The week is over and so we can list the most important news of the past week. While the bitcoin (BTC) rate on the weekly chart shows a green candle with an increase of 20%, this week we saw a number of positive messages that may support this increase.
Willy Woo: “Bitcoin (BTC) on my model to $ 400,000”
First, we heard on-chain analyst Willy Woo say that he expects bitcoin to rise a lot higher during this cycle. His model expects a bitcoin price of a whopping $ 400,000. His cautious expectation is that this price can be reached as early as December.
Crypto exchange Binance launches 3 new stock tokens
Cryptocurrency exchange Binance previously launched Tesla and Coinbase stock tokens. These are crypto tokens that represent traditional stocks on the blockchain. Investors can use this to buy small fractions of a share, thus lowering the investment threshold.
PayPal sees much higher demand for crypto than expected
The well-known online payment processor PayPal has recently started selling bitcoin and other crypto on its platform in the United States. Customers can therefore pay with this crypto at online web shops that accept PayPal.
In an interview with TIME Magazine, the company’s CEO, Dan Schulman, said that “the demand on the crypto side is many times what we initially expected”.
Cardano (ADA) makes announcements about collaborations in Africa
Finally, we saw the developer of Cardano (ADA), Input Output, make some interesting announcements this week. For example, it will give 5 million students in Ethiopia a digital identity. It tries to do the same for residents of Tanzania who live in remote areas. Can Cardano boost the African economy?