Yesterday evening I saw some news I've been waiting for quite a long time, at least since mid-spring:
on the 11th or on the 12th of December, hopefully, the first people will be immunized across the United States, across all states, in all the areas where the State Departments of Health will have told us where to deliver the vaccine
Source CNN
In other words, Pfizer has managed to create an anti-Covid vaccine which is going to be launched very shortly (at least at the moment it seems so). Of course, there's already a number of anti-Covid vaccines, but Pfizer's is the first one to get officially announced pre-approval from the US government.
Indeed, it's good news overall. Financially it means that the economy can well be back on track rather sooner than later. I wouldn't be surprised if we will get a pump at today's NYSE session.
However, it's kinda hard to tell what it all means for BTC.
On one hand, a booming economy means people (including institutions) have more extra money to invest in crypto. On the other hand, when people get more extra money, they're much less inclined to invest in "gold", either "physical" or "digital". Besides, a booming economy means certain stocks and commodities might well become a more promising investment than crypto.
I would expect the big guys will try to push BTC above $19665.39 in the coming weeks. If they succeed, there's a change for BTC to continue its rally somewhat higher. Otherwise, I'd expect a dump (and not a 3-5% "correction").
That's a simple "price prediction" of mine. It seems the coming weeks are going to be interesting.
Posted Using LeoFinance Beta
