Bitcoin Weekly Outlook: PayPal FOMO 2.0 Validates $20K Target
The PayPal FOMO could allow Bitcoin to hold $18,500 as support for its next upward leg towards $20,000, its record high with a huge sentimental value among traders.
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Payments giant Paypal has increased its weekly purchase limit for cryptocurrencies and has removed the annual limit altogether. The company said, “These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.” Paypal Increases Buy Limit for Cryptocurrencies Paypal Inc. announced Thursday that it has increased purchase limits for cryptocurrencies. The company explained that since the U.S. launch of Paypal Crypto in October 2020, it has been actively engaging with customers “to better understand their needs,”....
PayPal back in October, 2020 had announced the rollout of a feature that would enable their users to buy cryptocurrencies using the site. The rollout began with US customers and PayPal slowly spread it out to customers in other regions. Continuing on this streak, PayPal had treaded softly with the amount of cryptocurrencies it allowed […]
Bitcoin market sentiment fared an extremely bullish setting last week as traders/investors assessed the foray of big firms into the digital currency sector, including PayPal.
In the short-term, supporting the upside outlook is the uncertainty led by a rising number of coronavirus infections in the US.
Data shows the Bitcoin trading volume has dropped to its lowest level in 14 months, signaling that FOMO around the crypto may be no more. Bitcoin Trading Volume Sinks To Lows Not Seen Since December 2020 As per the latest weekly report from Arcane Research, the BTC trading volume has continued its decline this week, […]