- PayPal set to hire tow blockchain engineers amid rumors of cryptocurrency integration.
- Bitcoin price tests $9,800 riding on the PayPal rumors; a sigh of relief for BTC investors.
Bitcoin price extended the minor bullish momentum witnessed on Monday to levels close to $9,800. A weekly high was formed at $9,786.24 before a retreat came into the picture. The breakout has been linked to the rumors that PayPal could be moving towards the integration of Bitcoin and other cryptocurrency payments.
The rumors of the integration surfaced following two job listings by PayPal. The job listings are seeking for cryptocurrency and blockchain experts. PayPal commands a market of more than 305 million around the globe. One of the listing is titled “Technical Lead – Crypto Engineer.” This person will account for:
“New initiatives for PayPal global with a focus on agility, time-to-market and innovation. The role includes designing, developing and maintaining key crypto products/features targeted towards availability, performance and scalability of PayPal services.”
The second job listing is seeking for a blockchain research engineer who will work in PayPal’s research team “within the Strategic Technology Enablement team chartered with establishing expertise and opinions on emerging blockchain technologies and their potential uses within PayPal.”
The job listings remain live and public amid rumors that PayPal is gearing towards the integration of cryptocurrency payments. PayPal has for a long time considered developments in blockchain and virtual currencies to carry potential risks that are likely to harm the firm. However, company policies change all time and this could be PayPal’s way of diving into the rapidly growing blockchain industry.
Meanwhile, investors are nonetheless relieved that the rumor sent BTC closer to its psychological barrier at $10,000. It is now clear that a boost above $9,800 could pave the way for gains above this same barrier. For now, Bitcoin has retreated to $9,650 after $9,700 failed to transform into a support area. Support above $9,600 will, therefore, avert losses towards $9,500 and allow bulls to focus on the barriers at $9,600 and $10,000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.