Bitcoin Eyes $50K as Traders Pause Profit-Taking after Biden’s Stimulus Push
Bitcoin refreshed its all-time high during the early Asian session Tuesday as traders assessed the prospects of Joe Biden's latest push to pass his ambitious $1.9 trillion stimulus package.
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Bitcoin extended its recovery trend as traders shifted their focus on Joe Biden's stimulus plan expected later on Thursday.
Two new stimulus packages have been proposed while lawmakers continue to push for second stimulus checks to help Americans cope with the coronavirus-led economic crisis. House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell want to add stimulus measures to the spending bill that must be passed before the Dec. 11 deadline. Stimulus Measures Could Be Added to Spending Bill That Must Pass This Week U.S. lawmakers unveiled new stimulus proposals last week after months of negotiations with no progress on either a new coronavirus relief stimulus package or second stimulus checks....
Many Americans are in need of second stimulus checks and a new coronavirus relief package. As Congress resumes stimulus negotiations, President Trump has called for a “big and focused” stimulus bill now. Meanwhile, several analysts have predicted when lawmakers will pass the next stimulus package. Stimulus Package Status Stimulus negotiations have resumed after the presidential election but lawmakers still have not been able to come to an agreement. This has left Americans with little hope of receiving their second stimulus checks to help them cope with the coronavirus-led....
The report will likely influence negotiations over U.S. President Biden’s $1.9 trillion stimulus package over the coming weeks.
After Joe Biden's inauguration on Jan. 20, an expected raft of new stimulus measures may further boost bitcoin's rally, say analysts.