Bitcoin Price Prediction: BTC Bullish Outlook Steadies Above $40,000 As PayPal Launches Crypto Exchange In The UK

30 Jul, 2021 Updated 04 Jun, 2025

By John Isige

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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

A daily close above $40,000 could see Bitcoin nurture a key uptrend to $50,000.
PayPal to debut a crypto exchange platform in the UK as the market turns green.
Bitcoin must target a break above the 100 SMA in the short term to validate the impending upswing.

Bitcoin price has remained pivotal at $40,000 for nearly two days. Earlier this week, the flagship cryptocurrency made haste above $40,000, barely a week after exploring lows under $30,000. However, the gains triggered by rumors that Amazon was going to accept Bitcoin and other cryptocurrency payments by the end of the year faded as soon as the retail giant denied any such plans.

The bellwether cryptocurrency corrected to $36,000 before gaining ground again above $40,000. Meanwhile, BTC is trading around $40,000, and the general outlook of the market is quite bullish. A daily above $40,000 could see Bitcoin gradually ascend to $44,000 and later toward $50,000.

PayPal To Expand Crypto Trading Services In The UK

Global payments service provider PayPal is set to launch trading services in the United Kingdom as soon as next month as part of its expansion plans. During the firm’s second-quarter earnings call held on Wednesday, crypto trading was reported to have been remarkable. PayPal CEO Dan Schulman announced the UK would be the next location to expanding its services in the crypto space:

“Yeah, well, we continue to be really pleased with the momentum we’re seeing on crypto. […] We’re going to launch, hopefully, maybe even next month in the UK, open up trading there.”

Bitcoin Price Flashes Buy Signals

The Moving Average Convergence Divergence (MACD) indicator suggests bulls still have the upper hand, despite that stalling slightly above $40,000. Realized that the MACD has just crossed above the mean line and the divergence between the moving averages affirms the bullish narrative.

BTC/USD daily chart

However, there is the need to proceed with caution and wait for a confirmed break, significantly above the 100-day SMA. Another daily close below $40,000 may trigger sell orders as Bitcoin explores levels toward the 50 SMA at $35,000.

Bitcoin Intraday Levels

Spot rate: $40,000

Trend: Bullish

Volatility: Low

Support: $36,000 and the 50 SMA

Resistance: The 100 SMA and $44,000

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.