Bitcoin Towards $60k Again, Binance Coin (13%) And Filecoin (25%) Soar

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Last Updated on 31 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin rises towards $60k again as it embarks positively towards the start of April, normally a very bullish month for the best known cryptocurrency. It is trading at $59,600 now, whereas last week people were worried whether it would drop below the $50k level.

Over in the broader altcoin market both Binance Coin (up 13%) and Filecoin (up 25%) are making strides.

There was good news from PayPal that will allow you to pay for goods in Bitcoin and Bank of New York Mellon is now seeing a future for Bitcoin as well. Remarkably, they used PlanB’s model to prove their point.

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Paypal allows you to pay in Bitcoin

Paypal CEO Dan Schuman announced that all its US customers holding Bitcoin, Ether, Bitcoin Cash or Litecoin in their digital wallets would shortly be allowed to make purchases at millions of merchants in a few months from now, creating a global use case for cryptocurrencies.

Schuman explained:

This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet.

PayPal will accept any supported crypto as a payment and will convert it to fiat for the merchant. Currently there are no transaction fees for this new feature.

The market reacted positively to the news and crypto commentators hope that others will follow.

Bank of New York Mellon discovers Plan B

Just like many other financial institutions on Wall Street had already done, Bank of New York Mellon showed its hand on Bitcoin. Their report admitted that cryptocurrencies would take away some investment form gold in the coming years. In order to correctly valuate it, the bank used the stock to flow model made by anonymous Dutch trader PlanB.

Bank of New York Mellon expects Bitcoin to reach at least $100k before the end of 2021.

yskandag / Depositphotos.com