Crypto enthusiasm takes off with Bitcoin (BTC) breaking its 2020 high and data seems to point that the leading crypto could surpass its all-time high in two months.
Bitcoin above $ 20K? Possible!
Bitcoin’s annual run started thanks to the boost received by PayPal, who will add crypto support to its platform.
The leading crypto has experienced a slow but steady uptrend since September; in fact, community already had bullish sentiment permeated prior to PayPal’s announcement.
Yesterday Bitcoin went from struggling to break through the key resistance level of $ 12K, to break through it in complete safety. Today the leading crypto reached its annual high of $ 13,217; It is currently trading at $ 13,134.
All of this has stirred up the emotions of the crypto community. In this regard, Skew data indicates that as of October 22, Bitcoin options were moving in favor of higher prices continuing into 2020.
So, with a 7% probability, Bitcoin could be above $ 20,000, its all-time high, by December 31, 2020.
Will the crypto community make Bitcoin break its all-time high?
Paul Tudor Jones adds gasoline to the crypto fire
As if it did not have enough momentum already, the billionaire investor, Paul Tudor Jones, today during an interview with CNBC assured that Bitcoin is the perfect asset to take refuge from inflation.
But that is not all. Jones noted that we are at an early stage in the evolution of Bitcoin and compared its potential to having invested early in technology, such as Apple or in the early stage of Google.
In addition, Jones offered quite a lot of praise to the community that supports Bitcoin, labeling it as smart and sophisticated.
Not everything in PayPal’s crypto news is perfect
Diversity is what makes this world interesting; Therefore, it is to be expected that news of this type will generate two great ideas: for and against.
For some, and probably the reason for the price hike, they saw the news as a crucial moment for the mass adoption of the crypto leader. Now or never! Some thought.
However, others thought quite coldly and pointed out that perhaps it is not such a good thing since the concept by which the cryptocurrency arises is lost.
In this way, some members of the community think that PayPal’s proposal is to integrate Bitcoin but without the characteristics that have made it the market leader crypto.
Some of them have been SatoshiLabs, the creator of the Trezor hardware walley, Jameson Lopp, Brad Garlinghouse, among others.
Bitcoin balances on crypto exchange below 2.5 million BTC
According to data from Glassnode, the amount of the leading crypto that is stored in major crypto exchanges decreased below 2.5 million BTC for the first time in two years.
An interesting conclusion is that there is not much interest in trading crypto, but rather in keeping it safe.
In a few lines …
- Meltem Demirors, CSO of CoinShares, pointed in a interview with CNBC’s Fast Money that PayPal’s incorporation into the crypto world could be accompanied by a launch of its own crypto.
- Emails are being sent on behalf of Coinbase as an act of phishing and affects Microsoft 365 accounts.
- Vitalik Buterin assured today that Ethereum can no longer be considered an Altcoin.