Increased liquidity would drive Bitcoin's price
This March 25, it was agreed in the United States Congress to launch a stimulus package of USD 2 billion to face the economic crisis caused by the COVID-19 pandemic.
Let the money flow!
This March 25, it was agreed in the United States Congress to launch a stimulus package of USD 2 billion to face the economic crisis caused by the COVID-19 pandemic. Central banks around the world have begun to issue fiat money with the aim of deepening the crisis even further. Binance CEO Changpeng Zhao believes that this announcement by the United States government may positively affect the price of Bitcoin.
The Federal Reserve has been printing dollars for many months now, but this time they have announced that there will be no limits to the printing of money. Bitcoin is experiencing a slight recovery in its price, but according to Zhao, a bull market awaits us for the future of Bitcoin. Zhao said: “As we get used to talking about Billions, a modest $ 2 trillion market capitalization of #bitcoin will put 1 BTC at $ 100,000. It's not such a difficult number to imagine now, is it?”
Most of the studies and analyzes carried out regarding Bitcoin deposits show that the majority of the Bitcoin available at the moment are in the hands of "Holders" (long-term investors) who are not willing to sell their holdings in the short term. If a part of the percentage of the USD 2 trillion package flows into Bitcoin, we will see an increase in the market capitalization and therefore in the demand for Bitcoin, so its price will appreciate significantly.