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The $1.9 Trillion US Stimulus Bill May Send Bitcoin Over $50,000

The date of the U.S. passing the $1.9 billion stimuli is getting closer. Taking into account the impact this could have over Bitcoin, we may approach the $50,000 level sooner than we may believe. Demand and supply will play a significant role in the following months as inflation will hit the economy of the U.S.

As the level of supplies increase, investors will start looking for a promising asset, and that could very well be Bitcoin.

Many analysts actually credit Bitcoin’s new resurgence in price to the announcement of the stimulus in the U.S. Yesterday, bulls contributed quite a lot to the momentum as trading volume increased enormously on main exchanges.

Bitcoin grew to $39,000 soon and continues to grow as it passed the $42,000 level, which was its ATH. All signs point to a continuation of the bullish run for the near term.

Furthermore, Bitcoin whales have gone crazy after BTC like no other moment in time before. Whale activities were noticed several times this year. It was also discovered that the number of addresses that hold at least $38K Bitcoin is on the rise.

“The number of Bitcoin whales (entities holding > than 1k Bitcoin) has seen an astounding increase. Since the beginning of the year, more than 200 new whale entities have appeared in the network –– data supporting the case that institutions are arriving.”

Comparing this period with the same period in 2020, it is worth noting that the number of BTC addresses with non-zero balances has also reached record levels. This also points to a bullish rerun for BTC.

On top of all this, we mustn’t forget the impact media has and how it could also drive the rally even faster. One prime example of this is how well the media received Elon Musk’s comments about Bitcoin.

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