The leading cryptocurrency Bitcoin [BTC] has gained almost 5% today on 21st Oct. as bullish price action combined with fresh corporate adoption news to spice up gains.
At the reporting time, $12,300 USD formed the focus, around an hour after Reuters reported that payment giant PayPal plans to support Bitcoin and other cryptocurrencies via its wallet and Venmo app from 2021.
The announcement added to an already buoyant BTC trading environment, with $12,000 resistance evaporating overnight on Tuesday.
Weekly gains stand at 8.5% for Bitcoin, which is increasingly diverging from other macro assets, which put in lackluster performance over an equivalent period of time.
Earlier, as per an official report published an inventory of factors which one analyst believes all support the bull case for Bitcoin going forward.
As per Ann earlier report by EtherDesk, PayPal also now supports Ethereum [ETH], Litecoin [LTC], and Bitcoin Cash [BCH]. Following the news, ETH/USD increased by a modest 2.2% to $378, while BCH/USD put in 4.5% gains to hit $456 USD.