Unlike previous weekends, this one was all about losses, not gains for Bitcoin. After hitting all-time highs of exactly $42,000 on Bitstamp, a reversal came but was initially slow to kick in. It was not until Sunday that the downwards pace began to accelerate, with BTC/USD dropping by almost $6,000 in 12 hours. A brief bounce failed to stem the retreat, and the pair continued falling into Monday, bottoming out at $30,700.
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Markets Report: Bitcoin hits $20,000 as sellers give way to new all-time highs
A fresh charge sees multiple exchanges hit record Bitcoin price levels as bulls show no signs of giving up the fight in the BTC ‘liquidity crisis’
That level marked not only daily gains of more than 6%, but also a new all-time high for Bitcoin on multiple major exchanges. At press time, the largest cryptocurrency was experimenting with never-before-seen levels amid intense volatility. Just hours before, it had traded at closer to $19,000 support.
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PayPal CEO Dan Schulman's customers may already be buying BTC faster than it is mined (Photo: PayPal)As customers buy more BTC than miners create, PayPal’s stock hits record high
Barely a month after the payments giant allowed U.S. customers to start buy bitcoin from their accounts, demand is outstripping the supply of new bitcoins
PayPal only began allowing U.S. customers to buy, sell, and hold bitcoin, ether, litecoin and bitcoin cash on Nov. 12. In 2021, it will expand that service to its whole 350 million strong international customer base, president and CEO Dan Schulman said. That will vastly expanding the number of potential mainstream retail investors.
