,500 a coin and today it is around $13,000 for a coin. The rise in the price of the currency is quite steep and it has seen a rise of 87% since last year. The total value in circulation is $243 billion and the coins are 18.5 million.
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To add to this was much another positive news article that was doing rounds about Bitcoin. One of them was about how big financial companies are going to hold a major part of their reserves in the form of Bitcoin. Yes and why not? When they can see such huge potential in Bitcoin it is good to invest their money in the same where they can expect it to grow.
Bitcoin’s price has hit $13,000 and it is known to be the highest price till now. The financial regulator of Britain announced that there is going to be a ban on the sale of any kind of cryptocurrency to investors. He stated that it was going to start from next January and it is because of the potential harm that the cryptocurrency can cause. On the other hand, the cryptocurrency has had a very positive response and the investors have started to gain confidence in the currency.
This news came only after PayPal announced its big move to associate with this cryptocurrency and offer its holding, buying, and selling on its platform. When the world’s largest and most renowned payment platform associated with crypto the news was going to be ground-breaking and so it was. It sent across a wave of positivity in the entire market and PayPal’s share and Bitcoin’s price rose to another level.
In addition, the ones who will be paid will not get it in the form of Bitcoin, rather they will get it after it gets converted into money. Soon after PayPal made this statement, the value of Bitcoin shot up around $800. However, the PayPal feature will be available in the USA only but the good news is many other stores are coming in support of the same.
There was a news article that said Big brands like Starbucks have opened their payment gateway for Bitcoin. Along with that, there are many other brands that will be following the same suit. Some 26000 stores across the USA have opened their doors for Bitcoin payment. This is a pretty big move and the kind which the market has been waiting for long.
This will help Bitcoin to be launched and introduced in the mainstream payments market which it had been waiting long. This will help garner the much due credibility, reliability and ease of use that has been lacking till now. All of this positive news only points to one thing and that is the price rise.
Now, in the last six months, Bitcoin price has risen to considerable high levels and the reason is this positive sentiment in the market. It is deriving more and more people into this trade. Now, going by this sentiment and reading the market understanding it could be said that the prices will only be rising in the future.
This positive sentiment has built a strong connection between the sports industry and the Crypto market too. Many renowned sports players, their teams have started accepting payments in the form of Crypto and when the Sports industry is vouching for the same we can understand the great potential this industry holds.
Let’s hope the price does not face any other resistance now and if everything happens smoothly the prices will only be increasing in the future.
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