Bitcoin (BTC) recovered rapidly following PayPal’s announcement on Tuesday.
Dogecoin Day supports the rise
According to data from Cointelegraph Markets Pro and TradingView, the BTC / USD pair rebounded to $ 56,000 after declining to $ 53,300 during the day.
While volatility continues, confidence has increased that the pair will hold onto a key support level of $ 52K.
PayPal’s payment company Venmo recently announced that it will support cryptocurrency trading. Dogecoin Day, which was declared a celebration day by the crypto community and had a great impact on social media, also supported the rise of Bitcoin.
The # Doge420 hashtag continues to be in the spotlight on Twitter right now. DOGE, which increased by 420 percent throughout the week, is traded over $ 0.38.