PayPal Bitcoin Rumor Boosts $12K BTC Price Rally Chances
Sudden suggestions that Bitcoin support is coming to PayPal and Venmo is causing traders to reassess the likelihood of a BTC price bull run.
Bitcoin (BTC) coming to PayPal and Venmo may be just a rumor, but some of the cryptocurrency’s best-known names are turning bullish.
As the news hit that the payment processor was allegedly planning crypto buying and selling for its 305 million users, BTC/USD spiked to test resistance at $9,600.
Keiser: PayPal will fuel “global hash war”
Despite PayPal declining to confirm its plans, a wave of optimism has since flooded social media, with various figures welcoming the move while highlighting its irony.
“Slowly, then suddenly,” the @Bitcoin Twitter account summarized.
For RT host Max Keiser, the move appeared tied to competitive advantage. Square, the sister company of Twitter, rolled out Bitcoin support with great success last year.
“#Bitcoin’s built-in game theory strikes again.
Coin Telegraph - 23rd Jun 10:06