PP claimed to implement Bitcoin and nothing happened with the price. Why?

[johny1976]

what more could happen to move btcs' price? PP is leading financial institute in the eu (not really sure how about us).

[Dilla]

You must have took off that day. The price DID shoot up, VERY rapidly. Then, it dropped down to the recent lows, due to massive selling pressure.

[Elwar]

People realized that it is "PayPal's finance company made it so PayPal merchants can sign up for BitPay and accept bitcoins via their API."

This is a bit further from being able to send your friend bitcoins via PayPal.

We are in a wait and see mode at this point.

[johny1976]

You must have took off that day. The price DID shoot up, VERY rapidly. Then, it dropped down to the recent lows, due to massive selling pressure.

I saw it, but I didn't really understand why it was dropped down again so fast (even lower then before pp statement was published).

People realized that it is "PayPal's finance company made it so PayPal merchants can sign up for BitPay and accept bitcoins via their API."

This is a bit further from being able to send your friend bitcoins via PayPal.

We are in a wait and see mode at this point.

This makes sense, thanks for explaining me.