Bitcoin (BTC) increased almost 5% on October 21 due to bullish price action along with news of new companies embracing to increase profits.

Coin360 daily review of the performance of the crypto market

PayPal increased the price of BTC to $ 12,400
Data from the Cointelegraph and Coin360 markets showed 24-hour strength for the bulls on Wednesday, with BTC / USD crossing the $ 12,400 mark.

The press release was $ 12,300 in the spotlight, about an hour after Reuters announced that the payment giant PayPal plans to support Bitcoin and other cryptocurrencies with its Venmo wallet and app from 2021.

The announcement boosted the already busy Bitcoin trading environment as opposition of $ 12,000 evaporated on Tuesday overnight.

Bitcoin earns 8.5% weekly profit, which is increasingly different from other total assets that have performed poorly during the same period.

Cointelegraph previously released a list of factors that an analyst said supports a bullish case for Bitcoin in the future.

PayPal should also support altcoins Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Following this news, the ETH / USD rose 2.2% to $ 378, while the BCH / USD rose 4.5% to $ 456.

Source: CoinTelegraph

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