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.

Recent Posts

Ripple’s XRP is skyrocketing as the team celebrates three wins in a row in its SEC lawsuit

This Friday, U.S. Judge Sarah Netburn granted Ripple’s motion to keep its CEO’s financial records private after the Securities and Exchange Commission…

20 hours ago

SEC’s Crypto Mom is calling for the U.S. to catch up and considers a ban on Bitcoin foolish

According to Hester Peirce, an American lawyer and Commissioner at the US Securities and Exchange Commission (SEC), a government ban…

21 hours ago

Bloomberg expects Bitcoin price to land on $400,000 in this halving cycle

In the latest edition of its monthly “Crypto Outlook,” Bloomberg, senior strategist Mike McGlone reports on the bullish narrative around bitcoin…

21 hours ago

Coinbase high valuation is not a “done deal”, as analysts issue some caution ahead of its direct listing

Looking ahead to next week’s Coinbase direct listing, analysts conclude that by no means it is a “done deal” game…

22 hours ago

Bitcoin’s adoption is at a “tipping point”, according to Fidelity Investments Executive Tom Jessop

During an interview at Marketwatch and Barron’s “Investing in Crypto” event, Tom Jessop, Head of Fidelity Digital Assets at Fidelity…

3 days ago

Cardano’s Alonzo upgrade is expected to be live by end of summer

In a blog post that was announced on their Twitter page on Thursday, The Input Output HK (IOHK) team outlined…

3 days ago