RE: Bitcoin and The Upcoming Stimulus Decision

Is the Bitcoin price waiting to make a move once US lawmakers make a decision on the next stimulus package?

US Deadlock Over Stimulus Keeps Bitcoin Cautious; What to Expect?

“The anticipation of a new stimulus bill kept the bids for safe-haven assets like Bitcoin higher. The cryptocurrency was up by circa 1 percent during the early London session Monday, trading at $11,181. Less than 24 hours ago, it was changing hands for nearly $10,500.

But BTC/USD remained cautious about extending its uptrend. Part of the reason was its sudden crash on Sunday, wherein the pair plunged about $1,500 within a few minutes of trading. The other reason – apprehensively – was a stronger US dollar.

The US stimulus deadlock allowed the greenback to breathe a little. After trading near its two-year low, the US dollar index on Monday surged by 0.36 percent, showing that some investors moved into the safety of cash amid stimulus concerns.”

SavannahBTC Master Asked on August 3, 2020 in Bitcoin.
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1 Answers

Oh yeah, we should see a lot of that money from the next round of stimulus money to flow into Bitcoin from those who can afford it, along with the positive benefit of the greedy corporate world who see the writing on the wall and know they have no choice but to throw their hand in the Bitcoin/crypto arena so this should greatly affect price in a positive way.

Master Answered on August 3, 2020.
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