Bitcoin reached all-time high of $61,701 in March
After a volatile month so far, bitcoin has somewhat stabilised as April nears. Having climbed above $61,000, before falling back down to $51,000, the cryptocurrency appears to have now consolidated at the $55,000 mark.
Repeated attempts to surpass $60,000 have failed to materialise since bitcoin set its all-time high of $61,701, and a spell of sideways movement could put traders at ease.
PayPal set out plans this week to launch its own crypto service, giving consumers the opportunity to use a selection of cryptocurrencies when making purchases on goods and services around the world.
The company said all 29m of its users will have access to the service in the near future.
“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 head Dan Schulman told Reuters.
The service is the next evolution for Paypal customers who are presently able to buy and sell cryptocurrencies, launched by the company in October.