The title basically gives the article away, it will yet again be another opinion piece by your favorite hippopotamus. This time about the effects that I believe the new round of stimulus checks being distributed by the US Federal Government will do for the already increasingly rising prices of the crypto industry.
Based off what we saw happen to crypto prices in April earlier this year when the money machine REALLY started burrring I expect to see more of the same as the burrrr sound continues, it’s hard to say if we will see the same percentage gains between March and May of this year where we saw a 100% rise in recovery of the price of specifically bitcoin as well as the 100% recovery rise for many other crypto’s, and as uncertainty as to how governments would respond to the corona virus moving forward as well as other social economic issues the prices rose past their loss in March and even made gains, obviously, which brings us to where we are today. With bitcoin hovering rather safely above 10k and with a visual resistance level around the 12k mark, however as the government sends out its next round of Covid cash, I expect that 12k ceiling to be broken rather easily, how high will it go?!
Its impossible to say, if I were to guess, I would say “moon?” And believe and hope it to be true, and although that might not be the case I do certainly believe that corona virus, compound with governmental aid and decades of mistrust of all forms of government all over the globe are factors that make me feel good in saying this might be the year we once again see the 20k psychological price barrier broken in the mind of the consumer again, which is a prospect that while I hate (as still being a active consumer of crypto) I also am very excited to get to be apart of and witness on some level.
Anyway, that’s my opinion of what this next round of stimulus will do for the crypto space in a nutshell, I could ramble forever but won’t subject you all to that, for now, stay safe, healthy, and make good use of your “trump bucks” when they end up coming around to you if you are in the US, no matter where you live and who you are though, hodl strong fam, the future is gunna be BIGLY!
