Bitcoin (BTC) has risen above $13,000 in less than 24 hours after breaking the $12,000 level on news that PayPal will support cryptocurrencies on its platform.

• Prices of BTC rose to $13,005.51 at 22:22 UTC (6:22 p.m. ET) by press time, representing a 8.7% gains in the past 24 hours, according to CoinDesk’s Bitcoin Price Index (BPI).
• The 24-hour price range: $11,898.03 - $13,030.86.
• The oldest cryptocurrency has continued its price rally after payment giant PayPal announced that it will allow its users to buy, sell and hold cryptocurrencies.
• The new service initially will support bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC).
• Prices for bitcoin cash, ether and litecoin also rallied on the news, up between 7% and 13%in the past 24 hours.