BTC- PayPal hype could be as big as BTC ETF hypeThe drop to 9.2k-9.5k never happened and the recent consolidation above 10k demonstrated bull's conviction.
I expect the incoming shallow pullback and it will be even more bullish if weekly candle can close between 12k-12.5k.
First MicroStrategy, then Square and now PayPal.
PayPal supports 26 millions merchants and has 300 millions + customer accounts. Its announcement to support crypto payment couldn't come at better time.
Moreover, JPMorgan jumped on the bandwagon by making optimistic prediction of BTC's upward price potential this week.
Other on-chain indicators also point to the increase of whale hodlers.
Furthermore, institutional demand continues to go up while exchange reserve continue to drop.
Overall, I think BTC is making a steady progress and we are finally getting one step closer to break through the 3 year consolidation.
