The White House’s $6 trillion stimulus package is astronomically bullish for Bitcoin; here’s why
BTC $6703 (+3.5%) • ETH $138 (+3.11%) • XRP $0.16 (+2.4%)
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The entire world, including the Bitcoin industry, has been ravaged by the coronavirus outbreak over the past few weeks; indeed, to mitigate the spread of COVID-19, authorities have been forced to enact emergency measures, thereby shutting down thousands of businesses and resulting in millions laid off around the world. In short: the economic impact has been huge.
It’s no surprise, then, that governments have been forced to react. Canada announced a CAD$82 billion stimulus package, the European Central Bank upped its large-scale asset purchase operations, and Hong Kong pledged to send its citizens HK$10,000 each.
But the U.S. has gone big. Really big.
More news ⏬
Bitmain launches new Antminer S19 series, but there’s a catch
Bitmain, the world’s largest mining hardware manufacturer, has announced the launch of a new series of ASIC miners, the Antminer S19.
Investors rush into Kyber Network (KNC) as it prepares for a major protocol upgrade
On-chain metrics reveal that demand for Kyber Network is surging exponentially amid a major protocol upgrade that will occur later this year.
The Fed just gave crypto a critical lifeline by doing this, and Bitcoin is strongly reacting
The Federal Reserve is taking a stronger approach than it did during the 2008 financial crisis to slow down the downtrend of the U.S. economy.
A prominent trader makes the case for $8.5k Bitcoin before making new lows
A prominent trader known as PentarhUdi accurately called the drop from $10,000 to sub-$6,000 and has called many full Bitcoin market cycles in the past several years, believes BTC is headed to up to $8,500.
These 2 key on-chain factors suggest Ethereum’s recovery is well on its way
Even after the crypto market’s hefty recovery over the past week, Ethereum remains far below the values it was trading at just a month earlier.
Top analyst: here’s the simple path forward for Bitcoin to become a major safe haven
Cryptocurrency investors have been greatly disappointed by Bitcoin over the past few weeks, with its lackluster price action seeming to invalidate the safe haven narrative that many investors had previously bought into.
What else?
🏔 Economic downturn erases trillions from stock market and shows just how tiny crypto truly is
💸 This relatively small amount of money will pump-and-dump Bitcoin’s price
📸 Bitcoin price flash spiked 13% in 1 hour, but top traders think it’s a “fake” rally
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Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
