Information on Paypal designs and why they may prove to be a catalyst for the cryptocurrency market. What does the technical analysis of bitcoin show and who does it consider to be just gambling?
What is the biggest problem with bitcoin adoption and possession? Most do not know how. They are afraid of the unknown, the different. They do not feel the security that comes from the intimacy of the medium.
As we have repeatedly stated, developments in the field of cryptocurrencies are not progressing. They are running. This is not necessarily the case, as many processes and technological innovations are taking place in the background. This time, however, the rumor is circulating that something shocking is about to happen, which will change a lot in the crypto market: One can buy bitcoin through the Paypal electronic payment platform! Never; Within 3 months at the latest.
We repeat, this is a rumor , as there has been no official announcement so far. However, this is not a simple piece of information that came from some dark and suspicious centers. The conclusion stems from Paypal itself, as it seeks staff specializing in cryptocurrencies.
Specifically, this is a job entitled "Technical Lead - Crypto Engineer" . According to the description, the position is responsible for "new initiatives for PayPal global. It includes the design and development of key encryption products, aimed at expanding PayPal services. " It also asks to hire 8 blockchain engineers. Four for her offices in San Jose, California and four more in Singapore.
Apparently that's why a restrained optimism prevailed since yesterday morning , which was reflected in the price of bitcoin. As we can see from the 4-hour diagram, it moved in a continuous upward trajectory, which found an obstacle in the green side resistance line. The reluctance of the last few hours is due to the fact that there is no official confirmation from PayPal yet.
Why is this so important? PayPal has 325 million users. How many bitcoins are currently available? 18.4 million. How many will come out in total? Just 21 million . You don't have to do the practice to figure out what's going to happen. Demand rises sharply, while supply remains limited and strictly defined.
From what has been leaked, PayPal is not only going to buy and sell cryptocurrencies, but will also have an e-wallet where it can also store them. Apparently, it will not only apply to bitcoin but at least to Ethereum . That's why it went up a lot yesterday.
Other news from the crypto market
* The Italian Banking Association (ABI) has announced that its members are willing to pilot the digital euro in order to help speed up the implementation of a digital currency backed by the European Central Bank. ABI has more than 700 Italian banking institutions.
* Famous investor Jim Rogers , co-founder of George Soros' Quantum Fund, said he insisted that the price of bitcoin would eventually fall to zero. He believes that investing in any cryptocurrency is not an "investment goal" but "just gambling" . His main argument, apart from the instability they have in price, is the power of governments.
"Governments have something that digital currency people don't have: weapons. I believe that digital currencies will eventually disappear because they are not based on the armed forces of governments. "
