PayPal's introduction of cryptocurrency could lead to a significant increase in its price
The excitement surrounding cryptocurrencies has gradually died down, and ordinary people are no longer rushing to buy Bitcoin in hopes of a record price increase.
Currently, this method of payment is used only by people who need to hide their income or by professional speculators.
The rates of the most liquid cryptocurrencies have stabilized and mostly move within a certain price range.
For this situation to change, something beyond the norm must occur.
And such an event has occurred: PayPal, one of the largest payment systems, announced that it will allow its users to use cryptocurrency in 2021.
PayPal customers will be able to not only exchange and store their cryptocurrency in personal accounts but also use it for payments at over 26,000,000 merchants.
But the most important thing is that more than three hundred million users of the payment system will have the opportunity to conduct transactions with digital currencies without unnecessary hassle.
Essentially, this is a huge step toward legalizing the cryptocurrency market and popularizing this payment method among law-abiding citizens.
What will happen after PayPal implements cryptocurrency support?
As we know, the digital currency market also operates under the influence of supply and demand, and this will bring 350 million new buyers to crypto.
This news has already led to a 15% surge in Bitcoin. What will happen after PayPal's plans are implemented?
Growth was also observed in several other digital currencies.
This means we should be prepared for a massive surge in the cryptocurrency market in the first half of 2021, which will drive even greater demand.
Now is an excellent opportunity for long-term investors and speculators to acquire a portfolio of the most popular digital assets and wait for their price to rise.
It's advisable to make the purchase in a couple of weeks, when rates stabilize and the current price falls back to $10,000-$11,000 per Bitcoin.
Technically, this can be done either on specialized exchanges or directly on Forex, depending on which option best suits your needs.
