Bitcoin (BTC) peaked at $ 12,865 during trading on October 21 as news that PayPal would support the cryptocurrency continued to spur markets.

BTC Price Closes At Peak In 2019

Data from the Cointelegraph, Coin360 and TradingView markets confirmed that Bitcoin is the best day in more than a year, with a 24-hour gain of 7%.

At press time, a few hours after rising to $ 12,400, BTC / USD crossed $ 12,500 and met resistance below $ 13,000.

As Cointelegraph reports, PayPal plans to support Bitcoin and three altcoins – Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) starting next year.

Reactions continue to emerge and mingle with sentiment, with some analysts criticizing the company for not giving potential investors the freedom associated with conventional cryptocurrency wallets.

PayPal aims to offer storage services for physical cryptocurrency, but imposes restrictions on how money gets into and out of its products.

Quantitative analyst PlanB objected, “So this is a big PayPal burger. Nothing, just entries in the central PayPal database, nothing to do with Bitcoin. ”

However, the impact on market sentiment became evident immediately after Reuters released the news and Litecoin pushed altcoins up 11.1% to $ 52.30.

Source: CoinTelegraph