Second Stimulus Package Will Send BTC to $15000
Bitcoin price subsequently remained stable during the past month, leaving the gross trading range between $10,200 and $11,500. And soon it may move to the upper limit of this range and may the current trading price soon.
Surprisingly if this level is broken by a steady action, that will indicate that BTC is soon going to face a serious upheaval, the reason being it has been operating at the highest level for over a month now.
This only confirms that Bitcoin alone shows how cryptocurrency shows strength and dependence on both technological and fundamental fronts.
Amidst the latest rise comes in the wake of Square’s announcement that it is buying BTC as a reserve asset for $50 million.
Although this news may refresh the sentiments of investors in BTC and also indicate that it will become a growing trend among other government agencies that previously kept there capital against the coming inflations.
While this may also boost the Bitcoin’s bullish run case, as many of the governmental systems around the globe are seemingly making progress in adapting to cryptocurrency such external forces will escalate the bull case of bitcoin, which could ignite a massive stock market rally for BTC.
While as of now the Bitcoin currency is currently trading at just 1% of its current price of $11,450 and trading all day here at the same level.
Although the strength of cryptocurrency is significant, mainly due to the decision taken by Square to buy bitcoin as a result of betting by persistent hackers.
The global markets are trending higher today on renewed hope of the second round of stimulus, which has been held up by political quarreling.
A Wall Street Journal reporter spoke about the potential deal that is coming down the pipeline, said “Mnuchin is preparing to present Pelosi with a $1.8 TRILLION counteroffer when the two speak today.”
Adding further one of the analysts believes that this will help guide Bitcoin higher in the days ahead, should the traditional markets continue rising.
“Legacy looks good, BTC has been trending bullish since Thursday. I am actively scalping, favoring longs until market conditions change. Think we go higher, suspect a rocky road.”
Amidst all these global markets are booming today in the wake of the second phase of stimulus raised by political turmoil.
