Imploding Trump Pelosi COVID-19 deal leads to 3% Bitcoin price drop
Bitcoin price fell 3% as the U.S. stock market plummeted, but traders expect these two key levels to prevent a deep BTC pullback. The price of Bitcoin (BTC) dropped 3% in less than three hours as the U.S. stock market plummeted. Following the pullback, most traders are neutral or slightly bearish on the short-term trend of BTC.Traders and on-chain analysts are now pinpointing $12,500 and $11,973 as the two levels to watch for the continuation of the Bitcoin rally.BTC/USD. Source: TradingView.comWhy $12.5K and $11.9K are crucial for the current Bitcoin rallyThe Bitcoin price dropped sharply....
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Bitcoin is likely gaining steam due to ongoing stimulus talks in the U.S. Reports indicate that President Trump wants politicians to agree on a stimulus deal larger than House Speaker Pelosi has pushed. The details on this latest development were scant. Whatever the case, analysts think this only accents Bitcoin’s value proposition. There is only 21 million Bitcoin that will ever be mined but theoretically, an infinite number of fiat dollars. President Trump Calls For […]
Bitcoin's correlation with traditional markets appears to continue. Back and forth discussions with regard to a second stimulus package for the people of the United States have been ongoing for months. Today, President Trump decided to push the matter back until after the 2020 presidential elections have concluded. This appears to have resulted in a price drop for Bitcoin (BTC) and other mainstream markets. "Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19," Trump said in an Oct. 6 tweet....
The cryptocurrency and Asian stock markets dumped early Friday after U.S. President Donald Trump announced he and his wife had tested positive to COVID-19.
Bitcoin rose on renewed optimism for the second coronavirus stimulus package, while the US dollar plunged. House Speaker Nanci Pelosi said a bill for the compromised aid is on the way after confirming a fruitful, 45-minute telephonic conversation with Treasury Secretary Steven Mnuchin. Simultaneously, Senator Mitch McConnell, the majority leader, warned his lot not to negotiate a pre-election deal, stating the US cannot stomach another huge federal package. In April, Congress had approved a $2 […]