Crypto Market-Round Up #1 - Bitcoin reaching fresh 2020 highs, PayPal crypto integration & Ethereum
In the first edition of the Liquidary Crypto Market Round-Up we cover Bitcoin`s sudden rise to fresh new 2020 highs, PayPal integration of cryptocurrencies and Ethereum. We aim to bring out the Liquidary Crypto Market-Round once a week featuring influencers, CEOs and others that share valuable opinions on major topics of the week.
PayPal cryptocurrency integration
PayPal announces its entry into crypto space. Soon, US customers will be able to buy and store Bitcoin through the platform. In addition, from the beginning of 2021 it should be possible to make payments with crypto currencies via PayPal. In the coming year, the offer is to be expanded to other countries.
On the day of the announcement, PayPal’s shares on Wall Street traded at +3%. The PayPal cryptocurrency integration also had a positive impact on Bitcoin. The most popular cryptocurrency has never been more valuable since July 2019: The Bitcoin price rose intraday to over 10%. The entry into the crypto business could send a signal to other companies in the industry because there are numerous companies that have been pondering the implementation of digital currencies for a long time – similar to MicroStrategy shifting, as one of the first publicly listed companies, a substantial part of its balance sheet into Bitcoin.
Bitcoin reaching fresh, new 2020 highs – Passing 12.5k$
The Bitcoin price has reached new annual highs on Thursday being traded at over 13,200$. This substantial move made Crypto Twitter cheering the recent price move. Find some examples below – like Tyler Winklevoss mocking Paul Tudor Jones who recently announced that he allocated a small percentage of his net worth to Bitcoin saying that “Bitcoin is in the bottom of the first inning”.
Buying BTC the last few weeks feels like catching the last flight before COVID hit
— The Crypto Dog📈 (@TheCryptoDog) October 22, 2020
Mocking Paul Tudor Jones Bitcoin call from a few day ago, Tyler Winklevoss and others are expecting Bitcoin to have just started a bull market that will last longer than many people might think.
Additionally, many people are expecting another stimulus check in the US to have positive impacts on both traditional and crypto markets.
#Bitcoin is in the bottom of the first inning
— Tyler Winklevoss (@tylerwinklevoss) October 22, 2020
Ivan on Tech mentioning both Bitcoin and Etheruem going up. Ethereum suffered from Bitcoin`s sudden rise in terms of BTC value reaching low RSI figures, however the biggest smart contract platform made a string re-bound just one day after Bitcoin reaching fresh 2020 highs.
Balajis pointing out the tremendous impact of Ethereum and Bitcoin in terms of yearly volume.
Ryan Selkis, quoted by Balajis, stating his opinion that Ehtereum is superior to Bitcoin in terms of its usecases as a platform for dApps, smart contracts, DeFi, stablecoins, etc while Bitcoin is more a form of money and as such superior to Ethereum. Certainly a topic that brings a lot of tension between Bitcoin maximalists and altcoiners.
BTC and ETH may each handle close to a trillion dollars of volume this year.
— balajis.com (@balajis) October 23, 2020
People outside the space simply do not understand the scale of the cryptoeconomy. https://t.co/2Z90Xzh2mp
The Federal Reserve balance sheet is at a new all-time high. pic.twitter.com/lR3JUWGx0t
— Pomp 🌪 (@APompliano) October 23, 2020
Anthony Pompliano, Partner at Morgan Creek Capital and Host of the Pomp Podcast, noticing the Federal Reserve`s balance sheet reaching new all-time-highs making the balance sheet grow 69% in the 2020 alone while in 2008 it rose by 150%.
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