EU Confirms $2 Trillion Stimulus Package – Bitcoin Moving Past $9300
Are we going to see a Bitcoin breakout? The US is contemplating and should see a second round of stimulus checks – will all of this be bullish for Bitcoin?
Bitcoin Signals Bullish Breakout as EU Confirms $2tn Stimulus Package
“A summit among European bloc’s 27 leaders in Brussels went into its fifth day – its most extended summit in 20 years – to discuss the region’s next economic course amid COVID-induced slowdown. The eventual outcome came out to be a €1.8 trillion ($2.06 trillion) stimulus package.
While the so-called EU deal awaits further confirmation from the parliament of member states, the stock market reacted positively to the first signs of financial aid. The pan-European STOXX 600 index went up by 1.1 percent while Germany’s DAX jumped 1.9% higher.
A similar upside sentiment rippled across the Bitcoin market. The cryptocurrency surged higher ahead of the European opening bell in anticipation that a stimulus package deal would reduce the cash demand in the eurozone.
The same outlook in the US had earlier sent the Bitcoin price higher.”