As you know we recommended trader’s initiate long positions last Wednesday, October 21^st after the announcement by PayPal that they will be allowing users to store and exchange Bitcoin and three other cryptocurrencies in just a few weeks.

BTC futures are currently trading fractionally higher and as of 5 PM, Est is exhibiting a $70 (0.54%) gain on the day. Although the gains themselves are marginal the fact that BTC has not declined dramatically alongside the substantial losses in U.S. equities (S&P and Nasdaq both down over 1.5%) today is a very bullish sign for the digital currency.

This “bombshell” I am referring to is the announcement by PayPal earlier today that in just a few weeks they will allow users the ability to hold and exchange cryptocurrencies in their digital wallets. This news is a gigantic leap for the adoption of Bitcoin as well as Bitcoin Cash, Ethereum, and Litecoin which will also be supported.

Today all traders that took our latest call to action we put out last Monday, October 12^th, in which we told all traders to enter from Bitcoin futures from the long side (either BTC or BTM) at the market. Traders taking our call bought in at approximately $11,580 and today should sell their positions if they haven’t already done so.

According to Cointelegraph “Despite the growing Bitcoin short positions from hedge funds, institutional investors are continuing to accumulate BTC. On Oct. 17, Barry Silbert, the CEO of Grayscale, said the firm reached all-time high assets under management (AUM) at $6.4 billion.