Bitcoin Bumps Higher as Trump Calls For Bigger Stimulus Than Democrats

2020-10-19 15:00

Bitcoin is likely gaining steam due to ongoing stimulus talks in the U.S. Reports indicate that President Trump wants politicians to agree on a stimulus deal larger than House Speaker Pelosi has pushed. The details on this latest development were scant. Whatever the case, analysts think this only accents Bitcoin’s value proposition. There is only 21 million Bitcoin that will ever be mined but theoretically, an infinite number of fiat dollars. President Trump Calls For Larger Stimulus Deal

Bitcoin has managed to bounce after the drop late last week on news of OKEx freezing withdrawals. Crucial to this recovery may be news that the cryptocurrency’s scarcity will once again be highlighted as U.S. politicians move towards another stimulus deal.

According to financial news relayer/aggregator First Squawk, President Trump wants politicians to agree on a stimulus deal larger than House Speaker Pelosi has pushed. The details on this latest development were scant, but Bloomberg wrote on the matter earlier this week:

“Treasury Secretary Steven Mnuchin told House Speaker Nancy Pelosi Thursday that President Donald Trump would personally lobby to get reluctant Senate Republicans behind any stimulus deal they reach. Trump said he’s willing to go beyond the $1.8 trillion offer for a virus relief plan that’s already been offered by the administration, but Senate Majority Leader Mitch McConnell rejected that, saying GOP lawmakers won’t go along.”

Many think that these continued discussions for more and more stimulus are slated to drive Bitcoin higher. The leading cryptocurrency, as suggested earlier, thrives when fiat money is debased. There is only 21 million Bitcoin that will ever be mined but theoretically, an infinite number of fiat dollars.

PRESIDENT TRUMP SAID HE WANT A BIGGER STIMULUS DEAL THAN PELOSI'S PLAN

— First Squawk (@FirstSquawk) October 19, 2020

Macro Trends to Drive Bitcoin Seriously Higher

Analysts think that macro trends will drive the coin seriously higher in the years ahead.

Vinny Lingham, chief executive of Civic, recently commented on the matter of Bitcoin fundamentals:

“I haven’t been this bullish on #Bitcoin since 2016. Macro events are teeing us up for another bull run. BTC could go 3-5X in the next 12 months, but if it goes 5X+, we’re back to bubble zone. Key indicator is BTC dominance – if it drops below 35% during the run, caveat emptor.”

Most analysts in the space are eyeing continued monetary stimulus and fiat debasement as crucial drivers for BTC’s growth in the years ahead.

Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Bumps Higher as Trump Calls For Bigger Stimulus Than Democrats

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TrumpCoin (TRUMP) на Currencies.ru

$ 0.0093482 (-1.82%)
Объем 24H $0
Изменеия 24h: 8.36 %, 7d: 6.82 %
Cегодня L: $0.0093482 - H: $0.0093482
Капитализация $61.739k Rank 2306
Цена в час новости $ 0.0546927 (-82.91%)

stimulus bitcoin trump president wants pushed indicate

stimulus bitcoin → Результатов: 126


Bearish ECB Outlook Could be Bullish for Bitcoin, Claims Analyst

The global economy and Bitcoin (BTC) have both been incurring increasing volatility as of late, with the former’s volatility primarily being centered around recently released data from both the United States and Europe, which signals that the economy may currently be at a precarious point that requires a significant amount of monetary stimulus to be.

2019-7-27 01:00


VegaWallet Announces New Mobile Payment App with POS Aiding Mainstream Adoption

Bitcoin Press Release: FinLab EOS VC $100 Million venture injects a seven-digit financial stimulus package into Instaffo and its blockchain project VAEON. September 25th, 2018, Malta –  VAEON, a decentralized protocol built on the EOSIO blockchain, announced today that the FinLab EOS VC Fund will be making a seven-figure financial commitment to Instaffo GmbH to […] The post VegaWallet Announces New Mobile Payment App with POS Aiding Mainstream Adoption appeared first on Bitcoin PR Buzz.

2018-9-25 19:28


VAEON Secures First EOS VC Fund Contribution

Bitcoin Press Release: FinLab EOS VC $100 Million venture injects a seven-digit financial stimulus package into Instaffo and its blockchain project VAEON. September 25th, 2018, Malta –  VAEON, a decentralized protocol built on the EOSIO blockchain, announced today that the FinLab EOS VC Fund will be making a seven-figure financial commitment to Instaffo GmbH to […] The post VAEON Secures First EOS VC Fund Contribution appeared first on Bitcoin PR Buzz.

2018-9-26 19:28