4. October 2023

With a 7% probability, Bitcoin could exceed its historical maximum in 2 months

Bitcoin (BTC) has once again awakened the euphoria of the crypto market. Now, with a 7% probability, it can exceed its historical maximum.

The crypto excitement takes off with Bitcoin (BTC) breaking its 2020 price peak and the data seems to point out that the leading crypto could exceed its historical maximum in two months.

Bitcoin reaches an annual high of $13,217

Bitcoin over 20K? possible!

Bitcoin’s annual race started thanks to the boost received by PayPal, who will add crypto support on their platform.

The leading crypto has experienced a slow but steady upward trend since September; in fact, the community was already impregnated with upward sentiment before PayPal’s announcement.

Yesterday Bitcoin went from struggling to break the key resistance level of 12K USD, to breaking it with complete security. Today the leading crypto has reached its annual high of USD 13,217; it’s currently trading at USD 13,134.

All this has stirred up the emotions of the crypto community. In this sense, Skew’s data indicates that, as of October 22nd, Bitcoin options were moving in favor of higher prices continuing into 2020.

Therefore, with a 7% probability, Bitcoin could be above USD 20,000, its historical maximum, by December 31, 2020.

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  • As if he didn’t have enough momentum already, billionaire investor Paul Tudor Jones, in an interview with CNBC today, said that Bitcoin is the perfect asset to shelter from inflation.

But that’s not all. Jones noted that we are at an early stage in Bitcoin’s evolution and compared its potential to having invested early in technology, such as Apple or in the early stages of Google.

Jones also offered a lot of praise to the community that supports Bitcoin, calling it intelligent and sophisticated.

Bruno Le Marie: Blockchain yes but Bitcoin no

Not everything in the crypto news of PayPal is perfect

Diversity is what makes this world interesting; therefore, it is to be expected that news of this kind will generate two great ideas: for and against.

For some, and probably the reason for the price hike, they saw the news as a crucial moment for the mass adoption of leading crypto. It’s now or never, some thought.

Others, however, thought rather coldly and pointed out that perhaps it is not such a good thing since the concept by which cryptomoney arises is lost.

Thus, some members of the community think that PayPal’s proposal is to integrate Bitcoin but without the features that have made it the leading crypto in the market.

Some of them have been SatoshiLabs, the creator of the Trezor hardware walley, Jameson Lopp, Brad Garlinghouse, among others.

PayPal will allow crypto currencies such as Bitcoin and Ethereum

Bitcoin balances in crypto exchange below 2.5 million BTC

According to Glassnode data, the amount of leading crypto that is stored in the major crypto exchanges dropped below 2.5 million BTC for the first time in two years.

An interesting conclusion is that there is not much interest in exchanging crypto, but in keeping it safe.

The average value of each Bitcoin transaction (BTC) increased 500%.