Bitcoin Price Prediction: BTC Investors in UK Face Setback as Paypal Suspends Crypto Purchases
As Bitcoin price grapples with a decline, trading at $28,643 and witnessing a decrease of nearly 2% on Thursday, BTC investors in the UK face a new challenge.
Paypal, a major facilitator of online transactions, has temporarily halted all cryptocurrency purchases in the UK, attributing the move to recent regulatory changes.
This suspension is a blow to many, especially since there was an initial wave of optimism following Robert Kiyosaki's bullish prediction of Bitcoin surpassing the $1M mark.
However, the prevalent negative market sentiment meant BTC could not capitalize on this positive forecast.
While this presents a temporary setback, there's a glimmer of hope as Paypal anticipates resuming cryptocurrency services in the UK by early 2024.
The UK Financial Conduct Authority (FCA) has introduced new rules for crypto transactions, leading to PayPal's temporary suspension of purchases from October 1, 2023, until early 2024.
This interruption aligns with PayPal's commitment to regulatory compliance and its cooperation with global regulators, resulting in a decrease in BTC/USD prices.
Kiyosaki, the author of the bestseller Rich Dad Poor Dad, predicts that Bitcoin may reach $1 million if the world economy crashes.
He also believes that gold and silver are safe-haven assets during economic downturns, and predicts that their prices will rise to $75000 and $60000, respectively, in the event of a global economic crash.
Kiyosaki emphasizes that the national debt is too high and suggests that holding US dollars may result in trouble. This likely contributes to the current market sentiment.
As an influential figure, his insights could sway investor perceptions. However, his remarks failed to bring any positive momentum in BTC prices today
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