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According to the CoinMarketCap data, Bitcoin has made a daily gain of 6.671% to its current price of $27,965.
There is a possibility that the Senate Republicans may want to hold onto their conservative approach in increased spending citing longer-term consequences.
Economists from Goldman Sachs Group have revised their Q1 GDP forecast to see a growth of 5% though earlier they expected a 3% increase.
Just as expected, the market has reacted to this news. The S&P futures (INDEXSP: INX) recorded a surge of 0.62% right after the Christmas holiday.
As BTC continues to hit new all-time highs, Ethereum (ETH) has also joined the rally surging past $725 levels in a strong bull run. Analysts say that the Ethereum journey is just getting started and 2021 could be an even bigger year for the crypto asset.
Bitcoin (BTC) has registered a path-breaking rally this holiday season by surging more than 20% over the last week. Analysts are expecting that we can possibly see $30,000 in the near term with the falling BTC supply at exchanges.
With the latest rally, Bitcoin becomes the first financial service to cross $500 billion in market cap. The latest BTC price action and on-chain activity suggest that retail buying has suddenly spiked up during this holiday season.
There are two key factors that may affect a short-time bull case for Bitcoin. The factors are institutional accumulation and other altcoins profits cycling into BTC.
The uncertainty about the relief measures puts the market on the edge. President Trump has noted that the $900 billion package isn’t suitable and has called for increasing direct payments from $600 to $2000.
The relief package incorporates, among others, increased jobless benefits, small business loans, education funding, the $600 stimulus checks and funding to aid the supply and distribution of Covid-19 vaccines.
Monetization will be driven by additional functions for business teams and users with expanded needs. Some of the functions will be data-greedy, that’s why they will require additional fees.
Tyler Winklevoss has called the new coronavirus stimulus package “another $900 billion advertisement for Bitcoin.”
Apple’s is once again making its Project Titan alive and is reportedly focusing on battery technology which will make it cost-effective while simultaneously providing more miles range.
Tech giant Tesla Inc made its S&P 500 debut. This comes at a time when a new, more infectious strain of the coronavirus is shaking markets globally.
The Dow Jones has gained 5.8% this year while the S&P 500 has rallied 14.8% and the Nasdaq Composite comes off with the biggest pump with a 42.2% surge.