Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run — what’s next for hodlers?
As the largest cryptocurrency approaches $60,000, Cointelegraph takes a look at the factors to consider when forecasting this week’s price action.
BTC price vs. DXY (orange). Source: Tradingview
Investor eyes stock market “reset”
Equities showed no signs of flipping their endless upside on Monday, as buyers continued to pour in to the market.
Despite warnings that a bubble may already be about to burst, markets built on all-time highs as anticipation of an economic recovery worldwide stoked enthusiasm.
In the United States, it was hope surrounding President Joe Biden’s $1.9 trillion coronavirus stimulus package that was still providing the basis for growth. Last week, Treasury Secretary Janet Yellen suggested that the mechanism for the money, which would include a third round of stimulus checks worth $1,400, would be finalized by Congress within the next few weeks.
“Everybody is playing out the outlook for betterTitle: Did $50K ‘trigger’ Peter Schiff to buy BTC? 5 Things to watch in Bitcoin this week
Sourced From: cointelegraph.com/news/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week
Published Date: Mon, 22 Feb 2021 09:28:44 +0000