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

Bitcoin fixed above the $13,000 mark. Data on the capitalization of bitcoins for the weekly period increased by $30 billion, pushing the total volume of capitalization of the entire cryptocurrency market to $400 billion. Earlier, namely, the spring of 2018 was indicative for bitcoin, the indicator exceeded the $400 billion mark. At the end of 2017, bitcoin managed to reach a record historical maximum price, and the amount of capitalization throughout the crypto market was $1 trillion.

Is PayPal the reason for bitcoin's growth?

The PayPal payment system announced the opening of a service in the United States in the next few weeks, where customers will be able to freely purchase, save and sell cryptocurrency assets through the PayPal service wallet. The company's confidence inspires confidence, since such a project can significantly increase the useful functions of cryptocurrencies.

In new York state, with the assistance of the Department of financial services, PayPal announces its release, this is the first company to receive a conditional license from Bitlicense.

as they say from the report of Dan Shulman, as President and CEO of PayPal, this transition to a digital format in mutual settlements of cryptocurrency assets is dictated by time, the process is simply irreversible. All these actions are aimed at the availability and efficiency of the financial sector, using such a service increases the speed and stability of payment systems. The government will be able to distribute funds among the population in a fairly short time.

Will investors ' hope return that everything will be restored soon?

Institutional investors continue to build up their positions in bitcoin. Since October 17, Grayscale CEO Barry Silbert announced a record achievement of $ 6.4 billion, which was transferred to bitcoins.

As a result, Grayscale's capital investment of $ 300 million is a significant step to increase the investment Fund by $ 1.05 billion. The entire process took 90 days for the full third quarter of 2020.

Corporate interest in bitcoins is becoming more obvious and will only continue to grow in the future. it is assumed that other companies will follow the example of Grayscale and reorient themselves to institutional investment with further capital growth.

An unexpected statement from JPMorgan.

An unexpected and positive opinion on the future development of bitcoins was expressed by the banking giant JPMorgan. As noted by the investment Bank, the process of bitcoin growth is significantly important in the long-term prospects, and the further development of the cryptocurrency can be a serious competition for gold.

From the analytical structures, attention is drawn to the low level of capitalization of bitcoin, they believe that this is due to the age limit, that is, the cryptocurrency is interested in a fairly young generation belonging to the group of Millennials, older people tend to keep their savings in material forms and in gold.

JPMorgan gives its estimate of the volume of physical gold in the markets, with accounting for the security of this Bank's ETF. The total volume was $2.6 trillion. Bitcoin needs to continue its growth to match the performance of the precious metal, it needs to increase the level 10 times and reach the $ 13,000 milestone.

According to the JPMorgan report, cryptocurrency has its value not because it is a stable currency for savings, but its potential is already gaining practical significance with the function of a means of payment. With an increasing number of economic agents, it will be possible in the near future to use cryptocurrency as a means of payment, and this will only increase the practical significance and value of bitcoin.

A powerful start to the slalom is possible, which will trigger the expiration of options!!!

On October 30, when the bitcoin options on CME expired, the total value of $750 million. At the close of the week, bitcoin managed to cross the $13K threshold, which is quite a serious and fundamental indicator that is aimed at further jumps.

Each factor can be the starting point at which investors will start a mass acquisition.

Invest in bitcoin right now.

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Trading in Financial Markets carries a high level of risk for investors. All materials are published for informational purposes only.