News of PayPal’s support for crypto assets has triggered a rally in the markets, with Bitcoin trading above $13,000 for the first time since July.
Bitcoin (BTC) has rallied above $13,000 for the first time since July, and only the third time since the all-time high bull run of late-2017.
The move follows the long sustained period of five-figure price action, with BTC having spent nearly the entirety of the past 12 weeks trading above $10,000.
Weekly BTC/USD chart: BitcoinWisdomThe spike was triggered by news that the global payments giant PayPal is launching support for Bitcoin, in addition to Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Quantum Economics founder Mati Greenspan said the rally was almost entirely driven by PayPal.