Market Cap
24h Vol
5186
Cryptocurrencies
33358
Markets
2020-10-22

Bitcoin's rapid price increase

The news of PayPal's support for crypto assets triggered a rally in the markets, with Bitcoin trading over $13,000 for the first time since July.

Bitcoin (BTC) has risen to more than $13,000 for the first time since July, and only for the third time since the ubiquitous high speed bullshit in late 2017.

This move is a consequence of a long period of five-digit pricing, in which BTC has spent almost the entire last 12 weeks trading over $10,000.

The jump was triggered by the news that global payment giant PayPal is launching support for Bitcoin, in addition to Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

Quantum Economics founder Mati Greenspan said that the rally was almost entirely driven by PayPal.

While Ethereum gathered together with Bitcoin, ETH has not been able to maintain its strength against Bitcoin since it reached $400 in August in the face of the decentralized financial boom. Ether is currently testing the strength of $400.