Multi-Trillion Dollar Stimulus Hopes Boost Bitcoin, Stocks

2021-1-14 21:27

Bitcoin and stock markets jumped in anticipation of President-elect Joe Biden’s plans for a COVID-19 stimulus package amid rising employment claims.

Democratic Government Add More Stimulus

The S&P 500 index gained 0.3%, trading at par with its all-time high value of $3,826.7.

Bitcoin also pushed towards $40,000 yet again, favoring strong demand and Biden’s stimulus news acting as a robust catalyst.

The cryptocurrency is trading at $39,500 at press time.

BTC and S&P 500 futures price chart. Source: Trading View

Stimulus packages and business grants from the government would add the necessary dry powder to inflate risk-on assets like stocks and Bitcoin.

Despite the trillions of dollars printed last year, the U.S.’s jobless claims paint a grim picture of the American economy. Thursday’s report from the U.S. Department of Labor saw a 181,000 jump in claims since last week. This week’s tally is 965,000, marking the highest number of claims in the last four months.

President-elect Joe Biden aims to deliver on his promises of a generous economic package, reportedly planning to send out $1,400 payments in unemployment benefits.

In December, the latest stimulus package ratified by Trump was for $900 billion, which promised $600 per individual in personal checks.

Biden is expected to reveal the package’s details, which he said last week would be in the “trillions of dollars.”

News reports suggest that the amount is roughly between $1.5 to $2 trillion. Regardless of the sum, like Trump’s package, fresh greenbacks will likely move directly into investments like Bitcoin and stocks amid inflation worries.

Biden’s term will begin from Jan. 20, at which point he plans to fast-track the stimulus package along with a commitment to increase the availability of coronavirus vaccines.

Biden expected to announce $2 trillion stimulus plan at 7:15 pm EST. pic.twitter.com/qZLmWqY16L

— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) January 14, 2021

Biden is expected to announce his plans at 7:15 PM EST from Wilmington, Delaware. The details of the plans will be updated following the announcement this evening. The speech will have a direct impact on the price of Bitcoin and the broader stock market.

Disclosure: This author held Bitcoin at the time of publication.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Dollar Online (DOLLAR) на Currencies.ru

$ 0.0024551 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 3.00 %
Cегодня L: $0.0024551 - H: $0.0024551
Капитализация $1.851k Rank 99999
Доступно / Всего 753.776k DOLLAR

bitcoin stocks boost hopes dollar stimulus multi-trillion

Источник: cryptobriefing.com

bitcoin stocks → Результатов: 126


Bitcoin mining stocks are far riskier than Bitcoin itself

Key Takeaways Bitcoin mining stocks have underperformed Bitcoin heavily over the last year Greater competition among miners and higher amounts of energy required means margins are thinner Rising electricity costs and lower value of Bitcoin have also hurt miners immensely  Greater number of variables beyond merely the price of Bitcoin means mining stocks have been […] The post Bitcoin mining stocks are far riskier than Bitcoin itself appeared first on CoinJournal.

2023-6-22 16:52


Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll

Key Takeaways Our Head of Research, Dan Ashmore, digs into Bitcoin’s relationship with stocks Correlation between Bitcoin and the Nasdaq is at its lowest point since 2018 The Nasdaq is up 10% in the last month as stocks have surged off softer forecasts around interest rates and the macro climate Bitcoin is down 9% in […] The post Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll appeared first on CoinJournal.

2023-6-15 16:51


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

More Stimulus Coming? President Biden and Senate Democrats Press for Another $3 Trillion

On the heels of the last stimulus package, U.S. President Joe Biden is creating more legislation that may lead to a massive $3 trillion package dedicated to domestic needs and infrastructure. The recent discussions with Biden and Senate Democrats honed in on the political party’s “Build Back Better” campaign. The recent stimulus talks have a […]