We have seen Bitcoin’s price moon since the US election and it is close to the record highs of 2017, at the moment trading at $18,200.
Not only has the stimulus package helped the run-up to almost previous highs, it has also been helped by the halvening and another recent highly talked about topic; Paypal.
On the 21st of October, Paypal announced the launch of their Bitcoin offering to the public and there was a spike in the announcement. At the time, Bitcoin was trading just below $12,000 and in a month, the price has ballooned 52.86%.
The announcement came at a crucial time, at a time where Paypal has customers who have gone through the KYC process and are ready to invest straight away.
The growth can’t be simply a coincidence and Paypal has also confirmed it will not charge any fees on their Bitcoin offering. These are exciting times indeed.