The bitcoin rate for the first time since January 2018 exceeded $ 14 thousand. Experts expect further cryptocurrency growth.
According to the Coinmarketcap.com crypto exchange, the bitcoin rate for the first time in almost three years exceeded $14,000. The growth of the cryptocurrency began on October 31 at 13:00, it added about $300 and reached $ 14,027 at the maximum. At the time of writing, Bitcoin is worth $13,778.
Bitcoin last hit that mark almost three years ago, in January 2018. But in that case, the cryptocurrency fell after reaching a peak of $20 thousand. Judging by the charts of the exchange, in October 2020, bitcoin added more than 25% of its value. This is the largest rise in Bitcoin in a month since April.
Experts who have commented on the growth to Bloomberg, note that they expect it to strengthen further. This is evidenced by the growth of interest from companies, as well as the decision of the PayPal payment service to open users access to cryptocurrencies. Also this week, JP Morgan Bank decided to use its digital currency for payment for the first time.
Starting October 26, all PayPal users in the US can officially buy and sell bitcoins and other digital currencies on the platform. The service notes that the cryptocurrency can be used to pay for goods at more than 26 million sites that cooperate with PayPal. However, they will not receive payment other than Bitcoin, Ethereum, or Litecoin. Instead, PayPal will pay in local currency – in this case, dollars.