For Bitcoin, it’s been a whole week we’ve been waiting for. The coin is up nearly 13 percent to cross the $ 13,000 mark. Part of that support came from PayPal’s decision to allow cryptocurrency purchases. This led to an increase in inventories. It will take such a surge for the company to stay one step ahead of the coin’s value. Bitcoin’s valuation is only one left behind the payment processor that people can trade with.
However, traders expect Bitcoin to slow down after this strong rally, which has allowed the coin to regain its dominance in the cryptocurrency. Some experts believe that the new level might even be meaningless. You will see prices falling unless they are heavily supported by the bulls.
One person who considers a fall to be temporary is Raoul Pal. Pal, a former hedge fund manager at Goldman Sachs, believes Bitcoin could reach $ 1 million in just five years.
While Bitcoin is trying to decide whether to keep rising, falling back, or holding around $ 13,000, Monero and other privacy coins are doing fine. Monero is up more than 14 percent in the past few weeks and up over 41 percent in the last month.
One place that is happy with the new price level of Bitcoin is Turkey. Acceptance in this country is increasing as inflation drives prices up and the Turkish lira falls against the dollar. The currency has fallen by around a third since the beginning of the year. Turkish registrations on Paxful, a bitcoin marketplace, have increased 274 percent in the past twelve months.
However, it’s not just financial health that the blockchain preserves. Seventeen million Chinese tourists have now used a blockchain to check their health before visiting Macau. IBM has developed a blockchain-based digital health passport that allows users to securely store their health reports on their smartphones. Individuals must give their consent before granting access to details of their IBM Digital Health Pass.
And in Kyrgyzstan, Sadyr Japarov, the country’s prime minister and new incumbent president, has proposed using a blockchain to secure future elections. The country had three revolutions caused by unfair elections, he said. Japarov took power after his release from prison, where he was serving an 11 and a half year sentence for kidnapping a rival.
A passenger on a flight from Dubai to India may wish they had thought of moving money to the blockchain. The airport authorities thought he was strange and stopped him. They found two pounds of gold hidden in his bum. Either the food on the flight was particularly rich or the passenger tried to avoid paying an 18 percent tax. He should have bought bitcoin. It’s much more convenient – and now even more popular than sex. At least on Reddit.
And finally, Atari – yes, this Atari – will be adding a cryptocurrency to its new console. Customers can use Atari tokens when playing Atari arcade games. It looks like bitcoin isn’t the only coin going up.
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The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading step is associated with risks. You should do your own research when making a decision.