$600 Dollar Stimulus is ensured for stimulating the price of the Bitcoin Bullish Momentum
Once the Black Thursday market crash occurred in the year 2020 march, the price of the Bitcoin Plunged around 4000 that fail along with the traditional market. Since the federal reserve money printer got into action, it literally sent the $12000 in the stimulus check., this led to the risk in BTC and the US citizens were turning for the cryptocurrency due to lost faith in monetary policy that the government has set and to hold on to the wealth as the US dollar weekend. Since the United States Congress creates another stimulus bill, it has to be funded by the Federal reserve Unrestrained printer of the money.
If the Stimulus check spending on the citizens of the US in the earlier government-funded round of economic relied on this year has any connection, there seem to be quite a possibility that other stimulus recipients will also make an investment in Bitcoin and offer an additional boost to the bullish price momentum of the crypto. Bitcoin surely had a great year, the cryptocurrency premier has also increased from $4100 quickly while the Black Thursday crash to set an all-time record of $24000 as per the CoinMarketCap. BTC has also performed in a much convenient manner.
However, the ascent year of the Bitcoin due to the economic downturn may actually surprise some people. However, the creation and holding of the wealth outside the traditional system of finance along with the free inflationary value is exactly the reason why BTC was created by Satoshi Nakamoto during the first place only. Bitcoin has been serving to provide a good way for separating money from state control since it was made to be decentralized and created using the non-sovereign processes. The Bitcoin investment also gives freedom outside the Federal Reserve along with other controls of the central bank.
CBW - External Analyst