Bitcoin at $100,000 is a price prognosticated by pundits, courtesy of the fundamental factors that signaled the bullish rally. However, Bitcoin is receiving an external push from the same organization that steadily criticizes its credibility. The United States government in its usual fashion is helping the benchmark asset live up to analysts’ expectations with the constant advertisement.
The $1.9 trillion Stimulus Package could change everything for Bitcoin
The last thing the US economy needs right now is more inflation. But the one thing needed for the US citizens to sustain their welfare through the global Covid-19 pandemic is a stimulus bill, according to the United States government.
For Bitcoin, this is a solid entry point for some of the biggest financial institutions and independent investors who will search for a dependable storage outlet for their wealth to get onboard. Last year, when the first check was sent out, the stock market suffered a major decline as inflation forced the wealthy to find shelter in Bitcoin. Gold dropped significantly too when investors began to question its scarcity and its historic performance to Bitcoin.
While whales are better positioned to secure the biggest amount in profit, smaller investors can outpace even the most skilled trader by simply holding just about half of a quarter of Bitcoin’s current price, which is only about $937 more than the incoming $2000 stimulus cheque.
Interestingly, some Bitcoiners who threw their previous stimulus check into the market have secured decent profits already. At the current market rate, the $1200 stimulus check …
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