It’s been quite a week for Bitcoin, a week we’ve been waiting for. The coin is up nearly 13 percent and burst through the $13,000 barrier. Some of that support came from Paypal’s decision to enable cryptocurrency purchases, a move that sent its stock soaring . The company will need that kind of rise to stay ahead of the coin’s value. Bitcoin’s valuation is now just one behind the payments processor that lets people trade it.
Traders, though, expect that Bitcoin will slow down after that strong rally, which has allowed the coin to regain its cryptocurrency dominance . Some experts think that the new level might even be meaningless. They see prices falling unless it picks up some strong support from bulls.
One person who sees any fall as temporary is Raoul Pal. A former Goldman Sachs hedge fund manager, Pal has said that he thinks Bitcoin could reach a […]
October 25, 2020 (updated October 25, 2020) Published by StockMan