Bitcoin (BTC) is looking stable at the start of a new week after recovering from a drop to $43,000 — what’s in store?
After last week’s 20% drop from all-time highs, opinions are divided over what the future might look like for Bitcoin price action in the short term. Macro factors are encouraging, but naysayers insist that a major crash is still a distinct possibility.
Cointelegraph highlights five factors which could be set to influence BTC/USD in the coming days.
Fresh stimulus, fresh buy-ins?
Macro is looking to deliver a perfect storm for alternative assets, led by the United States. President Joe Biden’s $1.9 trillion stimulus package has passed lawmakers, who gave the green light for yet another unfathomably large money printing exercise to begin.
Traditionally a boon for Bitcoin, the huge increases in the dollar supply includes direct payments to eligible Americans, this time of $1,400.
The third such “stimulus check,” or “stimmy” as it is popularly referred to, could easily find its way into the Bitcoin ecosystem if historic trends repeat themselves this year. As Cointelegraph reported, in 2020, amounts equal to stimulus check payouts Title: Bullish ‘Great Reset’ for BTC: 5 things to watch in Bitcoin this week
Sourced From: cointelegraph.com/news/bullish-great-reset-for-btc-5-things-to-watch-in-bitcoin-this-week
Published Date: Mon, 01 Mar 2021 12:25:03 +0000