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RE: Bitcoin may break out of this tight range as soon as next week...

in GEMS2 years ago

I would peg the up/down scenarios to the stimulus. If the CARES act extends the $600/week increase and makes another $1200 stimulus check, then the crypto markets and stock markets will go up. Trump just announced that he plans to see some "historic highs" in the stock market, so the stimulus package will probably be very large. If the stimulus package fails to include enough funds, I would predict the bearish scenario, otherwise the bullish scenario.

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Dems so far have passed a $3 trillion dollar package while the republicans want one around $1 trillion, they have a lot of work to do before they likely meet in the middle. Though not democrat, I'd prefer they overspend than under spend in this scenario...

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