Once again the Bitcoin bubble did not burst – agains all odds. The 30% sell off in the last few days was just the aftermath of the postponed bitcoin hardfork. Bitcoin is again heading for new highs, but what is the reason for that? Basically there’s some good news for the Bitcoin and other crypto currencies:
The P2P Payments provider square is currently testing the integration of Bitcoin and other crypto currencies as a payment method into their app. First tests has already been rolled out to some dedicated customers:
“…We’ve found that [customers] are interested in using the Cash App to buy Bitcoin,”
the company said in a statement as zerohedge reported shortly. This great news caused the bitcoin to jump to $7.336 on wednesday which is roughly 10% below its alltime high from $7.879 last wednesday.
Transaction speed and costs remain unsolved
With the bitcoin investors being happy the main problems with bitcoin remain unsolved:
- transaction speed
- high costs
Nontheless even Square stocks surged more than 5% in the open before closing 2% higher. Seems as if you just need to shout out the word “Bitcoin” at the moment in order to push your company.