PayPal Stock Outlook: Digital Wallet Battle Versus Square To Heat Up investors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investors.com Daily Mail and Mail on Sunday newspapers.
In the time these new investors accelerated their buying spree, bitcoin s price more than doubled from $10,000 level. The new demand has helped fuel the cryptocurrency s rally to an all-time high, according to Philip Gradwell, chief economist at Chainalysis. The role of institutional investors is becoming ever clearer in the data, Gradwell said in a note to clients Friday. Demand is being driven by North American investors on fiat exchanges, with greater demand from institutional buyers.
The surge in demand from wealthy Wall Street investors marks a sharp turn-around from bitcoin s first run-up three years ago. The 2017 rally was driven by retail investors, many of whom who bet on bitcoin and other smaller cryptocurrencies out of speculation. Bitcoin became a household name when it first neared $20,000 that year. It crashed soon after, losing 80% of its value in the following months.
PayPal Stock Hits New High As E-Commerce, Bitcoin Trading Rally Continues investors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investors.com Daily Mail and Mail on Sunday newspapers.