However there’s no denying that the future growth of Bitcoin relies heavily on a few key topics. While PayPal has recently grown to accept the use of the crypto currency on its services, it remains to be seen if banks will do the same.

The hash rate as well as the stimulus in response to the Coronavirus outbreak will also play a large role. In the meantime, as its volatility continues so do large movements of money through it. Recently the largest transaction in Crypto history moved over a billion in Crypto and how much did it cost? A grand total of $3.58.

What Other Price Movements Have Happened In The Cryptocurrency Market?

Anthony Pampliano, co-founder of Morgan Creek Digital offered a unique look at the current situation. According to Pampliano despite its volatility Bitcoin has become something of a safe haven for investors and that’s due to a simple reason: Bitcoin appears to have broken away from the stock market. According to Pampliano the recent movements of Bitcoin are completely divorced from the “stock market”, so the currency offers it’s own semblance of stability.

Mike Novogratz one of Crypto’s main advocators echoes a similar sentiment. According to Novogratz Bitcoin acts in a similar fashion asGold does; offering a way to store value but it won’t likely become a street currency anytime soon. That said the above might as well only apply to bitcoin. Other currencies like Ethereumseem to be on the low despite the success of its peer.

However, while it might be bad crypto news for all currencies not named Bitcoin the market situation still remains hopeful.

MicroStrategy has made well over $100 million in profit from its Bitcoin investments. Which is more money than it made as an analyzing business. And even Visa has tried to hop on the bandwagon.

That said not everything is completely seamless when it comes to adapting to the Crypto world. Visa has now found itself being investigated by the US Department of Justice for its’ acquisition of fintech company Plaid. And similar investigations have started for a large number of social media platforms. Showing that not all forces are as invested in change as companies might be.

Of course public acts by Crypto scammers such as defacing Donald Trump’s campaign website do not help the situation. And while Crypto Currency has proved to be a positive force of change allowing companies to grow and businesses to hire more people skepticism is hard to get rid of. As it stands we are currently in the middle of a major change process for Bitcoin. PayPal’s acceptance of the currency might be the first step in a larger crypto currency transformation, but we might still be years away from society truly embracing it.

Summary

Article Name

The Bitcoin Price Is On The Rise, And Other Recent Crypto Currency Movements

Description

While Bitcoin has yet to reach it's high of $13, 400 it's not all bad Crypto Currency news when it comes to the currency. While recent movements have seen it drop as much as 4% in one day experts remain rather optimistic.

Author

Vladimir

Publisher Name

ArmyOfBitcoin.com

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