News From The Crypto Currencies Scene

Despite Positive News From PayPal the Bitcoin Value Doesn't Really Rise

Despite Positive News From PayPal the Bitcoin Value Doesn't Really Rise

The Bitcoin has made some positive headlines these past days, especially after Braintree, a part of the Ebay group, announced that they will be integrating Bitcoin payments into PayPal, which means that the cryptocurrency could potentially become a currency you could pay with millions of places.


With any other currency, stock or whatever else you could possibly trade, this would mean that the value would go up, as it seems that the demand for Bitcoins might go up and because of the positivity of the news story.


What actually happened is another story though, because as usual the Bitcoin didn't really react to what is seen as one of the best news in the history of the coin. According to CoinMarketCap, the Bitcoin has risen 2% in value the past 24 hours, but is still way below the $500 cap it was seen to stabilize at, being at around $475 at the moment.


What might have influenced the good news is the fact that Apple had a press meeting last night where the new iPhone and iWatch was introduced. Here Apple showed that the new iOS8 will have the functionality to pay merchants directly with the phone, which is sort of similar to what the Bitcoin wallet creators has been trying to create with the QR code and it might have influenced some people in a negative way.


Hopefully the Bitcoin will bounce back to its previous levels with more positive news coming out in the coming weeks and from there we will see the rise that the Bitcoin needs at the moment.

All rights reserved.