Weltrade. Bitcoin $ 13,000. The way to $ 20,000 is open!

Ted Capwell Updated:

Bitcoin has fixed above $ 13,000. According to the results of last week, the capitalization of bitcoin increased by $ 30 billion, pushing the total indicators of cryptocurrency market capitalization to $ 400 billion. Only in the spring of 2018, when Bitcoin was able to demonstrate such an achievement, the indicator exceeded $ 400 billion. At the end of 2017, bitcoin managed to reach the maximum price in terms of the total capitalization of all crypto markets of $ 1 trillion.

Has PayPal propelled Bitcoin to this growth?

The service of payment systems PayPal announced the upcoming launch within a few weeks in the United States, thanks to which customers will be able to purchase, store, sell cryptocurrency using the PayPal wallet. The company assures that such steps will greatly enhance the useful functions of cryptocurrencies.

PayPal Bitcoin

Their superiority is reported from PayPal that they are the first to hold a Bitlicense conditional license.

The transition to the digital methodology of the currency format is inevitable, since it will be able to prove an obvious advantage in terms of financial affordability, high efficiency of functions, high-speed service, and stability of payment settlements. The government will more quickly disburse funds to American citizens. (Dan Shulman, CEO of PayPal).

Have investors got faith in a quick recovery back?

Institutional investors continue to build up their positions on bitcoins. Since October 17, Grayscale CEO Barry Silbert has announced a record $ 6.4 billion in bitcoin denominations.

GrayScale Bitcoin

The $ 300 million invested from Grayscale represents a significant investment increase of $ 1.05 billion. Everything came true in 90 days of the third quarter of 2020. An obvious process of growing corporate interest in bitcoin is a prerequisite that organizations are starting to target institutional investors like Grayscale and will continue to grow in the future.

Unexpected analyst statement with JPMorgan.

Quite positively and unexpectedly, he put forward an opinion regarding the future prospects for bitcoins from one of the largest banks in the world, JPMorgan, calling bitcoin as significant with long-term growth and huge potential, and that in the future Bitcoin can compete with gold in the struggle for a place in primacy among safe haven assets.

On the part of analysts, there is some concern, they note that at this stage, Bitcoin does not have a high capitalization, this is due to the fact that only a certain group of people of the younger generation belonging to millennials operate with cryptocurrency, people of the older generation with a conservative mindset continue to trust material forms or gold.

JP Morgan Bitcoin

Based on analytics from JPMorgan, the volume in the gold market, including bank-backed ETFs, was $ 2.6 trillion. In this case, Bitcoin, in order to reach the Gold indicators, it is necessary to make x10 from the current value and pass $ 13,000.

According to the JPMorgan report, cryptocurrency assets are valuable not only because they are a reliable store of value, but they are also valued from a practical point of view, as a means of payment. The growing number of economic agents further promotes the use of cryptocurrencies as a means for mutual settlements, which increases their importance and cost.

A powerful start is possible before the end of 2020 !!!

On October 30, BTC will be exported to CME, the amount is 750 million dollars. The end of this period and the price fixing above the $ 13,000 mark may indicate serious fundamental reasons for further growth.

Bitcoin $20000

All these factors can further motivate investors to make further investments. This year can also please us with a good growth in bitcoin and the crypto market in general.

Invest in Bitcoin right now