Bitcoin on the move to surpass 16,000 Dollars
There is almost no selling going on in the crypto currency.

Bitcoin is up more than 10% in the past two days, breaking the $ 15,000 mark for the first time since January 2018, with experts speculating it could soon hit $ 20,000, back to its highs for the year 2017. The cryptocurrency is now becoming the most popular safe haven in the world.
"It was important for Bitcoin to break the $ 12,000 resistance area," Alex Kuptsikevich, senior financial analyst at FxPro, told Forbes. The fear factor plays a role, of course, and we saw that in the 2016 presidential election. Back then, Bitcoin was around $ 709 before climbing towards $ 20,000. But this time around, there's a story to learn from, in addition to the feelings - as well as a number of positive moves toward Bitcoin, including PayPal's great link with crypto.
PayPal customers will be able to pay merchants with cryptocurrencies from early 2021. Last month, PayPal secured its first conditional cryptocurrency license from the New York State Department of Financial Services, the first approved facility for a conditional bit license in New York State. According to many customers, PayPal's move makes crypto "useful" - for the mainstream. With prices exceeding $ 15,600 at the time of this writing, it's hard to argue - as many do - that it will be forgotten in the end. Andy Edstrom of the California-based WESCAP group recently said that a bitcoin will be worth $ 400,000 by 2030.
Germany's largest lender, Deutsche Bank, suggests that cryptocurrencies could replace cash payments within the next decade. Bitcoin has seen strong growth this year during the COVID-19 pandemic, with Bitcoin's value more than doubling since the start of the year. And established companies keep jumping on board. In addition to the PayPal connection, the payment company Square is the youngest large company to invest in cryptocurrency.
In late October, the company said it bought 4,709 bitcoins valued at approximately $ 50 million, accounting for about 1% of Square's total assets. In August, business analytics firm MicroStrategy announced that it was the first Nasdaq-listed company to adopt Bitcoin as its primary financial reserve, using up to $ 250 million of its cash holdings to invest in Bitcoin. The following month, the company bought 16,796 additional bitcoins for a total purchase price of $ 175 million. Coindesk says the spot market for bitcoin has now taken over, noting that "significant price moves typically trigger large-scale takeovers in the characteristically over-indebted cryptocurrency futures markets."
But the market doesn't see that at the moment, says Coindesk. Instead, the cash market is at the wheel, and we are not seeing large-scale liquidations of people taking bitcoin profits. And now it's getting phenomenally easier to buy Bitcoin for the mainstream to hoard. That could mean this rally has staying power if it's the spot market - and not the whales - that make things work.





